1022 Pasadena BlvdPasadena, TX 77506

Property Details for 1022 Pasadena Blvd

Year built

1960

Construction

BRICK

Lot size

0.63 AC

Property size (Sq ft)

5,301 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

650330000052

APU

650330000052

Description

This exceptional Pasadena, TX commercial property presents a prime investment opportunity. Located at 1022 Pasadena Blvd, 77506, this single-story, 8,041 square foot building sits on a 27,573 square foot lot and offers 42 parking spaces. The property, built in 1960 and renovated in 2019, is classified as a Class B, multi-tenant office building with a mix of medical, shopping center, and traditional office spaces. Currently boasting 90% occupancy across its eight tenants, this stabilized investment features a 6.94% cap rate and an asking price of $845,000. Recent improvements include a new roof (2017), new soffits, exterior paint, modern exterior lighting, and updated electrical wiring. The property benefits from a great location, eye-catching signage, and an oversized billboard for maximum tenant visibility. The lease type is NNN. This low-maintenance property is ideal for investors seeking consistent income generation. The property is for sale by owner.

• CAP approach

  CAP return

  Valuation

  6%

  $1,085,654

  6.5%

  $1,002,142

  7%

  $930,560

• Comparable approach

  Method

  Valuation

  Relative Method

  $783,537

  Geo Method

  $1,587,066

• Alternative Use

  Use

  Valuation

  Residential

  $1,242,656

  Hospitality

  $1,138,266

  Educational

  $947,024

  Medical

  $979,594

  Retail

  $1,473,148

Location Insight

City

Pasadena

County

Harris

State

Texas

Latitude

29.695

Longitude

-95.2016

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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