121 Henderson StRusk, TX 75785

Property Details for 121 Henderson St

Year built

1960

Construction

CONCRETE

Lot size

0.06 AC

Property size (Sq ft)

2,520 SF

Property type

Commercial real estate

APN

227020000

APU

227020000

Description

This exceptional investment opportunity presents a charming, two-story, 2,520 square foot commercial building located at 121 S Henderson St, Rusk, TX 75785, in the heart of downtown Rusk. Currently zoned for commercial use, the property boasts a strong 7.89% cap rate with a projected NOI of $15,000, and a pro-forma cap rate of 10.53% with a projected NOI of $20,000. The ground floor is currently leased to a pie restaurant under a gross lease agreement expiring January 1, 2025 (approximately 0.1 years remaining). The tenant currently pays $1,550 per month and is likely to renew their lease. The upper level is vacant and presents a significant value-add opportunity. This space could be easily converted into a residential apartment, generating additional rental income and further increasing the property's overall return. The building's historical character adds to its unique appeal and potential for future growth within the thriving downtown Rusk area. This property offers a compelling blend of immediate income and significant upside potential for savvy investors seeking a strong return on investment in a desirable Texas location. The asking price is $190,000, translating to a price per square foot of $75.40.

Location Insight

City

Rusk

County

Cherokee

State

Texas

Latitude

31.7956

Longitude

-95.1491

CBSA code

27380

CBSA name

JACKSONVILLE, TX MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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