3945 Main Ave Groves, TX 77619
- Grocery and convenience stores
- 3,616 SF
- 0.96 lot acres
Current Use by Public Records
- Grocery and convenience stores
Property Details for 3945 Main Ave
- Year built
- 1973
- Lot size
- 0.96 lot acres
- Property size
- 3,616 SF
- Property type
- Grocery and convenience stores
- APN
- 066050-000-000100-00000
- APU
- 6605000000010000000
Description
This income-producing property in Groves, Texas, presents a compelling value-add opportunity. The offering encompasses two structures totaling 13,616 square feet situated on a 0.96-acre lot. The main building, located at 3945 Main Avenue, is a 3,616 square foot full-service gas station and convenience store with an existing restaurant tenant. A second 10,000 square foot office retail building with ample parking is also included at 6039 39th Street. Additionally, a 0.28-acre lot at 6050 39th Street is part of the offering, subject to a ground lease. The property boasts a strong location with high traffic counts (7,803 cars per day) on Main Street and 39th Street. Built in 1973, the property features two buildings across two stories and is zoned C2 (General Light Commercial – verification with the City of Groves is recommended). Currently, the property has a 25% occupancy rate, generating a net operating income (NOI) of $20,400, with a 3.71% cap rate and an asking price of $550,000 ($40.39/sq ft). The property includes three units and one gas pump. The existing ground lease is in place. This property is ideal for an investor seeking a renovation project with significant upside potential in a high-traffic retail corridor.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Groves
- County
- Jefferson
- State
- Texas
- Longitude
- -93.9202
- Latitude
- 29.9446
- CBSA code
- 13140
- CBSA name
- BEAUMONT-PORT ARTHUR, TX METROPOLITAN STATISTICAL AREA
