For Sale
$450,000
4301 Avenue Galveston, TX 77550
High-return, 100% occupied bar. Strong lease in place.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 139
Highlights
- Fee-simple, 2,100 SF bar on a hard corner lot in Galveston, TX.
- Currently 100% occupied under a NNN lease expiring February 2027 (approx. 2.3 years remaining).
- Annual NOI exceeding $20,051; asking price $450,000 (4.46% cap rate, $214.29/SF).
- Significant renovations (2019-2023): hurricane-rated roof, exterior siding, remodeled bathrooms & main area, new AC unit. Landlord responsible for roof & structure.
- Lease includes 3% annual rent increases; offered as a 1031 exchange opportunity.
Property Details for 4301 Avenue
- Property type
- Retail properties, Bars
- Square Feet
- 2,100 SF
- Class
- C
- Year Built/Renovated
- 1961/2019
- Buildings
- 1
- Stories
- 1
- Units
- 1
Location Insight
- City
- Galveston
- County
- Galveston
- State
- Texas
- Latitude
- 29.2806988
- Longitude
- -94.8106
Nearby Similar for Sale
FAQs
- What type of property is this?
- Retail property - High-return, 100% occupied bar. Strong lease in place.
- Where is the retail property located?
- The property is located at 4301 Avenue Galveston, TX.
- What is the asking price?
- The asking price for this property is $450,000.
- What are key features of this property?
- This property features: Fee-simple, 2,100 SF bar on a hard corner lot in Galveston, TX.; Currently 100% occupied under a NNN lease expiring February 2027 (approx. 2.3 years remaining).; Annual NOI exceeding $20,051; asking price $450,000 (4.46% cap rate, $214.29/SF).
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