501 Main St Highlands, TX 77562

Property Details for 501 Main St

Year built

1972

Construction

METAL FRAME

Lot size

0.21 lot acres

Property size

4,126 SF

Property type

Retail space

APN

591400070007

APU

591400070007

Description

This exceptional investment opportunity presents a 5,657 square foot mixed-use property located at 501 S. Main Street, Highlands, Texas 77562. The property boasts a strong 9.06% cap rate, generating a substantial net operating income (NOI) of $253,560 annually. Currently operating at 100% occupancy with ten diverse tenants, this two-story building offers a secure and diversified income stream. The property includes nine individual units, a mix of office space, retail, and a successful laundry business featuring state-of-the-art Swiss washing machines. Additional features include 35 parking spaces and a truck yard currently leased to a trucking company (small trailers included in the sale). The property sits on a sizable lot with an RV site at the rear. Conveniently located just minutes from I-10, this property benefits from low tax rates within the unincorporated area of Highlands, Harris County. The asking price is $2,800,000, translating to $494.96 per square foot. This is a gross lease property with no tenant credit rating information available. The property is classified as Class C and is offered as a net lease investment. This is a rare opportunity to acquire a well-established, high-performing multi-tenant property with significant upside potential.

Location Insight

City

Highlands

County

Harris

State

Texas

Longitude

-95.0566

Latitude

29.81

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments