13608 Kluge Rd Cypress, TX 77429-2337

Property Details for 13608 Kluge Rd

Lot size

2.84 lot acres

Property type

Commercial real estate

APN

402080000107

APU

402080000107

Description

Exceptional investment opportunity: 8.6+/- unrestricted acres in Cypress, TX, offering substantial income potential. This mixed-use property currently generates income from three buildings totaling 4,649 square feet, housing 25 tenants across diverse uses including residential, office/retail (currently a music school), and boat/RV storage. The property boasts 100 parking spaces and features three buildings constructed in 1930, 1965, and 1992, with renovations completed in 2000, 2015, and 2019. The current NOI is $78,740, with a pro-forma NOI of $135,000, reflecting a 4.63% cap rate and a pro-forma cap rate of 7.95%. The property is 65% occupied as of December 31, 2023. The asking price is $1,699,000 ($365.45/sq ft, $220,930/acre, $16,990/unit). The boat/RV storage operates at approximately 30% capacity, generating roughly $20,000 in annual revenue. The property offers significant upside potential due to multiple revenue streams, over 400 feet of road frontage, and a stabilized income stream. Tenants are on month-to-month leases, providing flexibility for redevelopment or continued operation as an investment property. The property includes two residential units at the rear. Zoning is unrestricted mixed-use. The property consists of three one-story buildings.