1727 Fannin StVernon, TX 76384

  • Commercial real estate
  • 19,800 SF
For Sale
$350,000 View listing

Property Details for 1727 Fannin St

Year built
1928
Lot size
0.11 AC
Property size (Sq ft)
19,800 SF
Property type
Commercial real estate
APN
2
APU
2

Description

This remarkable 14,580-square-foot commercial building, situated on a 0.11-acre lot at 1727 Fannin Street in Vernon, Texas, presents a rare investment opportunity. Constructed in 1928 by renowned Texas rancher C.T. Herring, the building boasts a stunning, meticulously preserved terra-cotta facade featuring the original Montgomery Ward & Company logo – "The Spirit of Progress." The architectural details are breathtaking, including urn statuary, foliage swags, and various medallions, all contributing to its historical significance. Originally serving as a Montgomery Ward store, this four-story structure offers a versatile layout suitable for a variety of commercial uses. The interior includes a blend of retail and warehouse space, providing ample room for diverse business needs. Adding to its unique appeal, the building also contains a residential apartment and a kitchen. While the original freight elevator was operational until 2023, its current status requires further investigation. This property offers a chance to own a piece of Texas history and capitalize on its significant potential in the vibrant Vernon market. Priced at $350,000, this is an exceptional opportunity for a discerning investor seeking a unique and historically significant commercial property. The building's prominent location and iconic facade ensure high visibility and potential for strong returns.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $2,942,306
    Hospitality
    $2,695,137
    Educational
    $2,242,322
    Medical
    $2,319,439
    Retail
    $3,488,057

Location Insight

City
Vernon
County
Wilbarger
State
Texas
Latitude
34.153
Longitude
-99.2852
CBSA code
46900
CBSA name
VERNON, TX MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$873
$6,550
$28,840
$35,390
-
$6,550
$28,840
$35,390

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