1915 45th St - Storefront Retail/Residential FOR SALE


Galveston, TX 77550- Lasker Park
$1,375,000 USD
713-269-1222
1915 45th St, Galveston, TX for Sale
$1,375,000 USD
Storefront Retail/Residential - FOR SALE
1/11
null | 10.8% 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)
  • Additional Detached Residential Structures
  • Multiple Income Streams Providing Diversification
  • Strong Historical Occupancy with value-Add Opportunity Through Rent Optimization

OVERVIEW

Exceptional opportunity to acquire a high-yield mixed-use investment property in Galveston, Texas. This diversified asset includes seven residential units, additional detached residential structures, rear storage income, and four commercial storefront spaces with long-term tenancy history. The property produces $196,800 in projected annual gross income and offers a pro forma cap rate of 10.8%. Even under conservative underwriting with vacancy and repair reserves, the asset performs near a 9% cap rate, making it attractive to both cash-flow investors and leveraged buyers. Multiple income streams provide stability, while value-add potential exists through rent optimization and continued property improvements. Several commercial tenants have occupied the property since 2010, demonstrating strong location fundamentals and tenant retention. This is a rare opportunity to acquire a high-performing coastal Texas mixed-use asset with immediate income and long-term upside.

FOR SALE DETAILS

PRICE

$1,375,000 USD

PRICE/SF

$136 USD /SF

CAP RATE

10.8%

% 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.