4301 AvenueGalveston, TX 77550

Property Details for 4301 Avenue

Year built

1961

Property size (Sq ft)

2,100 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple, 2,100 square foot bar located at 4301 Ave S, Galveston, TX 77550. The property boasts a prime hard corner location and is currently 100% occupied under a Net Lease (NNN) agreement with a single tenant. The lease commenced December 6, 2021, and expires February 28, 2027, leaving approximately 2.3 years remaining. The tenant, a bar operator, consistently pays rent, generating an annual net operating income (NOI) exceeding $20,051. The asking price is $450,000, representing a compelling cap rate of 4.46% and a price per square foot of $214.29. Significant renovations were completed between 2019 and 2023, including exterior siding, a new hurricane-rated roof (2019), completely remodeled bathrooms and main area, and a new AC unit. The landlord's responsibilities are limited to roof and structure maintenance. The property features a 2,175 square foot lot, is zoned C, and was built in 1961. The lease includes annual rent bumps of 3%. This is a strong NNN investment with a reliable tenant and a solid remaining lease term. The property is offered as a 1031 exchange opportunity. APN: 3510-0157-1007-001.

Location Insight

City

Galveston

County

Galveston

State

Texas

Latitude

29.2807

Longitude

-94.8106

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