Low Rates.

Our rates are low, our application is quick and easy! We can get you clear to close in as little as 10 days!

Trusted By Agents With

Meet Bill Rapp

NMLS ID # NMLS # 228246

William Rapp, based in Houston, TX, US, is currently a Capital Advisor at Medallion Funds, bringing experience from previous roles at eXp Commercial, NEXA Mortgage, Viking Enterprise LLC and Sun Realty - Houston. William Rapp holds a 1997 - 2001 BBA in Finance @ Texas A&M University. With a robust skill set that includes REO, Sellers, SFR, FHA financing, Reverse Mortgages and more, William Rapp contributes valuable insights to the industry.

The Client Experience

Great experience purchasing our first home! Bill was easy to reach and always able to answer any questions or concerns.

Loan Programs Available

Blogs

The Top 5 Mortgage Mistakes to Avoid

Buying your first home can be both exciting and nerve-wracking at the same time. With so many things to consider and....

Mortgage Do and

Do not list

Mortgages can be tricky, and it's easy to make mistakes that can end up costing you dearly. That's why we've put together this list....

Tips On How To Improve Your Credit Score

Let's talk about some ways you can improve your credit score! Your credit score is actually a big deal, and it can affect...

šŸ“ Heights Landmark Garage Mahal Listed for $1.3M šŸ’µ

šŸ’ø Buy a Piece of Houstonā€™s Art History: Garage Mahal šŸ–¼ļø

October 31, 2024ā€¢4 min read

šŸ’ø Buy a Piece of Houstonā€™s Art History: Garage Mahal šŸ–¼ļø

šŸ“ Heights Landmark Garage Mahal Listed for $1.3M šŸ’µ

One of Houstonā€™s quirkiest landmarks has hit the market! The iconic ā€œGarage Mahal,ā€ former home to the Art Car Museum at 140 Heights Blvd, is now up for sale, asking $1.3 million. This building isnā€™t just another property; itā€™s a slice of Houstonā€™s cultural history and an exciting opportunity for commercial real estate investors looking to buy a piece of the cityā€™s artistic legacy. But whatā€™s next for this unique space in the ever-evolving Heights neighborhood?

A Look Back: The ā€œGarage Mahalā€ and Houstonā€™s Art Car Legacy šŸš—šŸ’„

The Art Car Museum, founded by Texas art legends Ann and James Harithas, was more than a placeā€”it was a movement. Known for its signature scrap metal spikes, spires, and hubcaps, the building became a beacon for the art car community and a must-see for tourists and locals alike. For over 25 years, this Heights landmark, designed by renowned artist David Best, housed exhibits that showcased the unconventional, rebellious side of Houstonā€™s art scene. šŸ–¼ļø

After the passing of both founders, the museum relocated to the Orange Show Center for Visionary Arts in the Third Ward, with a generous $1.25 million donation from the Harithas family ensuring its legacy lives on. But now, this unique building awaits its next chapter.

Whatā€™s Next? Potential for the Heightsā€™ CRE Market šŸ—ļø

The listing has generated a lot of buzz, and not just among art lovers. This is a unique opportunity for CRE developers and investors in the Heights. Known for its distinct personality, the buildingā€™s faƧade alone is a statement piece. So, what kind of future could this beloved landmark have? The possibilities are as creative as the museum itself:

1.     Boutique Art Studios and Galleries: With its rich history and ties to Houstonā€™s art scene, converting the space into artist studios, galleries, or even an art-focused co-working space could keep its creative spirit alive.

2.     Niche Retail or Restaurant Concept: The Heights is known for its vibrant, eclectic food and retail scene. Imagine a quirky restaurant or boutique that embraces the Garage Mahalā€™s eccentric design elements. Picture dining or shopping amidst the original David Best-designed decorā€”now, thatā€™s a destination!

3.     Creative Office Space: The areaā€™s demand for office space catering to start-ups, freelancers, and creative agencies is high. Renovating the building into a unique office space could draw businesses looking for an inspiring, unconventional work environment.

4.     Event and Performance Venue: Given its uniqueness, the building could transform into a small-scale event venue, offering an offbeat atmosphere for private events, gallery openings, and live performances. This would both honor its legacy and contribute to the vibrant social scene in the Heights.

Parking and Zoning: The X-Factors šŸ…æļø

One hurdle for potential buyers is the buildingā€™s parking restrictions. According to Mark Davis from Davis Commercial, the limited parking space may steer its future toward arts-focused uses, which require less parking than a typical retail space. But in the Heights, where street parking is often available, creative solutions like valet services or shared parking agreements with nearby businesses could open more possibilities for its use. šŸš—

Preserving a Piece of History: The Spikes and Spires Live On! šŸŒŸ

For fans of the buildingā€™s striking design, thereā€™s good news: the iconic spikes and spires are being preserved! Thomas Pascal Will Robinson, the foundersā€™ son, has confirmed that the decorative elements will be moved to the new museum site, where David Best will incorporate them into a fresh installation. So while the building itself may take on a new role, its soul will carry forward to the Orange Show Center for Visionary Arts. šŸŽ‰

Why CRE Investors Should Pay Attention šŸ™ļø

The Garage Mahal isnā€™t just a property; itā€™s a brand with a history and a built-in following. For the right investor, this is a chance to make a statement in the Heightsā€”a neighborhood that thrives on creativity, individuality, and a connection to local culture. Whether the buildingā€™s future lies in arts, retail, dining, or something entirely unexpected, the next owner has a rare opportunity to tap into a beloved part of Houstonā€™s cultural fabric.

