951 Loop 304Crockett, TX 75835

Property Details for 951 Loop 304

Year built

1987

Lot size

4.05 AC

Property size (Sq ft)

61,234 SF

Property type

Commercial real estate

APN

4231126000000000333

APU

4231126000000000333

Description

This 15,787 square foot Class B medical office building, located at 951 E Loop 304, Crockett, TX 75835, presents a compelling value-add investment opportunity. Currently 55% occupied by CHI St. Luke's under a gross lease with 1.1 years remaining (expiring 12/31/2025, with two 3-year options), the property offers significant upside potential. The asking price is $1,300,000, representing a price per square foot of $82.35 and a current cap rate of 10.79%. The building, constructed in 1987, boasts a strong net operating income (NOI) of $140,213. Its strategic location near MidCoast Medical Center Crockett and within a dense retail and medical corridor ensures high visibility and accessibility. The property's proximity to major roadways and amenities, combined with the established tenant and potential for increased occupancy, makes it an attractive investment in the thriving Texas healthcare market. The significant vacancy rate allows for substantial NOI growth upon lease-up, offering a high return on investment. The property is situated in Crockett, Texas, a town known for its small-town charm, rich history, and access to outdoor recreational opportunities. The property's location offers a blend of community appeal and strategic commercial advantages. The property's APN is 004231126000000000333.

• Alternative Use

  Use

  Valuation

  Residential

  $19,267,406

  Hospitality

  $17,648,840

  Educational

  $14,683,628

  Medical

  $15,188,620

  Retail

  $22,841,198

Location Insight

City

Crockett

County

Houston

State

Texas

Latitude

31.3279

Longitude

-95.4381

Property Tax & Assessments

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