110 N Broadway St, #A, B, C, La Porte- Multi-Tenant Building
Office | 6.36% CAP
Marketing description
Free-standing Office/Retail Complex with lots of on-site parking & in downtown La Porte, TX, at 110 N Broadway. General Commercial (GC) Zoning & currently used as an Office/Retail Complex. This building is well-suited for a wide variety of professional uses including Office, Retail, and/or Other. Close to Hwy 146/225, Port of Houston, Houston Shipping Channel, Bay Forest Golf Course, and in the heart of downtown La Porte with many food options within walking distance.
RENT ROLL:
Unit #A (1,000SF): Comm Lease: REMAX Real Estate; Term: 01/01/2025 thru 12/31/2026: ($1,000/MO Base Rent + $500/MO NNN) = $1,550/MO
Unit #B (1,000SF): Comm Lease: Shipyard Logistics Company; Term: 04/25-04/26 ($1,000/MO Base Rent + $500/MO NNN) = $1,500/MO
Unit #C (3,040SF): Comm Lease: Drug Testing related Contractor; Term: 01/01/2025 thru 12/31/2026 ($2,500/MO Gross Lease) = $2,750/MO
Total Projected Gross Income: $5,500/month x 12-months = $69,600/YR
LANDLORD EXPENSES:
Tax Rate: 2.4475% ($541,390 Assessed Value 2025, $13,250/YR)
TWIA Texas Windstorm Insurance: $5,971.00/YR
WWLG Building Insurance: $4,716/YR
Maintenance: $1,200.00/YR (Landscaping)
Miscellaneous: As Needed
TOTAL EXPENSES: $25,137
TENANT(S) EXPENSES:
Utilities Historic Bills (Per Seller) & Tenants to pay all utility bills moving forward as of 01/2025:
Electricity approximately $200.00/month.
There are 2 A/C/heat units and it depends on whether they use both.
Water/sewer $80.00/month
Internet – depends on provider, but what we currently have with AT&T is $105.00/month
$69,600 GOI - $25,137 EXPENSES = $44,463 NOI/$699,000 = 6.4% CAP Rate
Investment highlights
- Free-standing Office/Retail Complex located in the heart of La Porte, TX, well-suited for a wide variety of professional uses.
- Suite A: 2-Offices, Conference Room, Break Room, & Restroom.
- Suite B: 4-Offices, Restroom, & Conference Room.
- Suite C: 3-Offices, Conference Room, Storage Room, Printer/Copier area, Kitchen/Break Room
- 34 on-site parking spaces in the front, side, and rear of the property.
- Close to Highway 146 & 225, Port of Houston- Barbours Cut Terminal, Houston Shipping Channel, Bay Forest Golf Course, & heart of downtown La Porte.
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