2421 Milam StHouston, TX 77006

For Sale
$2,600,000

Prime location, high-potential investment.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional mixed-use property, located at 2421 Milam St in Houston, Texas, presents a compelling investment opportunity. The 7,861 square foot building, constructed in 1911, boasts a net rentable area of 8,500 square feet and sits on a 0.2-acre lot. Currently operating at 100% occupancy, the property is zoned for commercial use and features a three-story office building currently utilized by tax and CPA services. A significant advantage is the inclusion of a three-bedroom, two-bathroom residential unit located at the rear of the property. The asking price is $2,600,000, translating to $330.75 per square foot. This Class C building offers substantial value-add potential, with the possibility of redevelopment into a multifamily building or high-rise structure, given its prime downtown location near shopping centers and high-rises. The property's strong current income stream, combined with its redevelopment potential, makes it an attractive investment in the thriving Houston market. The property is offered with 100% ownership.

Highlights

  • Exceptional mixed-use property at 2421 Milam St, Houston, TX.
  • 7,861 SF building on a 0.2-acre lot, with 8,500 SF net rentable area.
  • 100% occupancy, zoned commercial, currently housing tax and CPA services.
  • Includes a three-bedroom, two-bathroom residential unit.
  • $2,600,000 asking price ($330.75/SF).
  • Class C building with redevelopment potential (multifamily or high-rise).

Property Details for 2421 Milam St

Property type
Other mixed-use properties, Mixed-use properties
Square Feet
7,861 SF
Class
C
Year Built
1911
Stories
1
Lot Size (sq. ft)
8,712 SF

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.746919514137
Longitude
-95.375413024867
2421 Milam St, Houston, Texas

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2421 Milam St
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