121 S Henderson St, Rusk, TX 75785
- Commercial real estate
- 2,520 SF
- 0.06 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 121 S Henderson St
- Year built
- 1960
- Construction
- CONCRETE
- Lot size
- 0.06 lot acres
- Property type
- Commercial real estate
- APN
- 227020000
- APU
- 227020000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 30, 2022 | — | Billy Frank Neiderhofer | Pyniwood LLC | Warranty Deed | — |
| Jan 9, 2013 | — | Pamela Wallace | James Eric Long | Venders Lien | $77k · Austin Bank |
Description
This exceptional investment opportunity presents a charming, two-story, 2,520 square foot commercial building located at 121 S Henderson St, Rusk, TX 75785, in the heart of downtown Rusk. Currently zoned for commercial use, the property boasts a strong 7.89% cap rate with a projected NOI of $15,000, and a pro-forma cap rate of 10.53% with a projected NOI of $20,000. The ground floor is currently leased to a pie restaurant under a gross lease agreement expiring January 1, 2025 (approximately 0.1 years remaining). The tenant currently pays $1,550 per month and is likely to renew their lease. The upper level is vacant and presents a significant value-add opportunity. This space could be easily converted into a residential apartment, generating additional rental income and further increasing the property's overall return. The building's historical character adds to its unique appeal and potential for future growth within the thriving downtown Rusk area. This property offers a compelling blend of immediate income and significant upside potential for savvy investors seeking a strong return on investment in a desirable Texas location. The asking price is $190,000, translating to a price per square foot of $75.40.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Rusk
- County
- Cherokee
- State
- Texas
- Longitude
- -95.1491
- Latitude
- 31.7956
- CBSA code
- 27380
- CBSA name
- JACKSONVILLE, TX MICROPOLITAN STATISTICAL AREA
