107 Oak Park DrClute, TX 77531

Property Details for 107 Oak Park Dr

Year built

2013

Lot size

7.83 AC

Property size (Sq ft)

1,073 SF

Property type

Office buildings

APN

6826-0500-110

APU

68260500110

Description

This exceptional 32-unit apartment building, constructed in 2014, presents a compelling investment opportunity in Clute, Texas. The property boasts a total of 30,512 square feet of net rentable space, currently operating at 66% occupancy. The Class B building is situated on a prime 4.8-acre lot, offering significant potential for future development. Its strategic location adjacent to Highway 288 ensures convenient access to the entire trade area, making it an attractive proposition for residents and businesses alike. The property benefits from its proximity to major employers and educational institutions, including Brazosport College, Ogg Elementary School, Clute Intermediate, and Brazoswood High School, all within two miles. Furthermore, its location within the Houston MSA, the fifth-largest metro area in the country and second in population growth, guarantees a robust and expanding market. The thriving communities of Lake Jackson and Freeport, along with the presence of Dow Chemical Company, contribute to a strong and stable workforce demographic. This combination of existing income-generating units and substantial undeveloped land makes this property a rare find in a rapidly growing market. The property's 2014 construction ensures relatively low maintenance costs and modern amenities, further enhancing its investment appeal. This is a unique opportunity to acquire a well-positioned multifamily asset with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $219,752

  6.5%

  $202,848

  7%

  $188,359

• Comparable approach

  Method

  Valuation

  Relative Method

  $158,599

  Geo Method

  $321,245

• Alternative Use

  Use

  Valuation

  Residential

  $251,532

  Hospitality

  $230,402

  Educational

  $191,692

  Medical

  $198,284

  Retail

  $298,187

Location Insight

City

Clute

County

Brazoria

State

Texas

Latitude

29.0263

Longitude

-95.3937

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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