1905 Price StParis, TX 75460

This exceptional 11,317 square foot commercial property in Paris, Texas, presents a compelling investment opportunity. Located on a 1.068-acre lot, the property boasts recent (2023) renovations including a new fire sprinkler system, modernized doors and windows, a state-of-the-art security system, upgraded attic insulation, a new electrical panel, sheetrock improvements, new post office boxes, and a privacy fence. Mechanical systems have also been upgraded with a refreshed HVAC system, four new water heaters, and updated plumbing. Interior enhancements include new flooring, 12 new vanities, 12 toilets, and 12 shower stalls. The property is ADA compliant, featuring a designated parking pad and ramp. Currently zoned multifamily, with a supplemental use permit for daycare operations, this versatile space offers immediate income potential. The property features 15 beds and is 100% occupied, generating a pro-forma NOI of $115,966 and a pro-forma cap rate of 7.73%. The asking price is $1,500,000, translating to $132.54 per square foot. Built in 1960, this single-story building offers a prime commercial location with convenient access to major thoroughfares and local amenities. The current lease has a remaining term of 0.3 years, expiring February 28, 2025. This turnkey property is ideal for various uses, including daycare, assisted living, student housing, or multifamily. Don't miss this chance to acquire a meticulously maintained, income-producing asset in a thriving market.