1855 Richey StPasadena, TX 77502
- Retail properties
- 6,481 SF
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
- Retail properties
- Property subtype
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,951,160
- 6.5%
- $1,801,070
- 7%
- $1,672,423
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,414,039
- Geo Method
- $4,889,674
-
Alternative Use
- Use
- Valuation
- Residential
- $1,519,270
- Hospitality
- $1,391,644
- Educational
- $1,157,831
- Medical
- $1,197,651
- Retail
- $1,801,070
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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