2305 Southmost Rd Brownsville, TX 78521
- Commercial real estate
- 942 SF
- 0.14 lot acres
Current Use by Public Records
- Payment 1 Loans - Brownsville - Southmost Blvd. / Loan Agency
- Charles Johnson Finance Personal Loans / Loan Agency
Property Details for 2305 Southmost Rd
- Year built
- 1940
- Lot size
- 0.14 lot acres
- Property size
- 942 SF
- Property type
- Commercial real estate
- APN
- 02-5610-0370-0020-00
- APU
- 256100370002000
Description
This 3,200 square foot Class A shopping center in Brownsville, Texas, presents a compelling investment opportunity. Located on a 0.16-acre corner lot at the intersection of Southmost Road (FM 1419) and E 23rd Street, this single-story, 2019-built property boasts a Traditional Neighborhood Corridor (TN-C) zoning designation. Currently featuring three units, with one occupied by Payment 1 Financial, the center offers significant potential for value appreciation. The property includes 16 parking spaces and has a 9.03% pro-forma cap rate, generating a pro-forma NOI of $76,752. The asking price is $850,000, translating to $265.62 per square foot and $132 per square foot for land value. The building's current occupancy is 33%, with two units available for lease or finish-out, providing an excellent opportunity for investors to increase income and occupancy. The lease type is modified, and the remaining lease term on the existing tenant is zero years. The property's APN is 38987 & 38982. This prime location on a major thoroughfare makes it an ideal investment for those seeking strong returns in a growing market.
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
- Brownsville
- County
- Cameron
- State
- Texas
- Longitude
- -97.4695
- Latitude
- 25.909
- CBSA code
- 15180
- CBSA name
- BROWNSVILLE-HARLINGEN, TX METROPOLITAN STATISTICAL AREA
