About This Restaurant
Investment Highlights
Executive Summary
Excellent investment opportunity with upside potential. A two-tenant income property located near EXXON/MOBLE on Bayway Drive in Baytown. 5,250 SF is built out as restaurant and occupied by Lercy?s. 2,250 SF is office and is occupied by EXXON/MOBIL. It is priced well below replacement cost and includes an additional 2.5 acres. Based on a Proforma of the current leases the CAP Rate 7.06 including allowances for maintenance and vacancies. Can be purchased with 7210 Bayway Dr. for $1,700,000 at an 8.15 CAP.
Property Details
- Sale Type Investment
- Property Type Office Office General Retail Restaurant Office
- Building Size 11,787
- Building Class C
- Year Built 2021
- Price 1,300,000
- Price Per SF 110
- Cap Rate 7.06
- NOI 91,780
- Percent Leased 100
- Tenancy Multiple
- Building Height 1 Story
- Typical Floor Size 7,500
- Building FAR 0.09
- Land Acres 2.85 AC
Property Taxes
| Parcel Number | 0591430000240 | Improvements Assessment | $528,045 |
| Land Assessment | $991,086 | Total Assessment | $1,519,131 |
| Date Created: | 2024-07-16 04:23:44 | Last Updated: | 2024-07-16 04:23:44 |
| Address: | 7600 Bayway Dr , Baytown, Texas, 77520 | ||