Rosenberg Building | 2309 Strand St
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Rosenberg Building 2309 Strand St
13,932 SF 100% Leased Office Building Galveston, TX 77550 £1,917,003 (£138/SF) 7.44% Net Initial Yield
Investment Highlights
- Heavy pedestrian traffic
- Mixed tenancy (Retail/Residential)
- Historic facade and design
Executive Summary
The Rosenberg Building is a Historic mixed tenancy investment opportunity centrally located within the Galveston Island Historic Strand District - Galveston's primary shipping and retail zone. The property is fully leased with first floor retailers and upper floor residences. The residential units, building facade, and common areas have been fully renovated recently. The immediate location benefits from the Cruise terminal's 2.2 M annual visitors and Galveston's growing annual 7 M unique visitors enticed by nationally relevant annual events and festivals and a rising number of unique eateries and over 61 bars. Galveston generates over $833 M in total annual spending and hosts over 6,000 hotel rooms with a critical density of rooms in the Strand area within walking distance of The Rosenberg Building.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Office/Residential
Building Size
13,932 SF
Building Class
B
Year Built/Renovated
1871/2023
Price
£1,917,003
Price Per SF
£138
Net Initial Yield
7.44%
NOI
£142,639
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
4,644 SF
Building FAR
2.67
Lot Size
0.12 AC
Zoning
GC - Broad spectrum use zoning for Galveston central retail and shopping Historic Strand District.
Amenities
- Atrium
- Kitchen
- High Ceilings
- Natural Light
- Wooden Floors
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Walk Score ®
Very Walkable (80)
Bike Score ®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 3505-0623-0005-000 | Improvements Assessment | £562,613 |
| Land Assessment | £24,225 | Total Assessment | £586,838 |
PROPERTY TAXES
Parcel Number
3505-0623-0005-000
Land Assessment
£24,225
Improvements Assessment
£562,613
Total Assessment
£586,838
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Rosenberg Building | 2309 Strand St
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