Absolute Auction Pearland TX Dev. Opportunity

>Real Estate Auction in

20 Wednesday
February 20th, 2019 3:00 PM

Absolute Auction Pearland TX Dev. Opportunity

>Real Estate Auction in

Wednesday at - 20th February , 2019

Notes

Buyers premium: 10% Buyers Premium based on the high bid.
Closing: 30-Day closing, sold in As-Is, Where-Is condition, no contingencies.
Deposit Amount: 10% deposit of the total sale price in guaranteed funds.
Broker Coop: 2% of the high bid will be paid to a properly registered broker at settlement.

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Location has been calculated by address and may not be 100% accurate.




Auction Items For Sale

Absolute Auction  35,020+/- SF Commercial Warehouse on 9.996+/- Acres

Seller is retiring! Absolute Auction 35,020 SF Commercial Warehouse facilities on 9.996 AC’s land. Great development opportunity in Pearland, TX. $8,850 Gross Monthly Income. Just 1.3 miles south of Beltway 8. Mixed development including schools, residential housing, churches and other commercial developments surround the subject property!

 

DON’T MISS THIS OPPORTUNITY TO BUY UNDER MARKET VALUE!!! 

 

  • 35,020 SF Commercial Warehouse – 2 Buildings
  • Approx. 9.996 AC’s or 435,425.76 SF of land
  • 39,294 SF Total Concrete Slab/Paving
  • Building 1 – 20,020 SF
  • Building 2 – 15,000 SF
  • Building 1 has 13,750 SF leased to a batting cage company at a rate of $5,500/Month. Lease expires on 12/31/2019 with a 1 year option for $6,000/Month.. They have been a tenant since 2006. 6,270 SF in Building 1 is vacant. CORRECTION: Previously posted as tenant was month to month, but the lease agreement doesn’t expire until 12/31/2019.
  • Building 2 is subdivided into (6) 2,500 SF units.
    • 5,000 SF are leased to an exercise facility for $2,000/Month. Tenant is month to month lease as of 01/01/19. They have been a tenant since 2008.
    • 2,500 SF is leased to a small equipment repair shop for $1,350/Month. Tenant is month to month lease as of 01/01/19. They have been a tenant since 2014.
    • 7,500 SF is vacant and are 3 consecutive units.
  • Total Gross Rental Income $8,850/Month
  • Lease tenants pay their own electricity & alarms, are required to conform to occupancy permit requirements and maintain all elements excluding the building shell, exterior doors & windows, and parking areas.
  • Owner provides water & sewer via well & septic with a lease provision that tenants will pay when required to connect to city utilities. Owner also provides for 2 yards per 2,500 SF of rental space in garbage removal each week.
  • Current Zoning: Cullen Mixed Use (C-MU) – Part of the City of Pearland’s Cullen Mixed Use Development Zone
  • Flood Hazard: Zone “X”
  • Floor Covering: Concrete Slab
  • Ceiling Clear Height: Approx. 16’
  • Roof: Metal
  • Approx. 525’ Road Frontage on Cullen Blvd
  • Concrete parking
  • (2) Curb Cuts
  • Building 1 (15,270 SF) Constructed 1991
  • Building 1 (4,750 SF) Constructed 1994
  • Building 2 Constructed 1998
  • Metal exterior
  • Building 1 dimensions approx. 200’ x 100’
  • Building 2 dimensions approx. 150’ x 100’
  • Water Well & Septic with access to City of Pearland Utilities
  • Excellent visibility
  • Multiple use opportunities
  • Located 1.3 miles south of Beltway 8
  • Close proximity to mixed use developments all around including Dawson High School, City offices, residential and commercial

 

Pearland TX road plans link  https://www.pearlandtx.gov/departments/economic-development/active-txdot-projec

The Zoning Code link for the city of Pearland is https://www.pearlandtx.gov/home/showdocument?id=24137
 


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