321 Alabama StHouston, TX 77006

For Sale
$2,300,000

Prime Houston location, 6 units, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional mixed-use property, located at 321 W Alabama St in Houston, Texas, presents a compelling investment opportunity. The 6,720 square foot building, constructed in 1955, sits on a 14,375 square foot lot and boasts a desirable location in the heart of Historic First Montrose Commons, bordering Midtown. The two-story, Class C building features six units: two commercial retail spaces (each with two bathrooms and washer/dryer connections), and four updated residential studios, each with individual electric metering. Additionally, one unit serves as a workshop and owner storage. The property offers 21 parking spaces, a significant advantage in this vibrant area. With 50 feet of frontage on West Alabama Street, the property enjoys excellent visibility and accessibility. The building is a non-contributing structure within the historic district, allowing for potential future development or modifications. Currently operating under a NNN lease with four tenants, the property is offered at $2,300,000, representing a price per square foot of $342.26. This owner/user investment presents a rare blend of historic charm, modern functionality, and strong rental income potential in one of Houston's most coveted neighborhoods. The property's versatility, ample parking, and prime location make it an ideal investment for both seasoned and emerging investors.

Highlights

  • $2,300,000 asking price for a mixed-use property in Houston, TX.
  • 6,720 square feet on a 14,375 square foot lot, with 21 parking spaces.
  • Six units total: four updated residential studios, two retail spaces, and one workshop/storage unit.
  • Located on West Alabama Street in Historic First Montrose Commons, offering high visibility and accessibility.
  • NNN lease type with four tenants.

Property Details for 321 Alabama St

Property type
Other retail properties, Multifamily properties
Square Feet
6,720 SF
Class
C
Year Built
1955
Stories
2
Units
6

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.7386777
Longitude
-95.3843363
321 Alabama St, Houston, Texas

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321 Alabama St
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