102 Gordon St Alvin, TX 77511
- Investment properties
- 10,499 SF
- 0.33 lot acres
Current Use by Public Records
- Jadyn Pittman, REALTOR / Real Estate Agent
- Moore Group Realty / Real Estate Agency
- ZOMADD / Boutique
Property Details for 102 Gordon St
- Year built
- 1912
- Lot size
- 0.33 lot acres
- Property size
- 10,499 SF
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 3497-2000-000
- APU
- 34972000000
Description
This exceptional mixed-use property, located at 100/102 N Gordon St in Alvin, Texas, presents a unique investment opportunity. The 14,036 square foot building, constructed in 1912 and renovated in 2015, features a blend of executive office, restaurant, and storefront spaces, currently housing four tenants including Edward Jones and Gordon Street Tavern. With a stabilized investment profile, a 7.41% cap rate, and a strong NOI of $133,391, this property offers significant potential. The current lease structure is NNN, with a multi-tenant occupancy of 50% and a remaining lease term of 8.9 years (commencing January 1, 2020, and expiring October 15, 2033). Leases include 3-year rent bumps to market rate. The property sits on a 0.5-acre lot and is a two-story building. The asking price is $1,800,000 ($128.24/sq ft). This prime location in downtown Alvin offers high visibility and significant foot traffic. The property's historic character and versatile spaces make it an ideal investment for both seasoned investors and those seeking a unique opportunity in a thriving Texas market. The building is classified as Class B and is situated in a Qualified Opportunity Zone. Further development potential exists on the second floor.
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
- Alvin
- County
- Brazoria
- State
- Texas
- Longitude
- -95.2438
- Latitude
- 29.4241
- CBSA code
- 26420
- CBSA name
- HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA
