102 Gordon StAlvin, TX 77511

Property Details for 102 Gordon St

Year built

1912

Lot size

0.33 AC

Property size (Sq ft)

10,499 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

3497-2000-000

APU

34972000000

Description

This exceptional mixed-use property, located at 100/102 N Gordon St in Alvin, Texas, presents a unique investment opportunity. The 14,036 square foot building, constructed in 1912 and renovated in 2015, features a blend of executive office, restaurant, and storefront spaces, currently housing four tenants including Edward Jones and Gordon Street Tavern. With a stabilized investment profile, a 7.41% cap rate, and a strong NOI of $133,391, this property offers significant potential. The current lease structure is NNN, with a multi-tenant occupancy of 50% and a remaining lease term of 8.9 years (commencing January 1, 2020, and expiring October 15, 2033). Leases include 3-year rent bumps to market rate. The property sits on a 0.5-acre lot and is a two-story building. The asking price is $1,800,000 ($128.24/sq ft). This prime location in downtown Alvin offers high visibility and significant foot traffic. The property's historic character and versatile spaces make it an ideal investment for both seasoned investors and those seeking a unique opportunity in a thriving Texas market. The building is classified as Class B and is situated in a Qualified Opportunity Zone. Further development potential exists on the second floor.

Location Insight

City

Alvin

County

Brazoria

State

Texas

Latitude

29.4241

Longitude

-95.2438

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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