3808 stanford & 819 w. alabama · 2019-08-21 · 3808 stanford st. houston, tx 77027 & 819...

An Inner Loop Development Opportunity with improvements in Houston, Texas

OFFERING BROCHURE+/- 33,875 SF

3808 Stanford & 819 W. Alabama

SITEW. ALABAMA ST.

3808 Stanford & 819 W. Alabama

An Inner Loop Development Opportunity with improvements in Houston, Texas

OFFERING BROCHURE+/- 33,875 SF

2

3808 Stanford St.Houston, TX 77006

819 W. Alabama St.Houston, TX 77006

3808 Stanford St.Houston, TX 77006

HOUSTON CBD (2 MILES)

MIDTOWN

THE HOUSTON

ZOO

THE MUSEUMDISTRICTRICE

UNIVERSITYTEXAS

MEDICAL CENTER(3 MILES)

RIVER OAKS

RIVEROAKS

COUNTRY CLUB

HOUSTONCOMMUNITY

COLLEGE

COMMUNITY AMENITIES

3

PRICE TBD

0.78 Acres | 33,875 SF3808 Stanford St. Houston, TX 77027 & 819 W. Alabama St. Houston, TX 77006

3808 Stanford and 819 West Alabama is a 0.78 acre site within the Montrose/Museum District submarket in Houston, Texas.

The subject is located between the Midtown/Downtown and Upper Kirby District and features 2 buildings which include: a 3,360 SF retail center on 819 W. Alabama St. (Built in 1930, previously housed a restaurant and treatment center) and a 5,222 SF multifamily apartment on 3808 Stanford St. (Built in 1940, 2 stories, with a total of 8 units and average unit size of 552 SF).

The Montrose District has received recognition as one of the most exciting urban communities in the country. (www.MontroseDistrict.org). The majority of land in Montrose is used for single-family, multifamily, or retail. West Alabama is considered one of the most important thoroughfares in the area because of its wide variety of dining, entertainment and shopping centers. Most businesses in the area are small family operated enterprises which gives Montrose character that is unique in Houston.

The Montrose District has a total of over 3,500 businesses and 16,000 employees. Other major employment centers within 3 miles distance include : Greenway Plaza (755 businesses/ 25,000 employees), Texas Medical Center (15 hospitals/3 medical schools/ 106,000 employees), and Houston’s Central Business District (3,500 businesses /150,000 employees).

The site is in close proximity to Houston’s top-ranked educational institutions, the Museum District (the sixth largest museum district in the U.S. with over 8 million visitors per year), and many other entertainment destinations.

Montrose has a high demand for new retail, restaurant, and residential concepts. 3808 Stanford and 819 West Alabama offers investors an exceptional opportunity to develop an underutilized property inside Houston’s Urban Core.

• Nearly an acre of prime development land in Houston’s Montrose District, recognized as one of the most exciting urban communities in the country

• The site is unrestricted but is bordered by historic districts to the north and south and is uniquely positioned to provide forever views for a hi-rise development (www.har.com/first-montrose-commons-historic-district/realestate_area/13,

www.har.com/audubon-place-historic-district/realestate_area/2)

• Three miles from major employment centers including: -Houston’s CBD (3,500 businesses,150,000 employees) -Greenway Plaza (755 businesses, 25,000 employees) -Texas Med Center (15 hospitals,106,000 employees)

• Within walking distance to St. Thomas University and the Museum District

• In close proximity to Houston’s best entertainment destinations:

• Home values in the area range from $600,000 to greater than $3 million

• Average Household Income is above $100,000 in the Montrose/ Museum District

• West Alabama St. averages a daily traffic count of over 13,000 vehicles while Montrose Blvd. averages a daily traffic count of over 30,000 (The Subject’s main roadway intersection)

• Currently, Montrose has the most multifamily developments in Houston with 2,258 units under construction & 3,264 units proposed

• Two miles distance from Rice University, one of the top science and engineering institutions in the country

• Not subject to Historic District regulations

LOCATION INFORMATION AVAILABLE

SITE

The Houston Zoo, Hermann Park, Jones Hall, Wortham Center, The Menil Collection, Museum of Fine Arts, Museum of Natural Science, Holocaust Museum, The Children’s Museum, Hobby Center for the Performing Arts, McGovern Centennial Gardens, Miller Outdoor Theatre among many others

UNIVERSITY OFHOUSTON

TEXASSOUTHERNUNIVERSITY

GREENWAY PLAZA(3 MILES)

MONTROSE

UNIVERSITYOF ST.

THOMAS

THE MENIL

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WEST UNIVERSITY

PLACE

h o u s t o n , t e x a s 7 7 0 0 63 8 0 8 s t a n f o r d s t . & 8 1 9 w . a l a b a m a s t .

RENDERING

4


AERIAL MAP

5

HOUSTON CBD (2 MILES)

HOUSTONARBORETUM

& NATURE CENTER

MEMORIAL PARK

MIDTOWN

RIVER OAKSUPTOWN/GALLERIA DISTRICT(5 MILES)

GREENWAY PLAZA(3 MILES)

WEST UNIVERSITY

PLACETHE

HOUSTONZOO

THE MUSEUMDISTRICT

RICEUNIVERSITY

TEXAS MEDICAL CENTER

(3 MILES)

UNIVERSITY OFHOUSTON

N

STANFORD ST.

W. ALABAMA ST.

MO

NTROSE ST.

ROSELAND ST.

GREELEY ST.

JACK ST.

W. MAIN ST.

SITE

N

SITE

HOUSTONCOMMUNITY

COLLEGE

MONTROSE

TEXASSOUTHERNUNIVERSITY

RIVEROAKS

COUNTRY CLUB

BUFFALO BAYOU

RICE MILITARY

WOODLANDHEIGHTS

UNIVERSITY OFHOUSTON DOWNTOWN

UNIVERSITYOF ST.

THOMAS

THE MENIL

COLLECTION


AERIAL MAP

6

W. ALABAMA ST.

MO

NTROSE ST.

STANFORD ST.

ROSELAND ST.

W. MAIN ST.

33,875 SF

N

N

W. MAIN ST.

ROSELAND ST.

STANFORD ST.

W. ALABAMA ST.


LOCATION

70

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N

Pasadena

Houston

45

610

Hobby Airport

8

59290

288

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Port of Houston

HoustonCBD

MedicalCenter

GreenwayPlazaGalleria

Westchase

Sugarland Pearland

IntercontinentalAirport

249

Greenspoint

8

Energy Corridor

59

SITE


CITY OF HOUSTON - HISTORIC DISTRICTS

80

Source: GIS Services DivisionDate: 5/19/2014Reference: pj17567_HFW

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WOODLANDHEIGHTS

AUDUBONPLACE WESTMORELAND

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WESTNORHILL

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MAIN STREETMARKET SQUARE

OLD SIXTHWARD

BOULEVARDOAKS

BROADACRES

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Wheeler St

Greenbriar D

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Memorial Dr

Shephe rdD

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Richmond Ave

Dunlavy St

W Alabama St

Lorraine St

Westheimer Rd

SLo

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Weslayan St

Yale St

Heights B

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Airli ne

Dr

Washington Ave

Westpark Dr

Alm

eda

Rd

WT C Jester Blvd

W 20th St

Elgin St

Scot

t St

Bagb

y St

Rice Blvd

Alabama St

N M

ain St

W Dallas St

Navigation Blvd

W 34th St

Southmore Blvd

Leeland St

Bissonnet St

N Main

Canal St

San Felipe St

Polk St

Erne

stin

e St

Dowl

ing S

t

W 11th St

Cul

len

Blvd

White Oak Dr

W H

ardy Rd

Ella Blvd

Blodgett St

Cavalcade St

Binz St

Hogan St

Edloe St

W 6th St

Studewood St

Quitman St

Irving tonB

lv d

N Shepherd D

r

E T C Jester Blvd

Craw

ford

St

Patton St

Coolingsworth St

Louis

iana

St

W Gray St

N York

St

E 20th St

Durham

Dr

W Cavalcade St

W Patton St

Prairie St

York

St

Lovett Blvd

Sam

pson

St

Main

Mckinney St

Texas St

Crockett St

W 18th St

Pecore St

Allen Pkwy

Westcott St

Memorial Dr

Kirby Dr

S Shepherd D

r

Jensen Dr

Fann

in St

N D

urham D

r

Buf fal o

Speedw

ay

N Main St

FultonSt

Houston Ave

Hardy R

d

S a wye r S

t

Waugh D

r

Ennis

St

Elysian St

TC

Jest

erB l

vd

Comm

onwealth StSt

udem

ont S

t

River OaksCountry

Club

RiceUniversity

University ofHouston

TexasSouthern

University

Audubon Place

Avondale East

Avondale West

Boulevard Oaks

Broadacres

Courtland Place

First Montrose Commons

Freeland

Germantown

Glenbrook Valley

High First Ward

Houston Heights East

Houston Heights South

Houston Heights West

Main Street/Market Square

Norhill

Old Sixth Ward

Shadow Lawn

Starkweather

West Eleventh Place

Westmoreland

Woodland Heights

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City of Houston Historic Districts

