1855 Richey StPasadena, TX 77502

Property Details for 1855 Richey St

Year built

2002

Construction

CONCRETE BLOCKS

Lot size

1.50 AC

Property size (Sq ft)

6,481 SF

Property type

Self service car washes

APN

60010010001

APU

60010010001

Description

This exceptional 6,481-square-foot car wash, built in 2002 and renovated in 2022, sits on a 1.5-acre lot in Pasadena, Texas (77502). Located in Harris County, this single-story building presents a prime investment opportunity. Currently operational, the car wash generates immediate cash flow, offering a strong return on investment. However, the significant redevelopment potential is a key feature. The property's zoning allows for a variety of high-demand uses, including retail, RV parks, self-storage facilities, or multifamily developments. This makes it an attractive option for investors seeking diverse development possibilities in a rapidly growing area. The property benefits from its location within a federally designated Opportunity Zone, providing substantial tax advantages. Furthermore, owner financing is available, offering flexible terms to suit various investor needs. The property's APN is 0060010010001. This is a rare chance to acquire a cash-flowing asset with substantial upside potential in a desirable Texas location. The address is 1855 Richey St.

• CAP approach

  CAP return

  Valuation

  6%

  $1,570,260

  6.5%

  $1,449,470

  7%

  $1,345,940

• Comparable approach

  Method

  Valuation

  Relative Method

  $996,270

  Geo Method

  $2,017,960

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,883,910

  Mixed-Use / Specialty

  $1,421,140

  Hospitality / Lodging

  $1,012,500

  Office

  $1,388,580

  Institutional / Educational

  $1,469,140

  Residential Income

  $1,718,890

  Multifamily

  $2,189,930

  Automotive / Energy

  $1,259,260

  Parking / Income-Based Land

  $457,436

  Restaurant / Food Service

  $689,725

  Healthcare / Senior Housing

  $1,481,100

Location Insight

City

Pasadena

County

Harris

State

Texas

Latitude

29.6839

Longitude

-95.2234

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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