1009 Burke RdPasadena, TX 77506

Property Details for 1009 Burke Rd

Year built

1975

Construction

CONCRETE BLOCKS

Lot size

3.13 AC

Property size (Sq ft)

3,400 SF

Property type

Warehouses

Property subtype

Self storage facilities

APN

321070010044

APU

321070010044

Description

Exceptional investment opportunity in Pasadena, Texas, presents a 601-unit self-storage facility totaling 60,595 square feet of net rentable space. This value-add property, ideal for a 1031 exchange, is priced at $5,900,000. The facility comprises two locations, 1009 Burke Rd and 2003 Cherrybrook Ln, situated approximately one mile apart and operated as a single business. While the majority of the facility is in good condition, some deferred maintenance is present. This includes roof replacements needed on a few buildings, some door replacements, and parking lot repairs, estimated at a total cost of $500,000. This presents a significant opportunity for an investor to enhance the property's value through strategic improvements. The property is located in Harris County, Texas, with a zip code of 77506. Detailed financial reports are available upon request via email. Contact information must be provided for a response.

• CAP approach

  CAP return

  Valuation

  6%

  $1,639,010

  6.5%

  $1,512,930

  7%

  $1,404,860

• Comparable approach

  Method

  Valuation

  Relative Method

  $804,082

  Geo Method

  $1,628,680

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $760,406

  Mixed-Use / Specialty

  $745,547

  Hospitality / Lodging

  $531,167

  Office

  $728,464

  Institutional / Educational

  $770,726

  Residential Income

  $901,750

  Multifamily

  $1,148,860

  Automotive / Energy

  $660,622

  Parking / Income-Based Land

  $239,976

  Restaurant / Food Service

  $361,837

  Healthcare / Senior Housing

  $777,002

Location Insight

City

Pasadena

County

Harris

State

Texas

Latitude

29.6953

Longitude

-95.1818

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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