Pasadena, TX Retail Property For Sale

2nd Generation Restaurant/Bar parcel opportunity in Pasadena, TX near the intersection of Red Bluff and Spencer Highway.

The parking lot has 2 separate entrances and includes 134 parking spaces with 5 additional handicap and 3 motorbike parking spaces.

The building is 12,540 Sq Ft and is made up of a shell that is approximately 5,040 Sq Ft. and a bar that is currently lease and is approximately 7,500 Sq Ft.

Chase, Jiffy Lube and Kroger are a few key businesses in the area.

Recently (2009) built commercial property with value add opportunity located in one of the most desirable parts of Pasadena. Only a few blocks away from HCA Houston Healthcare Southeast, this shopping Plaza has stable long term tenants in 6 of the 8 rentable spaces. The 2 vacant spots provide opportunity for the owner to add value to their investment. This class B+ complex is priced attractively for the new buyer and can include Washeteria business for additional income.

This property has been rehabbed and modified catering to Houston’s and Pasadena’s night life and events. With multiple rooms and ample space to entertain up to 300 plus people; this is a move in ready, business ready facility. This property has several large restrooms with private water closet for women and a large built-in bar ready to serve. There’s also new plumbing and electrical throughout, with 4 new HVAC units and duct work in 2011 to cool this 8000 plus square feet venue. This building can be used and is currently ready for multiple purposes such as, a night club, ballroom, event center even private parties and conferences. This property sits on more half an acre; open area can be used for parking, patio addition, or building expansion with additional parking in the front and side of the building.

• Property is located on NEC of Spencer Hwy and Burke Rd with a combined traffic count of 48,857 VPD

• Strong Demand Drivers: Within a three mile radius, the population is ~142k and avg. HH income is ~$73k

• The Beltway 8 / Pasadena trade area features a variety of national retail anchors spurring commerce in the area

Just completed remodeling job in June 2019

• New Roof

• New Floors

• New Inside Wall Covering

• New Lighting

• Remodeled both Restrooms

• Seller/Owners remodeled Restaurant

Owner financing Terms:

• $140,000 Down

• 6% Interest

• 20 Year Amortization Table

• 5 Year Balloon