1915 45th St - Storefront Retail/Residential FOR SALE


Galveston, TX 77550- Lasker Park
$1,000,000 USD
713-269-1222
1915 45th St, Galveston, TX for Sale
$1,000,000 USD
Storefront Retail/Residential - FOR SALE
1/6
null | 10% Cap Rate

1915 45th St
Galveston, TX 77550
Lasker Park


HIGHLIGHTS

  • Mixed-Use Asset (Residential + Commercial + Storage)
  • 4 Commercial Storefronts with Long-Term Tenants
  • 7 Residential Units (5 two bedrooms & 2 one bedroom units)
  • Strong Historical Occupancy with value-Add Opportunity Through Rent Optimization
  • Multiple Income Streams Providing Diversification
  • Prime Galveston Location

OVERVIEW

Drive-by only. Exceptional opportunity to acquire a high-yield mixed-use investment property in Galveston, Texas. This diversified asset consists of seven residential apartments and four commercial storefronts, providing multiple income streams and a strong foundation of in-place cash flow. Several commercial tenants have occupied the property for many years, including tenants dating back to 2010, demonstrating strong tenant retention and location stability. The property currently generates approximately $152,400 in annual gross income and offers an in-place cap rate of approximately 10% based on current operations. Current rents reflect a conservative baseline and, in many cases, remain below the potential achievable through interior updates, exterior improvements, and strategic property enhancements. A new owner has the opportunity to increase revenues through unit renovations, rental optimization, and continued property improvements while benefiting from immediate cash flow from day one. With diversified residential and commercial income, limited landlord utility responsibilities, and significant value-add potential, this property presents an attractive opportunity for both cash-flow investors and investors seeking long-term appreciation. Rare opportunity to acquire a well-positioned coastal Texas mixed-use asset offering strong current returns and meaningful upside potential.

FOR SALE DETAILS

PRICE

$1,000,000 USD

PRICE/SF

$99 USD /SF

CAP RATE

10%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Convenience Store, Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

SPRINKLERS

-

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

5,998 SF

ZONING

None

APN/PARCEL ID

2965-0109-0013-000

ASK ABOUT THIS PROPERTY

Sharlene AbgharyUrban Access PropertiesMore Info
713-269-1222

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Sharlene AbgharyUrban Access PropertiesMore Info
713-269-1222

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.