Boston Avenue Market

Marcus & Millichap is pleased to exclusively list for sale Boston Avenue Market, located at 1112 Boston Avenue, Nederland, Texas 77627. The 9,743 square foot retail property is offered for a purchase price of $849,000, which is eighty-seven dollars per square foot to the building.

The property is located at the hard corner, signalized intersection of Boston Avenue and North Twin City Highway, which boasts traffic counts of greater than 14,000 vehicles per day. Boston Avenue is the primary throughfare in the downtown of Nederland and is home to a wide selection of boutique shops, which is a popular destination for residents in the area to shop and spend time.

At the property’s current Net Operating Income, an investor will yield an 8.35 percent CAP Rate, which accounts for the property’s current 84 percent occupancy. Should an investor lease the 1,560 square foot vacant office warehouse on the premises, the CAP Rate will increase to 9.76 percent.

Boston Avenue Market provides an owner with a fairly hands-off asset: it is well-maintained, including a recently installed TPO roof, and tenants are responsible to pay for everything except taxes, property insurance, and trash pickup.