SITE

Source: GIS Services Division


9

Appraisal District Harris County

2018 Tax Rate 2.526348%

Property ID # 0230760000001

Land $2,872,830

Improvements $ 244,195

Total 2018 Tax Value $ 3,117,025

SURVEY

819 W. Alabama St. & 3808 Stanford St.

• ACRES : 0.78• GROSS SF LAND : 33,875• SF IMPROVEMENTS : 8,582

Unit Description

# of Units

Avg Unit SF

Market Rent / Unit

Market Rent / SF

1Bd/1Bth 2 685 $950 $1.39

1Bd/1Bth 1 578 $950 $1.64

1Bd/1Bth 1 575 $950 $1.65

1Bd/1Bth 2 440 $950 $2.16

1Bd/1Bth 2 505 $950 $1.88

Totals/Avg 8 552 $950 $1.72

UNIT MIX

Unit Description

# of Units

Avg Unit SF

Market Rent / Unit

Market Rent / SF

Commercial building 1 3,360 Vacant Vacant

Totals/Avg 1 3,360 Vacant Vacant

Apartments Commercial Building / Restaurant


TEXAS MEDICAL CENTER

CENTRAL BUSINESS DISTRICT

GREENWAY PLAZA

MAJOR EMPLOYERS

Central Business District (Downtown) 2.2 150,000

Greenway Plaza 2.9 25,000

Texas Medical Center 3.0 106,000

Uptown District/Galleria 4.5 82.000

University of Saint Thomas 0.4 900

Kellogg Brown & Root (KBR) 1.7 5,000

NRG Energy, Inc. (Corporate Headquarters) 2.1 1,000

EP Energy 2.2 1,000

Pennzoil-Quaker State Co. 2.2 800

City of Houston 2.3 1,000

Jpmorgan Chase Bank, National Association 2.3 1,000

William Marsh Rice University 2.3 1,689

Shell Oil Company 2.4 1,000

Baker Botts L.L.P. 2.4 722

University of Houston 3.0 1,300

The Hearst Corporation 4.7 1,500

Miles# of

Employees

KBR TOWER

UPTOWN DISTRICT/ GALLERIA

10


AREA ATTRACTIONS

Parks and Recreation Miles

Miller Outdoor Theatre 1.8

Hermann Park 1.9

Hermann Park Golf Course 2.0

Eleanor Tinsley Park 2.2

River Oaks Country Club 3.2

Buffalo Bayou Park 3.6

Memorial Park 5.1

Retail / Entertainment

The Menil Collection 0.6

Houston Museum of Fine Arts 1.3

Houston Museum of Natural Science 1.4

Children’s Museum of Houston 1.4

McGovern Centennial Gardens 1.5

Houston Zoo 2.0

The Galleria 5.7

Educational Institutions

St. Thomas University 0.4

Texas Southern University 2.2

Baylor College of Medicine 2.2

Rice University 2.3

University of Houston Central 3.0

University of Houston Downtown 3.0

Texas A&M University 3.0

11

12

3808 Stanford St. 3808 Stanford St.

3808 Stanford St.

3808 Stanford St.3808 Stanford St.

3808 Stanford St.

3808 Stanford St.

13

819 W. Alabama St.

819 W. Alabama St.

819 W. Alabama St.

819 W. Alabama St.

819 W. Alabama St. 819 W. Alabama St.


AREA DEMOGRAPHICSRadius 1 Mile 3 Mile 5 Mile

Population

2024 Projection 31,598 218,089 513,731

2019 Estimate 29,395 203,213 480,101

2010 Census 23,512 160,450 393,565

Growth 2019 - 2024 7.49% 7.32% 7.00%

Growth 2010 - 2019 25.02% 26.65% 21.99%

2019 Population by Hispanic Origin 6,514 39,841 144,797

2019 Population by Race 29,395 203,213 480,101

White 22,407 76.23% 132,619 65.26% 317,913 66.22%

Black 3,736 12.71% 46,879 23.07% 108,411 22.58%

American Indian and Alaskan 222 0.76% 1,036 0.51% 3,237 0.67%

Asian 2,291 7.79% 18,501 9.10% 41,212 8.58%

Hawaiian and Pacific Islander 20 0.07% 112 0.06% 357 0.07%

Other Race 719 2.45% 4,066 2.00% 8,969 1.87%

Households

2024 Projection 17,831 104,641 228,242

2019 Estimate 16,613 96,815 212,692

2010 Census 13,502 74,375 173,050

Growth 2019 - 2024 7.33% 8.08% 7.31%

Growth 2010 - 2019 23.04% 30.17% 22.91%

Owner Occupied 5,479 32.98% 36,615 37.82% 89,526 42.09%

Renter Occupied 11,134 67.02% 60,200 62.18% 123,166 57.91%

2019 Households by HH Income 16,612 96,816 212,693

Income Less Than $25,000 3,053 18.38% 15,976 16.50% 43,543 20.47%

Income: $25,000 - $50,000 2,660 16.01% 13,020 13.45% 35,032 16.47%

Income: $50,000 - $75,000 2,953 17.78% 13,729 14.18% 30,263 14.23%

Income: $75,000 - $100,000 1,469 8.84% 10,508 10.85% 22,071 10.38%

Income: $100,000 - $125,000 1,423 8.57% 8,279 8.55% 17,067 8.02%

Income: $125,000 - $150,000 1,354 8.15% 6,864 7.09% 12,252 5.76%

Income: $150,000 - $200,000 1,469 8.84% 9,426 9.74% 16,375 7.70%

Income: $200,000 or more 2,231 13.43% 19,014 19.64% 36,090 16.97%

Source: CoStar Realty Information, Inc, August 2019

14

10-10-11

Before working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord

(owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly.

IF THE BROKER REPRESENTS THE OWNER:The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent.

IF THE BROKER REPRESENTS THE BUYER:The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent.

IF THE BROKER ACTS AS AN INTERMEDIARY:A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain the written consent of each party to the transaction to act as an

Approved by the Texas Real Estate Commission for Voluntary Use Texas law requires all real estate licensees to give the following information about

brokerage services to prospective buyers, tenants, sellers and landlords.

Information About Brokerage Services

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction:

(1) shall treat all parties honestly;

(2) may not disclose that the owner will accept a price less that the asking price unless authorized in writing to do so by the owner;

(3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and

(4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property.

With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party.

If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.

Buyer, Seller, Landlord or Tenant Date

Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 , 512-936-3000 (http://www.trec.texas.gov)

TREC No. OP-K

15

The information provided herein was obtained from sources believed reliable; however, Transwestern makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice. Copyright © 2015 Transwestern. 10-1035.0610.This offering is submitted and received with the understanding that all offers for the acquisition of the herein described property will be conducted through Transwestern. The Seller, Transwestern expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or terminate discussions with any entity at any time with or without notice.

1900 West Loop South, Suite 1300 Houston, Texas 77027 | T 713.270.7700 | F 713.271.8172 | www.transwestern.com

INVESTMENT CONTACTS PROPERTY TOUR INQUIRIES

Tranica HendersonMarketing [email protected]

Lupe OlivaresAssistant Vice [email protected]

Ed CumminsSenior Vice [email protected]

A. David Schwarz III, SIORVice President [email protected]

Carlos P. BujosaVice President [email protected]

Primary Contact:

3808 stanford & 819 w. alabama · 2019-08-21 · 3808 stanford st. houston, tx 77027 & 819...

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