This is a rare opportunity to acquire a large parcel of land for redevelopment in the East End (EADO) of Houston, TX. It is located just 2.5 miles from the recently completed Phase I of the East River Project by Midway Properties. New development is all around. City infrastructure is being upgraded on the main street. The main lot of 27,000 sq. feet on the hard corner, 4615 Sherman St., has 3 tenants currently paying rent of about $3500 per month. 100% AC. Ideal for developer to collect rent while permitting. Leases all up in about 12 months. Leases all under market. The building, built in 1996, is a likely candidate for removal. It is a 4200 sq. ft building on 27,000 sq. ft hard corner lot. This can be sold separately from 110 Lockwood. 110 Lockwood is continguous to this property (common fence). It is a 6500 sq. ft lot with a 1,980 sq. ft 2 bed/ 1 1/2 bath residence with workshop. Garage is pass thru about 2,000 sq. feet, large enough for 6 cars or so. There is a separate driveway. Hard concrete pads in the back yard suitable for parking are acessible through the garage or driveway. Renovated in 2021 and currently leased for short term. The Lockwood lot can be purchased with the main property for an all in price of $1,835,050. This is below market where current deals are getting done. See the listing also at har.com/4615Sherman
