1855 Richey StPasadena, TX 77502

  • Retail properties
  • 6,481 SF
For Sale

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
1855 Richey St, Pasadena, Texas

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$10,231
$391,176
$705,287
$1,096,463
-
$391,176
$705,287
$1,096,463

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