General Overview:

Downtown San Angelo investment opportunity with a brand new 3-year gross lease agreement in place. This property is located just east of the intersection of Twohig Avenue and South Oakes Street. It is a 3,000 SF freestanding retail building on 21,000 SF of land. The current business is a daycare facility. The owner has a new survey. Offering price is at a 8.71% capitalization rate.

Location:

Located in the heart of Downtown San Angelo, just east of the intersection of Twohig Avenue and Oakes Street.

113 E Twohig Avenue, San Angelo, TX 76903

County: Tom Green | MLS area: K | Subdivision: San Angelo

Highlights:

• MLS #130436 | Active commercial sale | Retail
• 3,000 SF building area (source: owner)
• Built in 1950; one story; not new construction
• 0.482 acres; 20,995.92 SF lot; lot dimensions listed as 21,000 SF
• Freestanding brick building; no dock; 8–10 foot ceilings
• Professional service and retail business types
• Central electric air conditioning; central electric forced-air heating
• Carpet and tile flooring; membrane roof
• Parking lot; city street frontage; downtown location
• Security system
• Electricity, sewer, and water connected
• Traffic count: under 2,500 vehicles per day
• Tenant occupied
• Parcel: R000006552; legal description also references R000006551
• Legal description: 2ND REPLAT IN BLOCK 3, SAN ANGELO MAIN TOWN BLOCK 1-10, A-D (VILLAGE OF ST. ANGELA)
• Sale includes land, as listed in MLS
• Available documents listed in MLS: aerial photos, financial details and statement, legal description, recorded plat, and lead-based paint disclosure

Financial Info:

• Asking price: $480,000 ($160/SF)
• Capitalization rate: 8.71%, as stated in the MLS public remarks
• Three-year gross lease, as described in the MLS public remarks
• Gross income: $54,000
• Insurance expense: $4,500
• Total actual rent: $4,500, as reported in MLS
• Tenant pays all utilities; MLS lists owner-paid expenses as none
• Terms: cash or other
• Possession: close of escrow, subject to tenant rights

Comments:

View the MLS virtual tour

Showings by appointment. Contact Sterling Davidson Fryar at 325-276-0757 or sterling@sterlingpropertygroup.net.

Disclaimer

The information contained herein is compiled from sources believed to be accurate, but no warranties or representation as to its accuracy are made.