609 Elm St
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609 Elm St
9,416 SF 100% Leased Retail Building Graham, TX 76450 £1,376,640 (£146/SF) 6.15% Net Initial Yield
Investment Highlights
- Historic Downtown Graham
- Upstairs plans available to convert the old hotel into apartments
- Downstairs Restaurant Has Significant Updates
Executive Summary
Welcome to a rare investment opportunity in downtown Graham's historic district! This iconic property, steeped in local history, offers a unique blend of charm, functionality, and potential. The bottom level has been meticulously redone with all new electrical, plumbing and HVAC system, as well as original historic pieces including doors & ceiling tiles, adding character & allure. It hosts a thriving restaurant & tap house tenant. Upstairs, a previously operational hotel awaits transformation. Imagine the possibilities of converting this space into boutique accommodations, capitalizing on the burgeoning tourism industry. Enjoy the scenic downtown views from the balcony, providing an added touch of elegance and ambiance. With a new elevator shaft already in place, accessibility is seamless, enhancing the property's appeal to both visitors and locals alike. Don't miss this chance to invest in a piece of Graham's rich heritage while seizing the opportunity for modern commercial success. Seller will sign a 3-year triple-net lease at $9,000 per month, with an option to extend. The restaurant is not for sale, only the structure. The sale will include all of the kitchen equipment that are permanently installed. There is a floor plan in Transdocs to convert the hotel portion into apartments. Seller is older and has decided that he doesn't have the energy to run the restaurant and finish the remodel of the upstairs. Please contact the listing agent for more details! Buyers are welcome to visit the restaurant during business hours, but please do not discuss the sale with any of the employees.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
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-
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| Other Income |
-
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-
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| Vacancy Loss |
-
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-
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| Effective Gross Income |
-
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-
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| Net Operating Income |
$99,999
|
$9.99
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Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
9,416 SF
Building Class
C
Year Built
1905
Price
£1,376,640
Price Per SF
£146
Net Initial Yield
6.15%
NOI
£84,716
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
1.03
Land Acres
0.21 AC
Zoning
Commercial
Parking
12 Spaces (1.27 Spaces per 1,000 SF Leased)
Frontage
57 ft on Elm Street
PROPERTY TAXES
| Parcel Number | 2767 | Improvements Assessment | £931,314 (2024) |
| Land Assessment | £27,956 (2024) | Total Assessment | £959,271 (2024) |
PROPERTY TAXES
Parcel Number
2767
Land Assessment
£27,956 (2024)
Improvements Assessment
£931,314 (2024)
Total Assessment
£959,271 (2024)
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Stephen Reich -
Williams Trew Real Estate
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609 Elm St
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