People often have the perception that investment-grade property is outrageously expensive - well in the tens of millions. As we often tell our clients, the definition of a good property will depend on what your goals are for that investment, whether income-generating, or adding value by redeveloping. Here’s a sample of what you could get with $2MM that we think are worth looking into further.
Income-Generating
12603 Telge Rd, Cypress - Starwood Farms - Fourplex - 4 Unit Apartment Building Offered at $686,400. Pro-forma shows NOI at $47K (CAP 6.9% - aggressive for multi-family)
8725 Fawn Trail, Conroe - Industrial/Office/Lab - Offered at $1.65MM, estimated rental CAP between 8-9%. * Offered by WoodsEdge Properties
509 W 7th Ave - Dickey’s Barbecue Pit (Opportunity Zone) - 2,757 SF Retail Building Offered at $750,000 at a 7.2% Cap Rate in Corsicana, TX. Absolute Net Lease with five years remaining.
Land and Value Add
2303 Coronado St - East Austin Value-add Opportunity - 5 Unit Apartment Building Offered at $750K. Needs TLC, and surrounded by new development.
16985 Old Houston Rd - 25.4 Acres for Sale in Conroe, TX. Zoned to Conroe ISD, and has 10 active RV hookups (income-producing). Across the street from Artavia planned development. Asking $1.1MM - inside Opportunity zone. * Offered by WoodsEdge Properties
12485 Hwy 105 W - 19.97 Acres of Commercial Land Offered at $1.6MM in Conroe, TX. Interesting topography but we believe it has plenty of opportunity.
Plenty of land along I-35 in Waco, TX that falls well below the threshold, with frontage on the highway.
2909 Guadalupe St, Austin TX - 1,872 SF Retail Building on a signalized hard-corner. Offered at $1.2MM. Currently an Italian restaurant. Interesting location within earshot of UT.