1807 Main St Clarksville, TX 75426
- Commercial real estate
- 5,600 SF
- 0.72 lot acres
Current Use by Public Records
- Parks Apartments / Apartment Building
Property Details for 1807 Main St
- Lot size
- 0.72 lot acres
- Property size
- 5,600 SF
- Property type
- Commercial real estate
Description
This 10-unit apartment building in Clarksville, Texas, presents a compelling value-add opportunity for investors. Located at 1807 W Main St, this single-story, 5,600 square foot building sits on a 0.72-acre lot and is currently vacant, with an occupancy date of September 12, 2024. The property, built in 2010 and last renovated in 2010, is classified as Class C and offers significant upside potential through renovations. The asking price is $440,000, translating to $47,500 per unit and $89.62 per square foot. The pro-forma net operating income (NOI) is projected at $46,800, resulting in a 10% pro-forma capitalization rate. All 10 units require renovation, allowing for increased rental income and property value. The property's location in Clarksville offers proximity to schools, parks, and downtown amenities, ensuring consistent rental demand. The multifamily zoning permits a variety of leasing configurations, maximizing flexibility and tenant retention. This distressed asset offers a low-cost entry point for a significant return on investment in a growing market. The property's convenient location near major roadways enhances its appeal to potential renters. This is an exceptional opportunity to capitalize on the increasing demand for quality multifamily housing in Clarksville.
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
- Clarksville
- County
- Red River
- State
- Texas
- Longitude
- -95.066893
- Latitude
- 33.6102149
