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Listing Details

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School Ratings & Info

Description

FULLY OCCUPIED corner commercial location this property is a 13,211-square foot mixed-use retail and office. The improvements were originally constructed in 1950, expanded in 2009, renovated in 2011, and are situated on a 2.12-acre site. This location is anchored by a Bar & Grill that consists of a 6,971 square-foot main building, which is 100% occupied by Zocalo Bar & Grill, and a 6,240 square-foot office building which is 100% occupied by three tenants. As per the seller's recent appraisal, effective gross income is $215,006 with an NOI of $144,812 giving you a solid cap rate of 9%. The seller has authorized the partial release of recent appraisal from March 2020 to show an appraisal value of $1,650,000. If you are interested in a private tour call me today.

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© 2021 Greater McAllen Association of Realtors Multiple Listing Service.
IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or The Maggie Harris Team | Keller Williams Realty. Data last updated: 2021-09-21T00:16:30.1.
www.maggieharristeam.com/homes/107001736
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2353 Old Port Isabel Brownsville, TX 78521

  • Price: $1,150,000
  • Status: Active
  • Updated: 240 min ago
  • MLS #: 335833
0
Beds
0
Baths
0
½ Baths
2.12
Acres
13,211
SQFT
$87
$/SQFT
1950
Built
Neighborhood:
Chelsea Estates
County:
Cameron
Area:
Brownsville
Property Description
FULLY OCCUPIED corner commercial location this property is a 13,211-square foot mixed-use retail and office. The improvements were originally constructed in 1950, expanded in 2009, renovated in 2011, and are situated on a 2.12-acre site. This location is anchored by a Bar & Grill that consists of a 6,971 square-foot main building, which is 100% occupied by Zocalo Bar & Grill, and a 6,240 square-foot office building which is 100% occupied by three tenants. As per the seller's recent appraisal, effective gross income is $215,006 with an NOI of $144,812 giving you a solid cap rate of 9%. The seller has authorized the partial release of recent appraisal from March 2020 to show an appraisal value of $1,650,000. If you are interested in a private tour call me today.
Exterior Features

Carport Spaces 84 Carport YN Yes Construction Materials Stucco Covered Spaces 84 Garage YN No Grounds Decorative LightingIrrigationLandscapedMature TreesSidewalksSprinkler System Parking Features Paved Parking Total 84 Road Frontage Type City StreetFm Road Roof Flat

Interior Features

Appliances Electric Water HeaterWater Heater (Electric Heat Pump) Cooling Central AirZonedElectric Cooling YN Yes Flooring Tile

Property Features

Accessibility Features Ada Accessible Association YN No Current Use Bar/TavernBusiness ServiceOfficeProfessional ServiceRestaurantRetail Green Energy Efficient Thermostat Other Equipment Pole SignRoof Sign Presently Leased YN Yes Property Sub Type Commercial Security Features Security Lights Tax Annual Amount 23756 Tax Year 2019 Water Source Separate Water Meters Zoning C

Listing by Rogelio (Roy) Vela of Equity Assets Realty.
© 2021 Greater McAllen Association of Realtors Multiple Listing Service.
IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or The Maggie Harris Team | Keller Williams Realty. Data last updated: 2021-09-21T00:16:30.1.
 
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The Maggie Harris Team | Keller Williams Realty
833 N Ware Rd
McAllen TX, 12345