This property is facing foreclosure and MUST SELL! Located on a busy corner, in the heart of downtown Mercedes, on Texas Ave. 3 lots totaling an est. 1 acre.
CURRENTLY ZONED COMMERCIAL
DIRECTLY ACROSS FROM AUTO-ZONE
NEXT DOOR TO PRONTO INSURANCE
ADJACENT TO NEWLY REMODELED MULTI-LEVEL APARTMENT COMPLEX
Property is currently used as a multi-unit development accepting Section 8 Housing. 7 units plus a large home are occupied totaling an est. $4500/mo. in rent. Many of the tenants are long term and on month to month leases. Property vacancies lease out very quick as it's located in the direct down-town area along the route of City Parades.
Best suitable use of property would be to remodel and increase rent using larger home as restaurant OR demolish and re-build apartments, strip center or restaurant OR demolish and bring in a corporate company.
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