2119 Strand St
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2119 Strand St
20,640 SF 100% Leased Retail Building Galveston, TX 77550 $3,200,000 ($155/SF) 7.69% Cap Rate
Investment Highlights
- Fully leased building
- On the Historic Strand District
- 8 residences, 3 commercial/retail spaces
Executive Summary
One of the most elegant buildings in the heart of the island on Galveston's Historic Strand District. Three story historical building comprised of three successful retail spaces on the ground floor and 8 cool, stylish residential units on floors 2 and 3. Each residence has its own distinct aesthetic, tall ceilings, large windows, some with great loft spaces, brick interior walls, fantastic large, deep terraces great for entertaining and watching Mardi Gras, Dickens on the Strand, and people watching. Well managed and cared for building - roof replastered in 2022/2023, front and back walls replastered 2019 and 2022, all interior and exterior doors replaced, and more. Easy access to the marina and the perfect location for dining, shopping, and entertainment. Visit www.liveonstrand.com for pictures, videos, and floor plans.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
20,640 SF
Building Class
C
Year Built
1870
Price
$3,200,000
Price Per SF
$155
Cap Rate
7.69%
NOI
$246,069
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.07
Lot Size
0.44 AC
Zoning
LI
Frontage
198 FT on Avenue B
Walk Score ®
Very Walkable (84)
Bike Score ®
Very Bikeable (74)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 3505-0621-0003-000 | Total Assessment | $2,060,490 |
| Land Assessment | $54,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,006,490 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
3505-0621-0003-000
Land Assessment
$54,000
Improvements Assessment
$2,006,490
Total Assessment
$2,060,490
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
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Presented by
3 Flowers Realty, LLC
2119 Strand St
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