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Wharton Vacant Industrial 2918 N Richmond Rd 6,908 SF 100% Leased Office Building Wharton, TX 77488 $700,000 ($101.33/SF)
Investment Highlights
- Priced well below replacement cost at $101 psf
- Lack of industrial & office supply nearby - 300k sf within 3 miles at 98.1% Occupancy
- Two buildings (4,508 sf industrial / office and 2,400 sf warehouse) - Warehouse building has 240v power
- Large 2.63 Acre lot which equates to $6.11 Psf land cost
- Excellent visibility and ingress - 3 points of access and Ample parking & storage - 10,900 sf of concrete driveway
- Owner spent approximately $150,000 in 2020 building the warehouse building and renovating the main building
Executive Summary
Northmarq is pleased to offer for sale to qualified investors the opportunity to acquire the fee simple interest in the property located at 2918 N. Richmond Road, Wharton, Texas (the "Property"). The Property is currently unoccupied and priced well below replacement cost at $101 PSF.
The Property sits on 2.63 Acres of land, which comes out to just $6.11 PSF on the land cost. That much land allows an owner-user or investor many options on what to do with the site. There is a lack of industrial and office supply in the immediate area. Within 3 miles of this site, there is just under 300,000 SF of industrial and office with 98.1% occupancy.
The Property sits on 2.63 Acres of land, which comes out to just $6.11 PSF on the land cost. That much land allows an owner-user or investor many options on what to do with the site. There is a lack of industrial and office supply in the immediate area. Within 3 miles of this site, there is just under 300,000 SF of industrial and office with 98.1% occupancy.
Property Facts
Sale Type
Investment
Property Type
Building Size
6,908 SF
Building Class
B
Year Built/Renovated
1968/2020
Price
$700,000
Price Per SF
$101.33
Percent Leased
100%
Building Height
1 Story
Typical Floor Size
6,908 SF
Building FAR
0.06
Lot Size
2.63 AC
Opportunity Zone
Yes
Parking
32 Spaces (4.63 Spaces per 1,000 SF Leased)
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Property Taxes
| Parcel Number | R051784 | Improvements Assessment | $451,768 |
| Land Assessment | $134,896 | Total Assessment | $586,664 |
Property Taxes
Parcel Number
R051784
Land Assessment
$134,896
Improvements Assessment
$451,768
Total Assessment
$586,664
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Wharton Vacant Industrial | 2918 N Richmond Rd
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