Home > Blogs > Mike Wong > Mike Wong Real Estate Blog

Foreclosed Commercial Retail Center Offered For Sale $1.9M

By Mike Wong

Commercial Real Estate Agent with Keller Williams Realty Southwest 0576394

March 21, 2011 01:15 PM

commercial foreclosure houston retail center $1.9M

Retail strip center recently built in 2006 now offered for sale in Southwest Houston. Total building is 26,760 square feet on approximately 1.6 acres. Total site is 70,449 square feet. Now available for $1.9M.

Located near a Houston Police Department Command Station and the West Houston Medical Center this is perfect for retail or medical tenants. Busy street generates approximate traffic counts of 60,000 cars per day. Great frontage and exposure. Perfect opportunity for an aggressive owner to convert into an income generating property with the right management.

Contact Mike Wong for more information and details on how to acquire this property. 713-935-5800

Re-Blog

Comments(2)

Comment

Show All Comments

Sort:

Kay Van Kampen

RE/MAX Broker, RE/MAX - Springfield, MO

Realtor®, Springfield Mo Real Estate

Hi Mike, that seems like a really good price for that retail center. How many spaces are currently rented and how many empty one?

Mar 21, 2011 03:14 PM

Mike Wong

Keller Williams Realty Southwest - Sugar Land, TX

Realtor: Commercial, Residential, Leasing, Invest

Hi Kay. The property is priced very well, much lower than replacement cost of the building. The center had 2 tenants. The developer had too many people advising on the project, and incorporated building a neighborhood behind the site. There were too many people telling the developer how to spend more money and not focusing on developing the money they already spent. In the end the developer just walked away from this project.

I think with an agressive owner and new management this building will eventually do well.

Mar 22, 2011 09:46 AM

Foreclosed Commercial Retail Center Offered For Sale $1.9M

Comments(2)

Mike Wong

Service Areas

Real Estate Resources

Recent Posts

Additional Information