321 Alabama StHouston, TX 77006

Property Details for 321 Alabama St

Year built

1955

Construction

BRICK

Lot size

0.33 AC

Property size (Sq ft)

3,120 SF

Property type

Investment properties

Property subtype

Live-work space

APN

82600000001

APU

82600000001

Description

This exceptional mixed-use property, located at 321 W Alabama St in Houston, Texas, presents a compelling investment opportunity. The 6,720 square foot building, constructed in 1955, sits on a 14,375 square foot lot and boasts a desirable location in the heart of Historic First Montrose Commons, bordering Midtown. The two-story, Class C building features six units: two commercial retail spaces (each with two bathrooms and washer/dryer connections), and four updated residential studios, each with individual electric metering. Additionally, one unit serves as a workshop and owner storage. The property offers 21 parking spaces, a significant advantage in this vibrant area. With 50 feet of frontage on West Alabama Street, the property enjoys excellent visibility and accessibility. The building is a non-contributing structure within the historic district, allowing for potential future development or modifications. Currently operating under a NNN lease with four tenants, the property is offered at $2,300,000, representing a price per square foot of $342.26. This owner/user investment presents a rare blend of historic charm, modern functionality, and strong rental income potential in one of Houston's most coveted neighborhoods. The property's versatility, ample parking, and prime location make it an ideal investment for both seasoned and emerging investors.

• CAP approach

  CAP return

  Valuation

  6%

  $638,981

  6.5%

  $589,829

  7%

  $547,698

• Comparable approach

  Method

  Valuation

  Relative Method

  $461,165

  Geo Method

  $934,097

• Alternative Use

  Use

  Valuation

  Residential

  $731,388

  Hospitality

  $669,947

  Educational

  $557,388

  Medical

  $576,558

  Retail

  $867,048

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.7384

Longitude

-95.3842

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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