3802 Lockwood DrHouston, TX 77026

Property Details for 3802 Lockwood Dr

Year built

1973

Construction

CONCRETE BLOCKS

Lot size

0.34 AC

Property size (Sq ft)

3,200 SF

Property type

Retail space

APN

651250380811

APU

651250380811

Description

This exceptional Houston commercial property, located at 3802 & 3810 Lockwood Dr, offers 33,520 square feet on a 33,520 square foot lot. Currently vacant, this property presents a unique investment opportunity for owner-users. The building, previously used as a grocery store, boasts a 2900 square foot structure situated on a busy corner intersection of Lockwood and Collingsworth, ideal for a variety of uses including a gas station, multi-family development, shopping center, or restaurant. The property's strategic location in the Greater Fifth Ward offers significant potential for growth, with the added benefit of proximity to downtown Houston. Currently, the property generates income by renting space to approximately eight trucks on a month-to-month basis, with potential for expansion. Further enhancing its appeal, planned train and bike tracks are slated for development in the area. The asking price is $650,000, and the property is being sold "as is." This presents an unparalleled chance to capitalize on the burgeoning development in this vibrant Houston neighborhood. Due diligence is recommended.

• CAP approach

  CAP return

  Valuation

  6%

  $963,387

  6.5%

  $889,280

  7%

  $825,760

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,191,934

  Geo Method

  $2,414,281

• Alternative Use

  Use

  Valuation

  Residential

  $750,141

  Hospitality

  $687,125

  Educational

  $571,680

  Medical

  $591,341

  Retail

  $889,280

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.7942

Longitude

-95.316

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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