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Midtown Urban Retail Investment Opportunity 2303 Smith St

42,970 SF Retail Building Houston, TX $15,130,000 ($352/SF) 5.5% Cap Rate

Investment Highlights

  • Top MSA
  • Epicenter of the Midtown Entertainment & Nightlife Scene
  • Dynamic & High-Income Demographics
  • Houston's Most Walkable Urban "Cool Street" District
  • New Long Term Leases In-Place
  • Grocery Shadow-Anchored Asset

Property Facts

Sale Type
Property Type
Building Size
Building Class
Year Built
Sale Type
Property Type
Building Size
Building Class
Year Built
Price
Price Per SF
Sale Type
Property Type
Building Size
Building Class
Year Built
Price
Price Per SF
Cap Rate
Year-1 NOI
Tenancy
Building Height
Building FAR
Land Acres
Investment
Retail
42,970 SF
C
1961
Investment
Retail
42,970 SF
C
1961
$15,130,000
$352
Investment
Retail
42,970 SF
C
1961
$15,130,000
$352
5.50%
$832,150
Multiple
3 Stories
0.91
1.09 AC
Price
Price Per SF
Cap Rate
Year-1 NOI
Cap Rate
Year-1 NOI
Tenancy
Building Height
Building FAR
Land Acres
$15,130,000
$352
5.50%
$832,150
5.50%
$832,150
Multiple
3 Stories
0.91
1.09 AC
Tenancy
Building Height
Building FAR
Land Acres
Multiple
3 Stories
0.91
1.09 AC
Parking
Opportunity Zone
10 Spaces (0.23 Spaces per 1,000 SF Leased)
No
  • Listing ID: 17407757
  • Date Created: 10/9/2019
  • Last Updated:

About 2303 Smith St , Houston, TX 77006

Cushman & Wakefield is pleased to present Midtown Houston (the “Property”), a generational investment opportunity located in the heart of Midtown (the “District”), one of the fastest and most dynamic submarkets in the Houston MSA. The Property is one of Midtown’s most popular nightlife destinations, generating nearly 25% of all alcohol sales in the District (approximately $9 million). Midtown Houston is currently 95% leased to six high quality tenants in nearly 43,000 square feet of leasable area on just over an acre of land, providing a relatively low 0.9 floor area ratio (FAR). This is considerably lower than the new mid-to-high rise developments occurring in the District, which include 27 to 29 story residential high rises. This phenomenon has created a unique opportunity to capitalize on a low-density, cash-flowing asset in a high-density environment.

MAJOR TENANTS

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease End
  • 1-800-Lucky
  • -
  • 15,000 SF
  • -
  • -
  • 3rd Floor
  • -
  • 7,900 SF
  • -
  • -
  • Elevate Strength
  • -
  • 3,008 SF
  • -
  • -
  • Howl At The Moon
  • Retailers/Wholesalers
  • 6,500 SF
  • -
  • -
  • Pub Fiction
  • -
  • 8,383 SF
  • -
  • -
Tenant Industry SF Occupied Rent/SF Lease End
1-800-Lucky - 15,000 SF - -
3rd Floor - 7,900 SF - -
Elevate Strength - 3,008 SF - -
Howl At The Moon Retailers/Wholesalers 6,500 SF - -
Pub Fiction - 8,383 SF - -
Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (89)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Traffic

Collection Street Cross Street Traffic Volume Year Distance
Smith St Hadley St, NE 23,451 2014 0.03 mi
Louisiana St Hadley St, NE 25,692 2014 0.03 mi
Milam St - 13,375 2014 0.09 mi
Louisiana St - 20,660 2018 0.12 mi
Mc Ilhenny St Milam St, N 10,822 2013 0.13 mi
McGowen St Smith St, W 6,055 2018 0.13 mi
McGowen St Smith St, N 6,892 2018 0.15 mi
McGowen St Brazos St, SW 2,321 2018 0.15 mi
Webster St Brazos St, SE 8,263 2018 0.15 mi
Travis St Hadley St, N 20,949 2014 0.16 mi

Transportation

Transit/Subway

McGowen Transit Stop
Harris County Metropolitan Transit Authority METRO Rail
Redline
8 min walk 0.4 mi
Downtown Transit Center
Harris County Metropolitan Transit Authority METRO Rail
Redline
9 min walk 0.5 mi
Bell Transit Stop
Harris County Metropolitan Transit Authority METRO Rail
Redline
15 min walk 0.7 mi
Ensemble/HCC Transit Stop
Harris County Metropolitan Transit Authority METRO Rail
Redline
18 min walk 0.9 mi
Main Street Square Transit Stop
Harris County Metropolitan Transit Authority METRO Rail
Redline
20 min walk 1.0 mi

airplane iconAirport

William P. Hobby Airport
25 min drive 12.1 mi
Houston George Bush Intercontinental Airport
27 min drive 20.8 mi
Ellington Field Airport
38 min drive 22.0 mi

PROPERTY TAXES

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