3985 Underwood RdLa Porte, TX 77571

Property Details for 3985 Underwood Rd

Year built

1983

Construction

METAL FRAME

Lot size

0.55 AC

Property size (Sq ft)

7,700 SF

Property type

Retail space

APN

431480000265

APU

431480000265

Description

This exceptional 1,350-square-foot retail shell space is located at 3985 Underwood Rd, La Porte, TX 77571, offering high visibility at a prominent corner location. The property, part of a larger 10,500-square-foot building with two suites, sits on 1.12 acres of land and boasts ample parking (31 spaces, a 2.5/1000 ratio). Built in 1983 and extensively renovated in 2021, this Class B property presents a turnkey opportunity for various businesses. The space is ideal for a tea house, small office, or fast-food establishment, given its location within a populated area surrounded by residential neighborhoods and apartments, and adjacent to a new laundromat. High traffic counts ensure excellent exposure. The landlord offers assistance with build-out. The asking rent is $19 per square foot per year, triple net. A minimum five-year lease term is preferred. The property features one story and no elevators. Note that smoke shops are not permitted.

• CAP approach

  CAP return

  Valuation

  6%

  $2,318,150

  6.5%

  $2,139,831

  7%

  $1,986,986

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,868,092

  Geo Method

  $5,809,364

• Alternative Use

  Use

  Valuation

  Residential

  $1,805,027

  Hospitality

  $1,653,395

  Educational

  $1,375,606

  Medical

  $1,422,915

  Retail

  $2,139,831

Location Insight

City

La Porte

County

Harris

State

Texas

Latitude

29.6523

Longitude

-95.0861

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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