Spring Portfolio of properties for Sale - FM 1960/I-45 North
The owner of this complex will finance the sale to qualified buyer.
6% commission payable to Real Estate agent on down payment portion of the sale.
Business complex in Spring, TX totaling six co-joining lots on two parallel streets with three lots on Sunshine Lane and three lots on Sleepy Hollow Lane making a square of 52,825 sq ft+/- providing ability to drive through street to street, if desired. This property is surrounded by upscale apartment buildings and buyer may want to redesign the property for apartment or multifamily use. Located between FM 2920 on the North side; I-45 on the East side; Louetta Road on the South side; and Holzworth Road on the West side. Banks; Post Office; Restaurants; Religious Church's; hardware and grocery stores etc. are close by.
The 4000 sf office building is ready and available for lease. Should the Leese be interested in purchasing the Complex an incentive discount is available for qualified purchaser. See details below.
Fully leased, these properties recently produced a nominal $125,400.00 income annually.
20817 Sunshine Lane has three lots with a well maintained 4000 sq ft one story brick office building and concrete parking lot with more than twenty parking spaces. The interior of the building has ceramic tile floors in common areas and vinyl wood flooring in the high-ceiling offices. There are six separate executive offices and two large open space rooms; reception area; kitchen and two spacious rest rooms; an electrical room and a janitors closet. The property includes a commercial aerobic system sized for high occupancy and a 5000-gallon fire hydrant tank, both State and County approved and installed within last six years along with a new roof. The building is zoned for three HVAC units with the oldest system installed four years ago. Fire and security cameras are in place. This property has been approved for Federally funded child care and is well suited for marketing, educational and or professional use. Recently leased for past five years at $72,000 per year. THIS PROPERTY IS CURRENTLY AVAILABLE FOR LEASE.
The three lots on the parallel street, Sleepy Hollow Lane, has three rental buildings: A 1156sf frame building; a 1069sf garage office and, a 1840sf metal building with attached 1380sf commercial canopy (3220 total sf).
20810 Sleepy Hollow Lane is on two lots measuring 65.5 ft X 107.3 ft overall. Two rentals are on this property. Main building is 24.1 ft. X 48 ft. (1156 sf) framed pier and beam and a 24 ft X 48 ft framed garage/office listed as 20810A. The primary structure consists of three large rooms; bath and half; entry way and kitchen. A new roof and HVAC system was installed less than five years ago. There is a paved driveway to the primary structure and to the garage-office. Main bldg is currently leased at $21600.00 per year.
20810A Sleepy Hollow Lane is a stand-alone nominal 1069sf garage-office. The 525sf HVAC air conditioned office consists of three rooms with half-bath. A new roof on the garage and a HVAC system for the office was installed less than five years ago. The office is leased to a marketing company at $6000.00 per year.
20814 Sleepy Hollow Lane is one 53.67ft. X 164.40ft. lot with one insulated 40ft X 46ft X 12 ft. metal building with a 30ft. X 46ft. X 12ft. commercial canopy attached. Building has one 10ft. X 10ft. overhead door and one steel entrance door. The building is finished with epoxy painted floor in the shop and 3/4-inch insulated panels on the walls, ceiling and overhead door. (Canopy has concrete floor). There are two finished insulated offices with air conditioning and vinyl flooring. Remainder of the nominal 54 ft. X 164 ft. lot is gravel based for parking. The property is leased to an automotive repair company at $25,800 year.
TERMS OF SALE
SIX LOT BUSINESS COMPLEX
20817 Sunshine Lane & 20810-14 Sleepy Hollow Lane, Spring, TX 77340
OWNER FINANCED
The terms of sale are shown below:
The property is listed at $1,750,000.00 for all six lots and buildings therein.
Owner financing will be as follows:
20% down payment: $350,000.00
Balance $1,400,000 @7.50 % amortized as a 30 year loan with a ten year balloon, (120 payments), compounded annually.
Early pay provision may be negotiated.
Balance: to be refinanced by buyer.
Commission for the sale of this six lot business complex at 20817 Sunshine Lane and 20810-14 Sleepy Hollow Lane with the buildings therein,
will be 6% ($21,000) of the down payment. The sales price is not a commissionable number.
Incoming Lessee of 20817 Sunshine Lane and as a prospective buyer of the six lot complex may negotiate for a % of lease to be applied to the purchase price of the complex.
