5710 Wayside DrHouston, TX 77028

Property Details for 5710 Wayside Dr

Year built

1960

Construction

BRICK

Lot size

0.27 AC

Property size (Sq ft)

6,656 SF

Property type

Retail properties

Property subtype

Strip malls

APN

300170210002

APU

300170210002

Description

This exceptional Houston, Texas retail property, located at 5710 N Wayside Dr, 77028, presents a compelling value-add investment opportunity. The 3,820 square foot building sits on an 11,666 square foot lot and is comprised of four tenants across a single story structure, currently boasting 83% occupancy. Built in 1960 and renovated in 2006, the property generates a net operating income (NOI) of $25,455. The lease structure includes a gross lease for one tenant and month-to-month leases for the remaining tenants. This multi-tenant retail center offers significant potential for increased revenue through lease adjustments and property improvements. The property's location in Harris County provides convenient access to major thoroughfares and a diverse customer base. Owner financing is available, making this an attractive proposition for investors seeking a strong return on investment in a thriving market. The property's APN is 0300170210002. This is a rare opportunity to acquire a well-located, income-producing retail property with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,003,845

  6.5%

  $1,849,703

  7%

  $1,717,581

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,479,223

  Geo Method

  $5,021,704

• Alternative Use

  Use

  Valuation

  Residential

  $1,560,294

  Hospitality

  $1,429,221

  Educational

  $1,189,095

  Medical

  $1,229,990

  Retail

  $1,849,703

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.8137

Longitude

-95.2842

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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