619 Dula StAlvin, TX 77511

Property Details for 619 Dula St

Year built

1964

Lot size

0.14 AC

Property size (Sq ft)

3,218 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

6895-0072-000

APU

68950072000

Description

This exceptional Alvin, Texas mixed-use property presents a unique investment opportunity. The 3,218 square foot building, constructed in 1964 and renovated in 2018, sits on a 6,250 square foot lot and features a combined townhouse and salon space. Currently 100% occupied with two tenants under a gross lease, the property boasts a strong NOI of $19,386, with a pro-forma NOI of $25,686. The current lease term has 1.5 years remaining, expiring May 31, 2026. The property offers 10 parking spaces and is zoned for commercial use. Located at 619 Dula St, Alvin, TX 77511, this property benefits from a prime location in the heart of Alvin, providing easy access to local amenities and businesses. The asking price is $350,000, representing a price per square foot of $108.76 and a current cap rate of 5.54%, with a pro-forma cap rate of 7.34%. This turnkey operation offers immediate income and significant upside potential in a growing community. The property's versatile layout caters to a wide range of potential buyers and tenants, making it an attractive investment for both owner-users and investors seeking strong returns. The property's combination of residential and commercial space provides a unique opportunity to live and work in a thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $659,052

  6.5%

  $608,355

  7%

  $564,902

• Comparable approach

  Method

  Valuation

  Relative Method

  $475,650

  Geo Method

  $963,437

• Alternative Use

  Use

  Valuation

  Residential

  $754,361

  Hospitality

  $690,990

  Educational

  $574,896

  Medical

  $594,667

  Retail

  $894,282

Location Insight

City

Alvin

County

Brazoria

State

Texas

Latitude

29.4192

Longitude

-95.2393

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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