So, what do you think the future holds for the ā€œGarage Mahalā€? Whatever happens, one thingā€™s certain: this sale marks the end of one era and the beginning of another for Houstonā€™s art scene and the Heights neighborhood. Stay tuned for the next chapter! šŸ“œšŸŒ†

Iā€™m an experienced Commercial Real Estate Mortgage Broker, please feel free to reach me at 281-222-0433.

#HoustonRealEstate #CRE #GarageMahal #ArtCarMuseum #HeightsHouston #CommercialRealEstate #HoustonArtScene #HistoricHouston #CREInvestment #HoustonLandmarks

https://www.billrapponline.com/

https://medallionfunds.com/bill-rapp/

https://houstoncommercialmortgage.com/

https://findamortgagebroker.com/Profile/WilliamRappJr28883

https://doctorvideo.billrapponline.com/

https://veteransvideo.billrapponline.com/

https://mortgageviking.billrapponline.com/

https://fha203h.billrapponline.com/

https://renovationvideo.billrapponline.com/

https://www.smartbizloans.com/partner/vikingenterprisellc/bill

https://www.fastexpert.com/loan-officer/bill-rapp-95119/

https://billrapponline.com/financingfuturescre-houston-katy

https://www.smartbizloans.com/assist/partner/medallionfunds/bill

https://billrapp.commloan.com/

 

Ā© 2023-2024 Bill Rapp, Medallion Funds LLC, Director of Capital Advisory

Houston Art Car MuseumGarage Mahal HoustonArt Car Museum for SaleHouston Heights Real EstateHouston Real Estate InvestmentCommercial Property for Sale HoustonCreative Spaces HoustonIconic Houston Buildings
blog author image

Bill Rapp - Commercial & Residential Mortgage Broker

Whether you're a first-time homebuyer, a seasoned investor, or a business owner with ambitious plans, securing the right financing is crucial. At Medallion Funds, we take the guesswork out of mortgages, offering a comprehensive suite of residential and commercial loan options to fit your unique needs. Looking for Your Dream Home? We understand the excitement and challenges of navigating the residential real estate market. Our experienced mortgage brokers will guide you through every step, from pre-qualification to closing. We offer a variety of loan programs to suit your financial situation, including: ā€¢ Fixed-rate mortgages: Offering stability with predictable monthly payments. ā€¢ Adjustable-rate mortgages (ARMs): Providing competitive rates for a set period. ā€¢ FHA loans: Making homeownership accessible with lower down payments. ā€¢ VA loans: Rewarding veterans with attractive rates and flexible terms. Investing in Your Business Future? Growth often requires capital, and we can help you unlock the potential of your commercial property. Our brokers specialize in a wide range of commercial loan options, including: ā€¢ Purchase loans: Financing the acquisition of new buildings or land. ā€¢ Construction loans: Facilitating the development of your project. ā€¢ Refinance loans: Restructuring your existing mortgage for better terms. ā€¢ SBA loans: Providing access to government-backed financing for qualified businesses. The Medallion Funds Difference: We go beyond simply finding a loan. We take the time to understand your goals and develop a personalized strategy. Here's what sets us apart: ā€¢ Expertise: Our brokers have a deep understanding of both residential and commercial lending. ā€¢ Competitive Rates: We leverage our strong lender relationships to secure the best possible terms. ā€¢ Streamlined Process: We handle the paperwork, keeping you informed every step of the way. ā€¢ Exceptional Service: We're committed to providing you with a positive and stress-free experience. Ready to Take the First Step? Contact Medallion Funds today for a free consultation. Let's discuss your financing needs and help you achieve your dreams!

Back to Blog

10 Tips for First-Time Homebuyers

Buying your first home can be both exciting and nerve-wracking at the same time. With so many things to consider and....

How To Choose the Right Lender for You

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy

Refinancing youe loan and when to do it

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy

Copyright Ā©2021 | Mortgage Viking Team

Licensed to Do Business | NMLS # 228246


This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Copyright Ā© 2021 | Medallion Funds


Corporate | NMLS ID NMLS # 1825831

Corporate Address : 2651 N. Green Valley Pkwy STE. 101 Henderson, NV 89014

Corporate NMLS NMLS # 1825831 | Company Website: https://medallionfunds.com/bill-rapp/

Copyright Ā©2021 | Mortgage Viking Team Licensed to Do Business | NMLS # 228246

This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply

Corporate | NMLS ID NMLS # 1825831

Corporate Address : 2651 N. Green Valley Pkwy STE. 101 Henderson, NV 89014 https://medallionfunds.com/bill-rapp/