1820 County Road 36Angleton, TX 77515

Property Details for 1820 County Road 36

Year built

1900

Lot size

10.13 AC

Property size (Sq ft)

8,780 SF

Property type

Residential income homes

Property subtype

Serviced apartments

APN

0122-0036-120

APU

1220036120

Description

This exceptional investment opportunity presents a fee-simple ownership interest in a 25,000-square-foot medical office building in Angleton, Texas. The property, built in 1900 and renovated in 1993, sits on a 10.13-acre lot at 1820 County Rd 36, 77515. Currently 100% occupied by Serenity Light Recovery, a well-established addiction treatment center operating since 2014, the property is offered at $5,555,556, representing a price per square foot of $222 and a 9% cap rate. The absolute NNN lease boasts a remaining term of 15 years with 2.5% annual rent bumps and ten 5-year options, ensuring long-term, stable income. The tenant handles all property taxes, insurance, and maintenance, providing a truly passive investment. The center's strong operating history and positive online reviews, averaging 4.8 out of 5 stars, demonstrate its success and market position within the Houston MSA, the fifth most populous in the U.S. The lease's built-in inflationary protection, coupled with Texas's zero income tax, makes this a compelling investment in a recession-resistant sector. The NOI is $500,000. This is a sale-leaseback transaction.

• CAP approach

  CAP return

  Valuation

  6%

  $2,229,717

  6.5%

  $2,058,200

  7%

  $1,911,186

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,011,537

  Geo Method

  $4,074,398

• Alternative Use

  Use

  Valuation

  Residential

  $2,058,200

  Hospitality

  $1,885,300

  Educational

  $1,568,548

  Medical

  $1,622,492

  Retail

  $2,439,963

Location Insight

City

Angleton

County

Brazoria

State

Texas

Latitude

29.2763

Longitude

-95.4861

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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