Downtown Sealy Rice Mill
BROKERS' NOTES: 0% projected annual property value increases in Austin County through 2018! Sealy is back. I10 is humming! Great repurposing or reclamation opportunity. 9,094 SF, truss clear spans up to 123', ten 3-story rice bins, 33,000+ SF EST tin siding. $950K RESTAURANT unmet local demand at 5-minute drive-time. 7 other retail opportunities at $1M+ at 5-minutes! Great location for entertainment venue, tequila distillery, wine bar, antique mall, or...reclamation.
PRICE REDUCED to $147,000 Tremendous Austin County reclamation or conversion of Old Sealy Rice Mill in historic downtown. Two joining 3 story buildings with 9,094 SF. Trusses span 56 FT, 100FT and 123 FT. Ten 3-story 4x6 wood bins appear in great condition! Equipment including furnace is intact. We estimate 33,000 SF of tin on building superstructure. Company posters, signs and other momentos in original locations. Potentia...
PRICE REDUCED to $147,000 Tremendous Austin County reclamation or conversion of Old Sealy Rice Mill in historic downtown. Two joining 3 story buildings with 9,094 SF. Trusses span 56 FT, 100FT and 123 FT. Ten 3-story 4x6 wood bins appear in great condition! Equipment including furnace is intact. We estimate 33,000 SF of tin on building superstructure. Company posters, signs and other momentos in original locations. Potential government incentives. Easy I10 access. 8 excellent unmet local retail opportunities identified. 5% Buyer Broker Commission. $175,000.
5% BUYER BROKER COMMISSION. Buyer Broker/Realtor does NOT have to accompany their buyer to ANY showings to receive full commissions. Property visits must be accompanied by a listing broker authorized representative.
CONTACT
DIANE ALEXANDER, MBA
CEO, OWNER BROKER
Southwest Partners & Global Partners International Realty
M +1 713.591.9902 O +1 979.421.9996
PROPERTY
(1) Address: 530 W Front ST, Sealy, Austin County, TX 77474
(2) Google Map NOTE: Google and many GPS tools map the correct address as 525 W Front ST, Sealy, TX 77474
(3) Coordinates: 29.778607, -96.154174
(4) Highest and Best Uses
We believe the highest and best use is complete reclamation of wood, tin, metal, and selected Rice Mill infrastructure and resell the land.
Based on CCIM Retail Gap and consideration of Sealy Downtown Preservation District Code, the following are best retail uses: Full Service Restaurant; Motor Vehicles & Parts; Food & Beverage Store; Department Store; Electronics & Appliances; Sports, Books & Music; Furniture & Furnishings.
See (17) to (21) for detailed Retail Gap Analysis.
(5) Description
The Sealy Rice Mill was built in the 1940s and was successful and fully operational until the 1960s. It is comprised of two joined 3 story buildings totaling 9,094 enclosed SF. The South Building is 56 by 100 (5,600 SF) and 3 stories tall! The North Building is a custom configuration totaling 3,494 SF with a 123 east wall facing the railroad.
Historically rice was brought to the Rice Mill by farmers in their own trucks. The trucks would pull under the awning to be unloaded. The currently intact hoist was attached to the front of the truck and would lift it up to dump the rice into the concrete pit. The rice was transported into the Rice Mill by conveyor. Rice was deposited into 10 large wooden bins by massive equipment that is still in place. Each bin is constructed of 2x6 solid wood boards laid flat from floor to ceiling 3 stories high. All 10 bins are still in the Northern Side of the Building.
In the bins, the rice was heated, dried and then stored waiting to be shipped. The furnace and elevator are still in the building. Rice was shoveled onto the rail cars directly from the back of the building. All bagging was done on site and a conveyor belt once ran to the building across the street and back to help with the packaging process.
Many of the posters and signs and markings used in the operation of the mill are still on the walls. The strings used to measure the piles of rice are still hanging ready to estimate rice weights!
Since the Rice Mill closed, it has been used for the owners personal storage.
(6) 249 FT Frontage
(7) 9,094 SF Enclosed Area
5,600 SF South Side
3,494 SF North Side
(8) 476 ST Covered Area
(9) 0.4875 Acres / 21,236 SF Lot
(10) On Street Parking
(11) All City Utilities in Place
(12) Permitted Retail Sales & Service Uses
This information is provided from Sealy Downtown Preservation District Code Chapter 29-3 Permitted Uses. Any Business Licenses is subject to City of Sealy approval.
