Bonham, TX 75418 1503 N Center Street
$550,000
23 more
Presented By: Anoo Sathappun with Redbud Offices LLC; 469-434-7300
Home Details
Fully Leased commercial Building. Leased to State of Texas- Texas Family Initiative for monthly rent of $3600 unit nov 30 -2028 with every year $100 increse in rent . Cap Rate of 6.5. Utilities and maintenance on actuals paid directly by tenant. Repairs to be paid by tenant unless structural.
Rent clause image from lease agreement. Owner Pays Annual Taxes of $6100 -Year & Insurance -$2600 per Year
Fully Reconstructed in 2023 -Independent freestanding building:
New HVAC Systems & duct work 2023 – 10-Year warranty;New Commercial Electrical wiring systems-2023
New Plumbing and ADA restrooms-2023;New Foam insulation-2023;New doors, trims and windows-2023
New Flooring, Painting, door knobs and other finish items-2023;New concrete, sidewalks, parking per approved site plan;New Landscaping
Presented By: Anoo Sathappun with Redbud Offices LLC; 469-434-7300
Interior Features for 1503 N Center Street
Other Interior Features
SQFT Gross1658
Lock Box TypeNone
FlooringLuxury Vinyl Plank
Total Stories1
Total Units1
General for 1503 N Center Street
Building UseBeauty/Barber, Medical, Office, Other
Business NameTexas Family Initiative
Business TypeAccounting, Advertising, Animal Grooming, Athletic, Bakery, Bar/Tavern/Lounge, Barber/Beauty, Carpet/Tile, Child Care, Commercial, Dance Studio, Decorator, Employment, Health Services, Office Supply, Professional O
Ceiling Height8 to10 Feet
CityBonham
Construction MaterialsSiding, Other
CoolingCentral Air
CountyFannin
DirectionsFrom US highway 82 go towards south on Hwy 78 Property is in the right side at the corner of East 16 St.
Floor Location Number1
Gross Annual Expenses10000.00
HeatingCentral
Insurance Expense2600
Listing Terms1031 Exchange
Occupant TypeTenant
Possession30-60 Days, 60-90 Days
Property SubtypeOffice
Property TypeCommercial Sale
RoofComposition, Wood
Security FeaturesSmoke Detector(s), Other
Standard StatusActive
StatusActive
Subdivision NameNo
Tenant PaysAll Utilities
Unexempt Taxes6025
UtilitiesCity Sewer, City Water
Virtual Tour URL UnbrandedClick here
Will SubdivideNo
Year Built1950
Year Built DetailsPreowned
Zoning DescriptionCommercial
Exterior for 1503 N Center Street
Building Area Total1658.00
Foundation Block
Lot FeaturesCorner Lot, Few Trees
Lot SizeLess Than .5 Acre (not Zero)
Lot Size Acres0.3690
Lot Size Area0.3690
Lot Size SourcePublic Records
Lot Size Square Feet16073.6400
Lot Size UnitsAcres
Parking FeaturesParking Lot
Road Frontage TypeCity Street
WaterfrontNo
Additional Details
Price History
Rodney Edwards
Associate Broker