For Auction
Absolute Auction
First bid meets reserve
Asset Snapshot
Offering Summary
700 West Houston Street
Former Junior High School
RealINSIGHT Marketplace and EDGE Capital Markets are pleased to offer the opportunity to acquire 700 West Houston Street, a 130,000-sf former junior high school located in Marshall, Harrison County, Texas (the “Property”).
INVESTMENT HIGHLIGHTS
Absolute Auction: Opening bid hits reserve.
Opportunity Zone Investment*: The Property sits within an Opportunity Zone, a tract nominated by governors into which investors can now put capital to work by financing new projects in exchange for certain federal capital gains tax
advantages.
Unique Redevelopment Opportunity: The Property offers a redevelopment opportunity at below replacement cost and is zoned R-2. The Property also includes 6.6 acres of park-like land, which provides a value-add investor the ability to quickly increase the Property’s overall value via an immediate sale, ground lease or development of the residual land.
Heart of Established Trade Area: Centrally located within the city of Marshall, the Property is immediately surrounded by 7,900 homes within a 3-mile radius and a population of 20,000 residents. Marshall, TX is home to four institutes of higher education and pulls from a skilled workforce of over 250,000 people within a 30-mile radius.
*For more information about Opportunity Zones contact a tax consultant. Additional information can be found at:https://www.cdfifund.gov/Pages/Opportunity-Zones.aspx
THE OFFERING
Constructed in 1924, the Property features one (1) three-story building totaling approximately 130,000 square feet (SF), three parking lots and three tennis courts on a total of 9.72 acres. The Property was originally constructed as Marshall High School, and served the community through 1980, when it then became Marshall Junior High School through 2017. The former school building features two commercial cafeterias, two auditoriums and two gyms. The Property features multiple points of ingress/egress and is highly visible from West Houston St, South College St and Whetstone St. Additionally, the Property offers ample accessibility as it is situated 1.5 miles from US Hwy 59 and 3.5 miles from I-20.
Due Diligence
Platform Fee
Buyer pays a minimum platform fee of 5% or $25,000 at closing.
How it Works
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
