For Sale
$1,800,000

102 Gordon StAlvin, TX 77511

Historic Downtown Alvin Mixed-Use

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional mixed-use property, located at 100/102 N Gordon St in Alvin, Texas, presents a unique investment opportunity. The 14,036 square foot building, constructed in 1912 and renovated in 2015, features a blend of executive office, restaurant, and storefront spaces, currently housing four tenants including Edward Jones and Gordon Street Tavern. With a stabilized investment profile, a 7.41% cap rate, and a strong NOI of $133,391, this property offers significant potential. The current lease structure is NNN, with a multi-tenant occupancy of 50% and a remaining lease term of 8.9 years (commencing January 1, 2020, and expiring October 15, 2033). Leases include 3-year rent bumps to market rate. The property sits on a 0.5-acre lot and is a two-story building. The asking price is $1,800,000 ($128.24/sq ft). This prime location in downtown Alvin offers high visibility and significant foot traffic. The property's historic character and versatile spaces make it an ideal investment for both seasoned investors and those seeking a unique opportunity in a thriving Texas market. The building is classified as Class B and is situated in a Qualified Opportunity Zone. Further development potential exists on the second floor.

Highlights

  • Prime Downtown Alvin Location
  • Strong Historical Rental Income
  • Located in Qualified Opportunity Zone
  • Second Floor Redevelopment Potential
  • High Traffic Count (13,881 vehicles daily)
  • Seller Highly Motivated

Property Details for 102 Gordon St

Property type
Retail properties, Restaurants
Square Feet
14,036 SF
Class
B
Year Built/Renovated
1912/2015
Buildings
1
Stories
2
Lot Size (sq. ft)
21,780 SF
Units
5

Location Insight

City
Alvin
County
Brazoria
State
Texas
Latitude
29.423844937126
Longitude
-95.244103741928
102 Gordon St, Alvin, Texas

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102 Gordon St
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