2021 The StrandGalveston, TX 77550

Property Details for 2021 The Strand

Year built

1894

Property size (Sq ft)

17,824 SF

Property type

Hospitality properties

Property subtype

Other retail properties

Description

This exceptional Galveston property, a meticulously renovated two-story building constructed in 1894, offers a unique blend of hospitality and retail opportunities. Spanning 17,824 square feet, the property features a stunning 9,000-square-foot ballroom, perfect for weddings and large events. A 1,500-square-foot balcony on the second floor provides breathtaking views, complementing the ballroom's expansive space. The ground floor houses a restaurant, and several additional vacant retail/restaurant spaces are available for lease, presenting significant income potential. The building includes an elevator for convenient access to all levels. This mixed-use property is currently operating as an event center and restaurant, with existing leases in place for major annual events in 2025 and 2026. The seller is willing to assist the buyer in navigating these events. The property's rich history, combined with its modern amenities and prime location at 2021 The Strand in Galveston, Texas (zip code 77550), makes it an exceptional investment opportunity. The sale includes existing furniture, fixtures, and equipment (FFE). This is a 1031 exchange eligible property, consisting of one building with six units, and is offered as a net lease investment. Showings are by appointment only

Location Insight

City

Galveston

County

Galveston

State

Texas

Latitude

29.3079

Longitude

-94.7917

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