Listed by Coldwell Banker Realty Houston
$1,695,000
1603 Airline Drive
Details
Property Type Retail, Multifamily
Sub Type Restaurant, Storefront
Square Footage 5,438
Units 49
Cap Rate 13.27%
NOI $225,000
Occupancy 50%
Price per SqFt $312
Broker Co-Op True
Class B
Year Built 1910
Year Renovated 2017
Buildings 3
Stories 2
Lot Size (SqFt) 10,000
Zoning B1
Parking Spaces 10 spaces
Parking per 1,000 SqFt 1.84
Investment Type Redevelopment
Ground Lease No
Sale Condition For sale by owner
Multi-Building Commercial Investment Opportunity in Houston Heights
Marketing description
Heights Investment Opportunity! Rare opportunity in a prime Heights-area corridor near Downtown Houston. Situated on an approximately 10,000 SF lot, this unique property features three separate structures totaling approximately 5,400 SF, along with 10 on-site parking spaces. Offering exceptional flexibility and strong appeal for investors, developers, or buyers seeking a nontraditional asset with future potential, this property stands out for its location, layout, and opportunity. Convenient access to major thoroughfares, retail, dining, and employment centers. Appointment required for all showings. See property flyer and floor plans for more details.
Investment highlights
- Rare opportunity in a prime Heights-area / Near Northside corridor near Downtown Houston
- Approximately 10,000 SF lot
- Three separate structures totaling approximately 5,400 SF
- Currently occupied and operational
- Approximately 10 on-site parking spaces
- Flexible configuration with appeal for investors, owner-users, or redevelopment-minded buyers
- Accessible improvements including ADA-compliant ramp and accessible bathroom with shower
- Convenient access to major thoroughfares, retail, dining, and employment centers
- Unique asset with potential for continued use, repositioning, or future redevelopment
- Shown by appointment only
Listing Contacts
Listed by Coldwell Banker Realty Houston
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$225,000.00
$18,750.00/mo
Valuation Metrics
0
DSCR
13.27%
Cap Rate
13.27%
ROI
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