412 8th St, Unit 1, South Houston, TX 77587-3504
- Retail space
- 2,915 SF
- 0.17 lot acres
Current Use by Public Records
- Fritanga Nicaraguense La Carreta / Restaurant
Property Details for 412 8th St
- Year built
- 1945
- Construction
- CONCRETE BLOCKS
- Lot size
- 0.17 lot acres
- Property type
- Retail space
- APN
- 341930000381
- APU
- 341930000381
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 19, 2022 | — | Renovi Rental LLC | Lone Star Buyers LLC | Warranty Deed | $187k · Lone Star Buyers LLC |
| Jan 13, 2022 | — | Lone Star Buyers LLC | Inverca LLC | Warranty Deed | $187k · Inverca LLC |
| Jan 24, 2020 | — | Inverca LLC | Benito Arroliga | Warranty Deed · related | — |
| May 16, 2019 | — | Benito Arroliga | Silva,jesus & Eugena T | Warranty Deed · related | — |
| Mar 6, 2008 | — | Jesus Silva | Ponce,luis A | Warranty Deed | $65k · Jose P Garza |
| — | — | Inverca LLC | — | Deed Of Trust · related | $187k · Bancorpsouth |
Description
This exceptional mixed-use property in South Houston, Texas, presents a compelling value-add investment opportunity. Located at 412 N 8th St, 77587, this property encompasses 3,123 square feet on a 7,190 square foot lot and includes three buildings with two stories. The property features a restaurant space, two smaller commercial units, and two residential rental units. Unit 3, a 2-bedroom, 1-bathroom apartment, is currently leased. Unit 2, a 1-bedroom, 1-bathroom apartment, is vacant, offering owner-occupancy potential. Built in 1945 and renovated in 2024, the property boasts a current NOI of $49,500, with a pro-forma NOI of $58,223, reflecting a 9.08% cap rate and a pro-forma cap rate of 10.68%. The asking price is $545,000 ($184.12/sq ft). The current occupancy is 70%, presenting a significant opportunity to increase cash flow by leasing the vacant apartment and the smaller commercial units upon the restaurant lease expiration this year. The property is situated in a non-flooding zone. This five-unit property offers a blend of commercial and residential income streams, making it an attractive investment for owner-users seeking a high return on investment. Detailed financial information is available upon request. Please do not disturb tenants.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- South Houston
- County
- Harris
- State
- Texas
- Longitude
- -95.2217
- Latitude
- 29.6697
- CBSA code
- 26420
- CBSA name
- HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA
