1002 Grant St, Laredo, TX 78040-5813
- Warehouses
- 25,916 SF
- 0.33 lot acres
Current Use by Public Records
- Insight Therapy Center / Corporate Office
Property Details for 1002 Grant St
- Year built
- 1973
- Lot size
- 0.33 lot acres
- Property type
- Warehouses
- Property subtype
- Self storage facilities
- APN
- 101-00001-030
- APU
- 10100001030
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| May 17, 2022 | — | Abo Holdings Laredo LLC | San Agustin Investment LLC | Special Warranty Deed | — |
Description
This exceptional investment opportunity presents a 25,916 square foot, Class A retail property in Laredo, Texas, currently 100% occupied by ABO Plasma under a triple-net lease. The property, situated on a 14,193 square foot lot at 1002 Grant St, Laredo, TX 78040, boasts a newly renovated (2024) two-story building constructed in 1973. The lease, commencing December 1, 2024, and expiring November 30, 2034, offers a substantial 10-year term with three 5-year renewal options, each including a 10% rent increase. The current annual net operating income (NOI) is $376,000, resulting in an attractive 8.00% cap rate. The asking price is $4,700,000. ABO Plasma, a corporate-guaranteed tenant, occupies the entire space, utilizing approximately 12,500 square feet on the first floor for plasma donations and the remaining space for offices, rest areas, and corporate training. The property benefits from a prime location in downtown Laredo, near major international bridges and a historic plaza, serving a large and growing population. This sale-leaseback opportunity offers minimal landlord responsibilities and is considered an e-commerce resistant, essential business. The property is available for purchase below replacement cost, considering the recent $4.5 million renovation. The permitted zoning is commercial.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $795,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $925,000
Market price range: $714k - $925k -
Alternative Use
- Use
- Estimation
- WAREHOUSE, STORAGE
- $780,000 Current use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Laredo
- County
- Webb
- State
- Texas
- Longitude
- -99.5059
- Latitude
- 27.503
- CBSA code
- 29700
- CBSA name
- LAREDO, TX METROPOLITAN STATISTICAL AREA
