Coldwell Banker Commercial Southwest
www.coldwellbusiness.com
Property ID: 64660
Property Type: Multi-Use
Property Address:
16869 Texas Highway 36 South
Somerville, TX 77879
County: Burleson
Price: $56,512
Property Size: 12,632 Sq. Ft. |
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Property Description
PRICE REDUCED to $56,512!!
The Investment Property Division of Coldwell Banker Commercial Southwest is proud to present the LAKE SOMERVILLE BUSINESS CENTER on Texas Highway 36 in the Somerville city limits.
With a main building (1618 SF) three porches (768 SF) two outbuildings (210 SF and 160 SF). It offers a significant amount of SF and extraordinary flexibility to simultaneously accommodate one or more businesses (depending on space and other requirements).
On a 12,449 SF (0.2858 acre) lot at $56,512 WITH 100% FINANCING. 5% BUYERS AGENT COMMISSION OR 2% CASH BACK TO BUYER AT CLOSE.
With a 14.65% reduction from the previous listing price of $70,000, highway frontage, city utilities and low price, this provides a compelling alternative to rent for an entrepreneur or a low cost portfolio addition for a real estate investor.
HIGHLIGHTS
(1) Main building with 1,248 SF, porches adding an additional 768 SF. Two additional buildings with approximately 370 SF.
(2) Less than 1 mile from Lake Somerville on Texas Highway 36 in the Somerville city limits.
(3) 100% financing available.
(4) 5% BUYER AGENT COMMISSION OR 2% CASH BACK TO BUYER AT CLOSE.
(5) April 2008 traffic volume estimated at 11,026 projected to exceed 15,000 in 2013.
(6) 20 miles from regional shopping in Brenham and 35 miles from College Station with all the conveniences of a major University community. 75 minutes from Houston and about 100 miles from Austin.
(7) Top 5 local retail opportunities average $1.0 million at 1-mile, $1.9 million at 2-miles and $2.3 million at 3-miles.
(8) Burleson County economy is a very high performer compared to adjacent Counties including Brazos County (home of Texas A&M).
(9) Burleson County annual percent of population growth exceeds all but one contiguous County and the .01% difference between Burleson and the #1 County may not be statistically significant.
Call 979.421.9996 to contact any member of the Coldwell Banker Commercial Southwest Investment Property Team: Diane Alexander, Tootie Lyons, George Alexander or Chris DeAlmeida.
You can also contact the team by email at LakeSomervilleBusinessCenterTeam@ColdwellBusiness.com.
5% BUYER AGENT COMMISSION OR 2% CASH BACK TO BUYER
The Broker Company of a Buyer’s Agent is eligible for a 5% Broker commission upon closing of the Lake Somerville Business Center sale.
If the buyer is represented by a member of the Coldwell Banker Commercial Southwest listing team, the Buyer will receive 2% cash back at close.
FINANCING
Up to 100% financing is available. Financing can include land, new construction, improvements, renovations and capital equipment.
Considerations:
A decision on subordinated owner financing is at the complete discretion of the owner. Factors that may be considered include qualifications, terms, equity structure, site and/or development plan and others.
ADDITIONAL INTERNET LINKS
(1) Dedicated website:
http://property.loopnet.com/15683432.
(2) Link to listing website with all graphics and pictures utilized in PDF or JPG files for easy downloading:
http://listing.loopnet.com/15683432.
(3) Link to full professional listing with complete analysis:
http://www.landsofamerica.com/america/index.cfm?Detail=&I NV_ID=14077.
PROPERTY
The Somerville Business Center was previously a restaurant. The restaurant equipment has been removed to allow you to easily reconfigure and finish the building to your specifications.
Main Building:
The Main Building is a frame structure with a metal roof built in 1985. It offers 1,248 SF of AC space allocated between three primary areas.
The Main Building has an attractive covered front porch spanning the entire building front with approximately 144 SF. Also an enclosed patio/porch is attached to the southern side of the Main Building with an estimated 576 SF. A covered and screened back porch/utility area with approximately 48 SF completes the Main Building.
A full bath was added in the late 1990’s.
Office:
In 2004, the owners built a 15’ by 14’, free standing office/house. It provided an office for the former business.
Metal Storage Building:
An estimated 10’ by 16’ storage building is included in the sale. It appears to be in very good condition.
Miscellaneous Equipment and Supplies:
All equipment and supplies on the property the day of close conveys with the property.
As Is:
The Somerville Business Center is offered “as is”.
LOCATION
Less than 1 mile from Lake Somerville on Texas Highway 36 within the city limits. Approximately 20 miles from regional shopping in Brenham including Wal-Mart, Lowe’s, Home Depot, Medical Center, and many other shopping and dining venues.
About 35 miles from College Station with all the conveniences of a major University community.
75 minutes from Houston and about 100 miles from Austin. Close to many weekend, tourist and regional destinations.
TRAFFIC VOLUME AND PROJECTIONS
Alexander Tiffany, LLC ("AT") performed analysis to estimate 2008 and future average daily two-way traffic volume. Data for 1997 and 2002 was available under license by Google Earth Pro from Geographic Data Technology, Inc. Data for 2005 was available under license from the Texas Department of Transportation.
AT utilized these three data points (1997, 2002 and 2005) as a base line in an AT proprietary trending model to project future traffic.
AT estimates April 2008 average daily two-way traffic volume at 11,026 and projects it will exceed 15,000 in 2013.
BURLESON COUNTY ECONOMY
The Burleson County economy is very robust with an estimated $425+ million total economy in 2008 growing at 5.7% per year.
Regarding adjacent Counties, Burleson County’s growth rate is second only to Lee County at 5.71%. Note that from a statistical basis, the .01% difference may not be material.
TAXES
Estimated 2008 taxes of $1,184.13 are based on 2007 taxes of $1,096.42 and increased by 8%. Consult your tax advisor regarding your expected taxes.
EMAIL TO YOU WHEN WE LIST NEW PROPERTIES THAT MEET YOUR SPECIFICATIONS
We offer immediate email contact when we list properties in categories you have expressed an interest.
Please send an email to PriorityListings@ColdwellBusiness.com with your specifications.
DISCLOSURES & COPYRIGHTS
CBC is a wholly owned franchise of Alexander Tiffany Southwest, LLC. Analysis is preliminary, based on proprietary systems and models, is time sensitive and based on assumptions- stated and unstated. Graphics are only renderings. Measurements are only estimates. No warranties are expressed or implied. All content is protected by copyright laws, is only for prospects or legal representatives, and should not replace buyers own due diligence and analysis. Any other use is prohibited. |
Financial Summary
No financial information provided |
Attached Documents
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Contact Information
Company: Coldwell Banker Commercial Southwest
Name: Administrator
Email: Click Here to Email
Phone: 979.421.9996
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