427 Market StGalveston, TX 77550

Property Details for 427 Market St

Year built

2017

Lot size

0.86 AC

Property size (Sq ft)

13,000 SF

Property type

Commercial real estate

APN

3505-0484-0001-000

APU

350504840001000

Description

This exceptional commercial property, located at 427 Market St, Galveston, TX 77550, offers a diverse range of office spaces ideal for various businesses. The two-building complex, constructed in 2017, boasts a total of 13,000 square feet, with 10 individual suites available. Spaces range from a minimum of 1,000 square feet to a maximum contiguous space of 6,500 square feet, providing flexibility for businesses of all sizes. The property sits on a 0.85-acre lot and features ample parking with 52 spaces. Currently, 10,500 square feet is available for lease. The building is single-story, with no elevators. The property is zoned commercial and enjoys a prime location in Galveston's thriving submarket, directly across from the 86-acre UTMB campus. This strategic location offers unparalleled access to a significant workforce, with over 20,931 employees within a 15-minute walk. The property is conveniently located near 4th St. and benefited from no damage during Hurricane Harvey. New tenants may be eligible for up to a $15.00 per square foot tenant improvement allowance. Galveston's robust economy, fueled by UTMB's presence and a thriving tourism sector (8.12 million visitors in 2022, spending nearly $1.2 billion), presents a compelling investment opportunity. This property is perfectly positioned to capitalize on Galveston's continued growth and development.

• Alternative Use

  Use

  Valuation

  Residential

  $3,047,449

  Hospitality

  $2,791,447

  Educational

  $2,322,451

  Medical

  $2,402,324

  Retail

  $3,612,701

Location Insight

City

Galveston

County

Galveston

State

Texas

Latitude

29.3107

Longitude

-94.7726

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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