407 Lamesa Hwy Stanton, TX 79782

Property Details for 407 Lamesa Hwy

Year built

1990

Lot size

0.14 lot acres

Property size

2,480 SF

Property type

Commercial real estate

APN

10547

APU

10547

Description

This exceptional Stanton, Texas investment property, located at 407 Lamesa Hwy N, presents a compelling opportunity. The 2,232 square foot building, constructed in 1983, sits on a 0.141-acre lot and boasts a strong 10% capitalization rate. Currently configured as a multi-tenant retail and office space, with three individual units, two are already leased, resulting in a 75% occupancy rate. The gross lease structure simplifies management. Each unit features its own electric meter, HVAC system, and restrooms. A vacant exterior storage unit is available for tenant use. The property benefits from recent renovations and is zoned for other uses (see remarks). The asking price is $275,000, translating to $123.21 per square foot and a land value of approximately $1,950,354.61 per acre. The remaining lease term on the occupied units is three years. Annual property taxes are $760.50. Parking details are available upon request. Ceiling height is less than 20 feet. This property offers significant potential for income growth and value appreciation. Buyers are responsible for verifying taxes, insurance, and zoning information. Directions: From I-20BL W, turn right onto N Lamesa Rd

Location Insight

City

Stanton

County

Martin

State

Texas

Longitude

-101.803

Latitude

32.1278

CBSA code

33260

CBSA name

MIDLAND, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments