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5723 Airline Dr - AIRLINE RUSH PARK
1.75 Acres of Commercial Land Offered at $2,400,000 in Houston, TX 77076
Investment Highlights
- Hard Corner, Stable Rent Roll, 9 Mobile Home Pads, 1 Mobile Home (Park Owned) and 1 Commercial Ground Lease Pad
Executive Summary
PARK REMODELED IN 2023
NEW UNDERGROUND ELECTRICAL, COMMON AREAS CONSTRUCTED, NEW DRIVEWAYS, BOUNDARY FENCING, COMMON AREA LIGHTING, COMMUNITY MAILBOX, ENTRY AND PARK PLAN IMPROVEMENTS
100% LEASED
9 PADS/GROUND LEASE MH PADS
1 PARK OWNED MOBILE HOME
Commercial Pad - .75 Acres - 6-Year ground lease. 2% bumps annually. Landlord can terminate GL any time after April 2025.
Hard Corner - Great visibility and depth on Airline.
Platted
JULY 1, 2024 - JUNE 31, 2025 NOI - $170,000
PRICE TRANSLATES TO $31 PSF to the DIRT WITH A 7 PERCENT COUPON - HARD CORNER - GENTRIFYING NEIGHBORHOOD - MAJOR THOROUGHFARE
Financial Summary (Actual - 2024) |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$170,000
|
$97,142.86
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Net Operating Income | |
|---|---|
| Annual | $170,000 |
| Annual Per AC | $97,142.86 |
Property Facts
| Price | $2,400,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Conditions | Ground Lease (Leasehold) | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 1.75 AC |
| Price | $2,400,000 |
| Sale Type | Investment |
| Sale Conditions | Ground Lease (Leasehold) |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 1.75 AC |
1 Lot Available
Lot
| Price | $2,400,000 | Lot Size | 1.75 AC |
| Price Per AC | $1,371,429 |
| Price | $2,400,000 |
| Price Per AC | $1,371,429 |
| Lot Size | 1.75 AC |
The mobile home park is licensed. 9 MOBILE HOME PADS - 1 PARK OWNED -100% LEASED Commercial Pad - .75 Acres - 6-year ground lease - 2% annual bumps. Ground Lease - Landlord termination option April 2025 Can be purchased together or separate.
Description
10 Lot Mobile Home Park & Commercial Ground Lease Pad Airline Rush Park (mobile home park) - 100% Leased 9 ground lease mobile home pads 1 park owned mobile home Commercial Pad Site - 100% Leased 100% Leased
zoning
| Zoning Code | None |
| None |
-
Joe Moody -
Black Flag Properties
Presented by
5723 Airline Dr - AIRLINE RUSH PARK
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