Retail Sales & Service
Retail food establishments: Bakery, specialized food goods, restaurants, cafes, private clubs, including establishments that serve alcohol
Specialty stores: jewelry, stationary, antiques, crafts, art
General merchandise: furniture, pharmacy, department store
Retail service: banks, real estate, finance, legal, medical, other professionals, barber shops, beauty parlors, locksmiths, photography studios, tailor shops, and watch repair
Auditoriums, theaters, museums, and galleries
Bed and Breakfasts, hotels and motels
Wineries and breweries
(13) Local Incentives
Business Improvement Grant Program
Economic Development Incentive
Tax Abatement
(14) State Incentives
(15) Legal: PIDN R000059770: ABST A005 SAN FELIPE DE AUSTIN T T
(16) Taxes: $1,442 EST
NOTE: All measurements and data are from Austin County Appraisal District unless EST. EST is our estimate.
RETAIL GAP
(17) Summary: Highest categories of unmet local demand that fit the property and we believe meet code are: Car Dealer & Parts; Food & Beverage Store (mini HEB); Department Store; Electronics & Appliances; Sports, Books & Music; Furniture & Furnishings; Full Service Restaurant; Clothing & Accessories.
(18) Retail Gap Defined: Retail gap identifies dollars spent by local residents outside of their residential area. Commercial Investment Member (CCIM) standards normally use a 5 MIN drive-time in metropolitan areas. In non-urban and tertiary markets, driving 15 minutes or more is not uncommon for dining, shopping, services and entertainment.
(19) Retail Gap Formula
Retail Demand ($ Spent) Retail Supply ($ Spent Locally) = Retail Gap/Surplus.
A POSITIVE number is Retail Gap. A NEGATIVE number is Retail Surplus.
(20) Data Refinement
We eliminate retail businesses that will not fit the footprint or are not allowed by code. For example, Gas Station unmet local demand is $4,798,344 but we do not include it as potential opportunities as it is not allowed by code and does not fit the location.
(21) Top Unmet Local Retail Opportunities
Motor Vehicles & Parts (NAIC #441)
$10M+ at 5 MIN Drive Time
$13M+ at 10 MIN Drive Time
$21M+ at 15 MIN Drive Time
Food & Beverage (NAIC #445)
$5.2M+ at 5 MIN Drive Time
$7.8M+ at 10 MIN Drive Time
$14M+ at 15 MIN Drive Time
Department Store (NAIC #4521)
$3.2M+ at 5 MIN Drive Time
$4.3M+ at 10 MIN Drive Time
$6.9M+ at 15 MIN Drive Time
Full Service Restaurant (NAIC #7221)
$950K+ at 5 MIN Drive Time
$1.6 M+ at 10 MIN Drive Time
$3M+ at 15 MIN Drive Time
Electronics & Appliances (NAIC #4431)
$1.4M+ at 5 MIN Drive Time
$1.8M+ at 10 MIN Drive Time
$2.9M+ at 15 MIN Drive Time
Furniture & Furnishings (NAIC #442)
$1M+ at 5 MIN Drive Time
$1.4M+ at 10 MIN Drive Time
$2.3M+ at 15 MIN Drive Time
Sports, Books & Music (NAIC #451)
$1.1M+ at 5 MIN Drive Time
$1.4 M+ at 10 MIN Drive Time
$2.3M+ at 15 MIN Drive Time
LOCATION
(22) Historic Downtown Sealy
(23) Easy I10 Access
1.4 MI from exit #720 westbound from Houston to My Place
1.6 MI from exit #720 eastbound from San Antonio to My Place
(24) Easy Houston Access
21 MI to Katy
23 MI to Grand Parkway
36 MI to Sam Houston Tollway
45 MI to I610
53 MI to Downtown Houston
2013 DEMOGRAPHICS & ECONOMETRICS
(25) 5 MIN Drive Time
5,686 Population
2,081 Households
$45,262 Median Disposable Income
(26) 10 MIN Drive Time
7,820 Population
2,820 Households
$46,048 Median Disposable Income
(27) 15 MIN Drive Time
12,377 Population
4,424 Households
$45,300 Median Disposable Income
(28) Sealy
13,571 Population
5,111 Households
$55,718 Median Disposable Income
(29) Austin County
29,320 Population
11,155 Households
$52,037 Median Disposable Income
CCIM REPORTS AND LISTING ANALYSIS
All demographic and econometric data from Certified Commercial Investment Member (CCIM) Institute. 1,184 underlying CCIM reports are available on request. For your convenience, we now provide many reports in Excel.
DISCLOSURES & COPYRIGHTS
Southwest Partners & Global Partners International Realty are registered trademarks and DBAs of Alexander Tiffany Southwest, LLC. We support the Fair Housing Act and Equal Opportunity Act. Information is from third parties we consider reliable, but we cannot represent it is accurate or complete, and it should not be relied upon as such. Offerings are subject to errors, omissions, changes, including price, or withdrawal without notice. All dimensions are from sources noted and have not been verified by the seller or us. We recommend hiring a professional such as an appraiser, architect or civil engineer, to determine such information.
Sealy Rice Mill for Sale,Reclamation,Austin County Commercial Realtor,Austin County Real Estate,Sealy Real Estate,Houston Commercial Broker,Diane Alexander CEO,George Alexander CFO,swpre
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