1301 Griffin StHouston, TX 77009

Property Details for 1301 Griffin St

Year built

1971

Construction

WOOD FRAME

Lot size

0.11 AC

Property size (Sq ft)

1,976 SF

Property type

Retail space

APN

311750000005

APU

311750000005

Description

This vacant 1,672 square foot retail property in Houston, Texas, presents a unique investment opportunity. Located at 1301 Griffin St, 77009, this established business previously operated as a combined laundromat and convenience store. The asking price is $369,000, translating to $220.69 per square foot. The property features a vintage, well-maintained exterior with limited on-site parking. Inside, the laundromat area includes 15 washers (13 operational) and 16 dryers (10 operational). The adjacent convenience store offers space for a curated selection of everyday items. The property's age is reflected in the equipment, which is older but some remains functional. The sale includes the property and existing inventory. This presents a chance to revitalize a community staple or repurpose the space for a new retail venture. The property is vacant, offering immediate occupancy and flexibility for the new owner. The property is situated in Harris County, providing access to a well-established customer base. This is a turnkey opportunity for an investor seeking a retail property with potential for redevelopment or continued operation as a combined laundromat and convenience store. The property's location and history offer a strong foundation for future success.

• CAP approach

  CAP return

  Valuation

  6%

  $478,758

  6.5%

  $441,930

  7%

  $410,364

• Comparable approach

  Method

  Valuation

  Relative Method

  $303,754

  Geo Method

  $615,258

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $879,280

  Mixed-Use / Specialty

  $433,294

  Hospitality / Lodging

  $308,702

  Office

  $423,366

  Institutional / Educational

  $447,928

  Residential Income

  $524,076

  Multifamily

  $667,691

  Automotive / Energy

  $383,938

  Parking / Income-Based Land

  $139,468

  Restaurant / Food Service

  $210,291

  Healthcare / Senior Housing

  $451,576

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.8086

Longitude

-95.3553

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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