3275 M L King Jr PkwyBeaumont, TX 77705

Property Details for 3275 M L King Jr Pkwy

Year built

1968

Lot size

1.00 AC

Property size (Sq ft)

10,000 SF

Property type

Auto shops

APN

300007-000-051000-00000

APU

9223372036854775807

Description

This exceptional Beaumont, Texas industrial property offers a unique investment opportunity. Encompassing 2.78 acres and boasting 38,743 rentable square feet, the portfolio comprises four buildings totaling approximately 649,691 square feet. Individual buildings range from 2,300 to 12,793 square feet, offering flexibility for various uses. The property features a two-story commercial office building (12,793 sq ft) complete with an elevator, bathrooms, and a lobby, along with three metal buildings (10,000 sq ft, 6,650 sq ft, and a combined 9,300 sq ft). The site benefits from a prime location on S M L King Jr Pkwy, directly across from a Starbucks, with approximately 635 feet of frontage and high visibility due to over 30,000 vehicles passing daily. Built in 1968, the property is zoned LI and is available for sale at $775,000. The seller will consider dividing the multiple APNs, presenting a compelling opportunity for both individual investors and larger portfolio acquisitions. The property is currently vacant and offered with a NNN lease type.

• CAP approach

  CAP return

  Valuation

  6%

  $4,040,996

  6.5%

  $3,730,150

  7%

  $3,463,710

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,759,768

  Geo Method

  $7,544,628

• Alternative Use

  Use

  Valuation

  Residential

  $3,146,521

  Hospitality

  $2,882,196

  Educational

  $2,397,953

  Medical

  $2,480,423

  Retail

  $3,730,150

Location Insight

City

Beaumont

County

Jefferson

State

Texas

Latitude

30.0548

Longitude

-94.0821

CBSA code

13140

CBSA name

BEAUMONT-PORT ARTHUR, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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