715 Franklin St
Houston, TX 77002
Magnolia Brewery · Retail Property For Sale

The subject property is located at the north corner of Milam Street and Franklin Street with a physical address of 120 Milam Street. The subject is legally described as Lot 1 and Tracts 2A & 12A, Block 17, SSBB, Harris County, Texas. The subject property consists of an 11,573 square foot, two-story, multi-tenant building, with an additional 4,482 square feet of basement space. The original building, constructed in 1886, consists of approximately 8,700 square feet (plus the basement), with another 2,800 square feet added in 1968. An area of approximately 6,736 square feet was owner-occupied and functioned as the Historic Magnolia Ballroom for special events. The remaining space was divided into two tenant spaces that were being utilized as the Brewery Tap and a Jazz Club. The space has now been opened up and is able to be built out in a multitude of design options. The basement has been vacant for some time and the square footage is not considered in the pricing. The subject property is a contributing building as part of the Main Street Market Square Historic District and much of the original design and components have been preserved and/or restored. The building features include: steel and wood framing; flat/built-up and metal roofing; and a concrete foundation. The interior features include: wood flooring, terrazzo, vintage porcelain tile, stained concrete, exposed concrete, and carpet flooring; a variety of painted walls and open framed alfresco ceilings; plaster and wood walls; diverse lighting fixtures; ornate trim and moldings; stained glass windows; and central heating and cooling. Additionally, there is a second level deck/storage area that consists of approximately 2,000 square feet. The building is situated on 8,020 square foot parcel of land. On site parking is limited to approximately 10 curb side spaces, and the present owner has had an ongoing arrangement with the neighboring property owner for parking space on an as needed basis. There is also a neighboring parking garage for public use.