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$900,000

2028 Mechanic St, Galveston, TX, 77550

On MarketInfo
Just AddedInfo
CommercialInfo

Highlights

Interior

Bedrooms —Bedrooms —
Bathrooms —Bathrooms —

Exterior

Lot Size5,162 sqft

Land Information

APN3505-0620-0014-000
Lot Number14
SubdivisionGalveston Townsite
Land UseCommercial
Legal DescriptionABST 628 M B MENARD SUR LOT 14 BLK 620 GALVESTON
Census Tract724500
Assessed Land Value$234,780
Assessed Improvement Value$20,900
Assessment Year2025

About this property

Rare opportunity to own a turnkey, income-producing parking asset in the heart of downtown Galveston. This 0.12-acre surface lot at 2028 Mechanic Street has 18 striped parking spaces and an automated pay system already in place, so it is ready for immediate operation with minimal management. The lot sits in one of the island’s busiest pedestrian and vehicle corridors, with high visibility and steady demand from the Historic Strand District, downtown offices, restaurants, nightlife, and the nearby Port of Galveston cruise terminals. Downtown parking is limited and in consistently high demand from visitors, cruise passengers, and the local workforce, which makes this a dependable cash-flow investment. The site also offers long-term flexibility. Opportunities to acquire well-located downtown land are increasingly rare, making this an ideal acquisition for investors, parking operators, and landholders looking for a low-maintenance asset with upside.

Investor Tools

$0Estimated Mortgage Balance
$67,853Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$5,400 /month
Positive
Cash Flow Estimate:
$1,800 /month

Interested in this property?

Clay Conrad

Latitude 29 Group

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$110/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$979
$67,853
2025
$234,780
$20,900
$255,680
No

Tax History

Year
Tax Paid
Assessed Value
2024
$979
$67,853

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$67,853
100%
0%
$0/mo

City: Galveston

2028 Mechanic St | Property Details | No Agent List