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Gulf Gate (Houston, Texas, US - 77017)
$725,000 Priced to Sell!
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"Diamond in the Rough" 

Capital Trust Realty & Investment


 
Corey S. Ward
Email Corey S.
 
Cell: 281-250-1222
 
Details

Address: 7401 Gulf Freeway
Type: Commercial
Style:  2 Story
Bedrooms: n/a "NA"
Bathrooms: n/a "NA"
Basement: "NA"
Size: 11,130 sq. ft. "Per Harris County Appraisal District"
Lot Type: Rectangular
Lot Size:  30428sq. ft.  n/a "5/1000 Parking Ratio"
Year Built: 1978
Taxes: $19,404.94 (2011)
 
Description

This class "c" office building is located on the corner of the south east end of I45 and Loop 610. It is 11,130 SF per Harris county appraisal and is 2 stories in size. In addition the building is located on 3/4 of an acre with parking ratios in the range of 5/1000. It also has a large green space on the side of the building. The building is located in a zone "x" flood plan per FEMA maps. The exterior of the building has plenty of windows that allow natural light into the property and has a stucco fascia. The building does need work however it is a great opportunity for a company to acquire a great location at an excellent price. The building has super income potential for an investor but would make more sense for an in user. The owners are open to owner financing and lease-to-own.
General terms for seller financing are 15 years at 7.95% interest per annum with 5 - 10% down. Down payment is dependent on the amount of closing cost that is required to complete the transaction. It is important to note that in normal circumstances that a building cost $125.00 plus per sf to develop and this normal does not include the cost of the land. This building is currently in the price range of what it would cost to develop warehouse space. Even with repairs the unit will be a fraction of the cost of development.
 
Highlights

▪ High Traffic Location - Averaging 203,000 cars Per Day ▪ Great Access to I45
▪ Great Access to Loop 610 ▪ Large Green Space -- +/- 3/4 of an Acre
▪ Excellent Visibilty for I45 ▪ Seller financing Available
▪ Large elevated signage ▪ 5/1000 Parking Ratio
▪ Perfect Recovery Project ▪ Huge Upside Potential

Features
Interior Features
▪ Air Filter ▪ Carpeted Floors
Sewer/Water Systems
▪ Public
Exterior Finish
▪ Stucco
Lot Features
▪ Lawn ▪ Trees / Shrubs
Roof
▪ Asphalt ▪ Other
Extra Features
▪ Cable Available ▪ Lobby
Cooling
▪ Central Air
Buying Options
▪ Lease Option ▪ Rent to Own
Heating
▪ Central Electric
Brokered and Advertised by:
   Capital Trust Realty
 
P2#3101277

Information is deemed to be correct but not guaranteed.