102 Sealy StAlvin, TX 77511

Property Details for 102 Sealy St

Year built

1908

Lot size

0.22 AC

Property size (Sq ft)

6,810 SF

Property type

Retail properties

Property subtype

Retail space

APN

1235-0047-000

APU

12350047000

Description

This remarkable two-story, 9,297 square foot mixed-use building, located at 102 W Sealy St in Alvin, Texas, presents a unique investment opportunity. Built in 1908 and renovated in 2019, this Class B property boasts a blend of office and retail spaces, currently housing Edward Jones, Credit Central, Parkwood Pharmacy, and Candrian Counselors. The building features five units, offering a diverse tenant base and strong rental history. With a current occupancy rate of 80% (as of July 31, 2021), the property generates a Net Operating Income (NOI) of $112,146, and a pro-forma NOI of $167,856, representing a 5.62% cap rate and a pro-forma cap rate of 8.42%, respectively. The asking price is $1,994,000, translating to $214.48 per square foot and $398,800 per unit. Situated on a 0.5-acre lot, the building includes a working elevator and benefits from recent upgrades to electrical systems and HVAC. Its prime downtown Alvin location, within an Opportunity Zone, enjoys high traffic counts (13,881) and offers significant potential for future growth. This property represents a chance to own a piece of Alvin's history while capitalizing on a strong investment opportunity with a motivated seller. The building's solid construction and recent improvements ensure a stable and potentially lucrative return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $2,050,208

  6.5%

  $1,892,500

  7%

  $1,757,321

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,536,585

  Geo Method

  $5,137,892

• Alternative Use

  Use

  Valuation

  Residential

  $1,596,394

  Hospitality

  $1,462,289

  Educational

  $1,216,607

  Medical

  $1,258,448

  Retail

  $1,892,500

Location Insight

City

Alvin

County

Brazoria

State

Texas

Latitude

29.4241

Longitude

-95.2442

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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