1502 Market St - Hospitality FOR SALE


Galveston, TX 77550
$2,500,000 USD
409-737-5200
1502 Market St, Galveston, TX for Sale
$2,500,000 USD
Hospitality - FOR SALE
1/54
null | Request Cap Rate

1502 Market St
Galveston, TX 77550


HIGHLIGHTS

  • Award-winning B&B
  • Near beachfront
  • Historic

OVERVIEW

Located on sunny Galveston Island, Texas, George Manor is situated at the corner of Market Street and 15th Street on a spacious 0.444-acre lot (19,320 square feet). The main residence, the historic Edward T. Austin house, was originally built in 1868. In 1960, two guest cottages were added, and the entire property underwent extensive renovations in 2021 when it was converted into an award-winning bed and breakfast. The manor house, with its stunning original frescoes in the dining room, spans 3,812 square feet and features five guest suites. The guest cottages house four one-bedroom, one-bathroom apartments, making the property ideal for guests seeking privacy and comfort. George Manor is conveniently located near Galveston's beachfront and charming downtown area. Galveston Island is part of the larger Houston metropolitan area, strategically positioned near the Gulf of Mexico and close to Mexico. It benefits from the city's maritime significance, energy markets, aerospace industry, corporate headquarters, and healthcare systems. The University of Texas Medical Branch (UTMB) in Galveston, a prominent health sciences center established in 1891, also serves the community with its large campus and multiple hospitals. Contact us for inquiries or to arrange a visit to this unique and historic property.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$387 USD /SF

# OF ROOMS

10

PRICE/ROOM

$250,000 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

George Manor

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1851

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

SFR

APN/PARCEL ID

3505-0555-0008-000

ASK ABOUT THIS PROPERTY

Kimberly SawardBHGRE Gary GreeneMore Info
409-737-5200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Kimberly SawardBHGRE Gary GreeneMore Info
409-737-5200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.