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$2,039,568

NAL Estimated Property Value

2317-2319 Strand Street, Galveston, TX, 77550

$2,210,682 ARVInfo
Off MarketInfo
CommercialInfo
Beds4 Beds
Baths2 Bath
Baths17,641 Sq Ft
price_per_sqft$113.32 / sqft
Year BuiltBuilt in 1870

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms 2Bathrooms 2
Heating CentralHeating Central
CoolingCooling
FlooringTile, Wood

Exterior

Lot Size5,162 sqft

Building Information

Year Built1970
Stories4
Roof Type172

Land Information

APN3505-0623-0003-000
Lot Number3
SubdivisionGalveston Townsite
Land UseCommercial
Legal DescriptionABST 628 M B MENARD SUR LOT 3 BLK 623 GALVESTON
Census Tract724500
Assessed Land Value$234,780
Assessed Improvement Value$2,731,120
Assessment Year2025

About this property

1870 Merchants Mutual Insurance Building with mansard roof boasts original hardwood floors, exposed brick walls, soaring ceilings, and enormous windows to take in all the Strand has to offer! This 4 story building has 2 longtime tenants on the first floor. Each has their own bathroom and access to loading dock off the alley. The second floor has two finished apartments. The front expansive unit 2165 sq ft. faces the Strand and has 4 bedrooms + office, 2.5 baths, and large living/dining area. It was recently leased as an office for a bath company. The back unit currently is rented and is a one bedroom one bath . The third and fourth floors are wide open and the possibilites are endless. The Third floor does however have a bathroom. The fourth floor has a great view of Cruise ships in the Harbor. All four floors have access to the freight elevator and the roof can be utilized as an entertaining space. Previous two owners have been very involved in the rehab of the building.

Investor Tools

Property Icon
$2,039,568
Estimated Property Value
$1,147,169Estimated Mortgage Balance
$892,399Estimated Equity
43% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$2,210,681
Rent-to-Value Ratio: 0.72%
Rent Estimate
$12,237 /month
Positive
Cash Flow Estimate:
$4,079 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$3,301/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$29,415
$2,039,568
2025
$234,780
$2,731,120
$2,965,900
No

Tax History

Year
Tax Paid
Assessed Value
2024
$29,415
$2,039,568

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Capital Bank
Commercial
$1,240,000
No
First
May 26, 2022
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$1,147,169
$892,399
43%
56%
$7,435/mo

City: Galveston

2317-2319 Strand Street | Property Details | No Agent List