2312 Palmer Hwy Texas City, TX 77590-7142
- Commercial real estate
- 7,255 SF
- 0.29 lot acres
Jan 27, 2021
Current Use by Public Records
- Commercial real estate
Property Details for 2312 Palmer Hwy
- Year built
- 1975
- Lot size
- 0.29 lot acres
- Property size
- 7,255 SF
- Property type
- Commercial real estate
- APN
- 5565-0000-0006-001
- APU
- 556500000006001
Description
This exceptional commercial property in Galveston County's CG submarket offers a unique leasing opportunity. Located at 2312/2314 Palmer Hwy, near the cross street of 23rd, this single-story building totals 13,233 square feet and features multiple suites, ideal for various uses. Currently, 7,750 square feet is vacant, with minimum divisible space of 2,250 square feet. The building boasts a 12-foot ceiling height and standard power. Recently renovated in 2024, the property includes a covered entry and frontage on a major thoroughfare, ensuring high visibility. Two spaces are available: a 6,250 sq ft unit at a base rent of $4,250/month plus $1,300 NNN, and a 2,250 sq ft unit at $1,950/month. Both spaces offer ample space with three bathrooms each. The landlord is investing in significant improvements, including hydroblasting the building and parking lot, installing updated exterior lighting, restriping the parking lot, and repaving it with a minimum 3-year lease. The property is zoned commercial; prospective tenants must verify intended use with Texas City. Leases are for a minimum of three years and a maximum of five years, with renewal options. A small storage space at the rear of the building is excluded from the lease. Tenants are responsible for utilities, janitorial services, trash removal, insurance, and space maintenance. The landlord covers roof, structural, parking lot maintenance, taxes, and insurance. This property is perfect for a variety of businesses, including medical offices, creative offices, and retail storefronts.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,195,000
- 6.5%
- $1,105,000
- 7%
- $1,025,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,018,000
Market price range: $320k - $1.02M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $665,000 Current use
- OFFICE BUILDING
- $1,535,000 Change: +130% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Texas City
- County
- Galveston
- State
- Texas
- Longitude
- -94.9281
- Latitude
- 29.3945
- CBSA code
- 26420
- CBSA name
- HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA
