1 Main AveLaredo, TX 78040

Property Details for 1 Main Ave

Year built

1973

Lot size

0.71 AC

Property size (Sq ft)

126,040 SF

Property type

Hotels

APN

106-00281-010

APU

10600281010

Description

This exceptional 126,045 square foot retail property, located at 1 S. Main Ave. in Laredo, presents a unique investment opportunity. The building, constructed in 1973, boasts 15 stories and features three elevators. The property sits on a 0.709-acre lot (30,865 square feet) and is zoned B-3, allowing for a variety of commercial uses. Two retail spaces are currently available, ranging from 8,350 to 9,140 square feet. Its prime downtown location offers unparalleled access to two international bridges connecting the US and Mexico, attracting millions of pedestrians and vehicles annually. The property's proximity to the Rio Grande River and the Outlet Shoppes at Laredo, a 430,000+ square foot mixed-use development attracting over 4.5 million shoppers yearly, further enhances its desirability. The building's former use as a hotel presents a compelling redevelopment opportunity, potentially suitable for senior housing or public housing. The first floor is ideally suited for restaurants, while the fifteenth floor could be transformed into a ballroom or nightclub. This is a rare chance to acquire a substantial retail property in a high-traffic, strategically located area with significant redevelopment potential. The APN is 161811.

• CAP approach

  CAP return

  Valuation

  6%

  $19,467,276

  6.5%

  $17,969,794

  7%

  $16,686,237

• Comparable approach

  Method

  Valuation

  Relative Method

  $25,862,074

  Geo Method

  $67,316,008

• Alternative Use

  Use

  Valuation

  Residential

  $19,617,794

  Hospitality

  $17,969,794

  Educational

  $14,950,658

  Medical

  $15,464,834

  Retail

  $23,256,578

Location Insight

City

Laredo

County

Webb

State

Texas

Latitude

27.5011

Longitude

-99.5131

CBSA code

29700

CBSA name

LAREDO, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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