4820 Pean Street Galveston Warehouse Business
Warehouse/Storage Business Galveston
Marketing description
New Owners & New Management - Business Opportunity to purchase an existing warehouse/storage facility located on approximately 1.2 Acres and with over 18,130 + sq/ft of office and lease space. Plus 5 Units have lofts that add approximately 2000 +/- sq/ft. It has and has had 100% occupancy with a waiting list of future tenants. There are 4 separate buildings and 48 units total with currently 25 tenants which have multiple shared units. This is unique layout which allows a tenant to expand into multiple units based on their needs. There is an on-site office which is approximately 800 sq/ft. There is utility connection for water, sewer & electricity. Great access off Hwy 3005. Contact the listing agent for details. New Survey & Elevation Certificate. Buyers & agents verify property sizes and dimensions, use a local title company. Please do not contact or interfere with existing tenants. .
Investment highlights
New owners are working on raising the rents to reflect a better CAP Rate. This particular property is grandfathered in with the City of Galveston and is currently at +10 elevation with the office being 13'. You cannot build a property like this at this elevation with current regulations. Most of the Tenants are long term being 10+ years and compliment most of there ongoing business.
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