UNDER CONTRACT - Absolute Auction Pearland TX Pearland, TX

Property Location MAP

1855 Cullen Boulevard
Pearland, TX 77581

Property #: TAA1900

Preview Times

February 13th at 12:00 pm

Contact Agent

Kelly Toney, CAI
Tranzon Asset Advisors

713-816-1123 ktoney@tranzon.com

UPDATE 2/20/19: Last night the Seller executed a Purchase & Sale Agreement to sell the property along with the required deposit. 

Therefore, the auction scheduled to open and close today is cancelled pending closing within thirty days. 
 
On behalf of Tranzon and the Seller, we thank you for taking the time and consideration to evaluate the property. We value our bidders as much as we do our clients. 
 
While we fully expect the transaction to close within the next 30 days, if it doesn't then the Property will be posted again for auction.

 

Absolute Auction 

35,020+/- SF Commercial Warehouse on 9.996+/- Acres

Seller is retiring! Absolute Auction 35,020 SF Commercial Warehouse facilities on 9.996 AC’s land. Great development opportunity in Pearland, TX. $8,850 Gross Monthly Income. Just 1.3 miles south of Beltway 8. Mixed development including schools, residential housing, churches and other commercial developments surround the subject property!

  DON’T MISS THIS OPPORTUNITY TO BUY UNDER MARKET VALUE!!!   

  • 35,020 SF Commercial Warehouse – 2 Buildings
  • Approx. 9.996 AC’s or 435,425.76 SF of land
  • 39,294 SF Total Concrete Slab/Paving
  • Building 1 – 20,020 SF
  • Building 2 – 15,000 SF
  • Building 1 has 13,750 SF leased to a batting cage company at a rate of $5,500/Month. Lease expires on 12/31/2019 with a 1 year option for $6,000/Month.. They have been a tenant since 2006. 6,270 SF in Building 1 is vacant. CORRECTION: Previously posted as tenant was month to month, but the lease agreement doesn’t expire until 12/31/2019.
  • Building 2 is subdivided into (6) 2,500 SF units.
    • 5,000 SF are leased to an exercise facility for $2,000/Month. Tenant is month to month lease as of 01/01/19. They have been a tenant since 2008.
    • 2,500 SF is leased to a small equipment repair shop for $1,350/Month. Tenant is month to month lease as of 01/01/19. They have been a tenant since 2014.
    • 7,500 SF is vacant and are 3 consecutive units.
  • Total Gross Rental Income $8,850/Month
  • Lease tenants pay their own electricity & alarms, are required to conform to occupancy permit requirements and maintain all elements excluding the building shell, exterior doors & windows, and parking areas.
  • Owner provides water & sewer via well & septic with a lease provision that tenants will pay when required to connect to city utilities. Owner also provides for 2 yards per 2,500 SF of rental space in garbage removal each week.
  • Current Zoning: Cullen Mixed Use (C-MU) – Part of the City of Pearland’s Cullen Mixed Use Development Zone
  • Flood Hazard: Zone “X”
  • Floor Covering: Concrete Slab
  • Ceiling Clear Height: Approx. 16’
  • Roof: Metal
  • Approx. 525’ Road Frontage on Cullen Blvd
  • Concrete parking
  • (2) Curb Cuts
  • Building 1 (15,270 SF) Constructed 1991
  • Building 1 (4,750 SF) Constructed 1994
  • Building 2 Constructed 1998
  • Metal exterior
  • Building 1 dimensions approx. 200’ x 100’
  • Building 2 dimensions approx. 150’ x 100’
  • Water Well & Septic with access to City of Pearland Utilities
  • Excellent visibility
  • Multiple use opportunities
  • Located 1.3 miles south of Beltway 8
  • Close proximity to mixed use developments all around including Dawson High School, City offices, residential and commercial
  Pearland TX road plans link  https://www.pearlandtx.gov/departments/economic-development/active-txdot-projec
The Zoning Code link for the city of Pearland is https://www.pearlandtx.gov/home/showdocument?id=24137
 

Please be sure to download the Property Information Package by clicking on the words under “Documents to Download.” By downloading this package you will alert Tranzon Asset Advisors to your interest in this property and you will receive emails with any updates on this auction. The package contains information needed to participate in bidding at auction.
 

Tranzon Asset Advisors, Kelly D. Toney, TX Auctioneer/Broker#0421809

The following summary of Terms & Conditions of Auction Sale is only intended to provide you a brief outline. For a complete copy, either download the Property Information Package, if available, or contact Kelly Toney, CAI

Kelly Toney, CAI: Tranzon Asset Advisors

713-816-1123 ktoney@tranzon.com

All bidders must agree to all of the Terms & Conditions of Auction Sale prior to bidding at any Tranzon auction. Listings may be withdrawn or modified without notice at anytime.

For general information on the auction process, please review the Frequently Asked Questions.

  • Buyers Premium: 10% Buyers Premium based on the high bid.
  • Closing: 30-Day closing, sold in As-Is, Where-Is condition, no contingencies.
  • Deposit Amount: 10% deposit of the total sale price in guaranteed funds.
  • Broker Co-op: 2% of the high bid will be paid to a properly registered broker at settlement.
  • Agency Disclosure: The member company acting as auctioneer/agent is an agent for the seller only.
  • Disclaimer: Information contained herein is believed to be correct to the best of auctioneer/agent's knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions. All square footage and other dimensions are approximate. This offering is subject to prior sale and may be withdrawn, modified or cancelled at any time without notice.

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