THE GALLERIA | 2.4 MILLION SF
WESTHEIMER ROAD 60,922 VPD
2400 McCue ALMI Uptown Dominion Condominiums 238 Units Plantation SAGE RD Post Oak Apartments 230 Units 192 Units SITE Carriage Square ±0.91 Acres
Montierra 346 Units
MCCUE ROAD
Marquee Uptown | ±1.82 Acres Contact Glenn Dickerson For Information
GUILFORD CT
OFFERING MEMORANDUM
CARRIAGE SQUARE 2320 MCCUE RD | HOUSTON, TX 77056 Glenn Dickerson Vice President Land Brokerage
[email protected] 281.477.4384 LAND BROKERAGE AERIAL VIEW
GABLES TANGLEWOOD
SITE
2 AERIAL VIEW Camden Post Oak 356 Units Aspire Four Leaf Towers Hanover Post Oak Condominiums Post Oak 351 Units 355 Units
Dominion Post Oak 230 Units St. Michael Catholic School
MCCUE ROAD Montecito 299 Units
ALMI Uptown 238 Units
Marquee Uptown | ±1.82 Acres Contact Glenn Dickerson For Information
2400 McCue Condominiums SITE Carriage Square ±0.91ACRES
3 AERIAL VIEW
THE GALLERIA | 2.4 MILLION SF
WESTHEIMER ROAD 60,922 VPD
2400 McCue Plantation ALMI Uptown Condominiums Apartments Dominion 238 Units 192 Units Post Oak 230 Units SITE Carriage Square ±0.91 Acres
Montierra 346 Units
MCCUE ROAD
GUILFORD CT Marquee Uptown | ±1.82 Acres Contact Glenn Dickerson For Information
4 Houston CBD AERIAL VIEW
Dominion Post Oak POST OAK BLVD 230 Units
ALMI Uptown 238 Units
Montecito 299 Units MCCUE ROAD
2400 McCue SITE Condominiums
Marquee Uptown | ±1.82 Acres Contact Glenn Dickerson For Information
Montierra 346 Units
Plantation Apartments 192 Units
5 PROPERTY PHOTOS
6 PROPERTY PHOTOS
7 EXECUTIVE SUMMARY
• 40-unit apartment project on ±0.91 acres within walking 2320 MCCUE ROAD | CARRIAGE SQUARE APARTMENTS distance to the Galleria Mall with an estimated 30 million 2320 McCue Road ADDRESS visitors each year.* Houston, Texas 77056
• The asset has been renovated within the last ±8 years and PRICE Contact Broker for Pricing maintains a high rate of occupancy due to its location within the Uptown District. LAND AREA ±0.91 Acres
• Dense daytime population with high average household ZONING Residential incomes of over $94,000 within a 5-mile radius.
• Future uses for the property include senior living or a multi- family development.
• The ±1.82-acre apartment project adjacent immediately to the south is also available for sale by the same owner.
• One or both tracts can be purchased for a total of 2.73 acres.
*Simon Property Group, 2020
8 INVESTMENT HIGHLIGHTS
RARE VINTAGE APARTMENT ASSET HIGH INCOME NEIGHBORHOODS PROMINENT LOCATION The asset has been renovated within the Located in the heart of the Galleria/Uptown 0.91-acre site within walking distance to last 5 years and maintains a high rate of trade area with 187,000+ population and the Galleria, the center of Houston’s prime occupancy due to its location within the above average household income of daytime shopper and commuter area. Uptown District. $154,000 within a 3-mile radius.
9 PROPERTY DETAILS
2020 TAX RATES
ADDRESS 2306 McCue Rd, Houston, TX 001 Houston ISD 1.1331 040 Harris County 0.39116 LATITUDE, LONGITUDE 29.743803, -95.464810 041 Harris County Flood Control 0.03142 TOTAL ACRES ±0.91 Acres 042 Port of Houston Authority 0.00991
FRONTAGE (APPROX.) 145.8 ft. on McCue Rd 043 Harris County Hospital District 0.16671
UTILITIES City of Houston 044 Harris County Educucation Dept 0.004993 048 Houston Community College 0.100263 SCHOOL DISTRICT Houston ISD 061 City of Houston 0.56184 IMPROVEMENTS 40 Apartment Units TOTAL 2.399396 YEAR BUILT 1960
2020 DEMOGRAPHICS 1 MILE 3 MILES 5 MILES ADDITIONAL PROPERTY DETAILS 2020 Estimated Population 29,242 197,998 538,691 PARCEL ID 0451400060146 Est. Population Growth 36% 20% 21% 2010-2020 OWNER McCue Road Properties, LLC Average Household Income $160,187 $154,270 $147,013 PROPERTY 2306 McCue Rd | Houston, TX 77056 % Renter-Occupied Housing 63% 63% 59% Units
LEGAL TRS 15A & 42 ABST 836 W WHITE MEDIAN PRICING Contact Broker for Pricing HOUSEHOLD INCOME 1 MILE 3 MILES 5 MILES 2025 Projected Median HHI $131,551 $111,169 $108,359
2020 Estimated Median HHI $110,962 $97,338 $94,434
Due Diligence Information 2010 Census Median HHI $81,133 $77,025 $72,211
To access the due diligence information please contact 2000 Census Median HHI $71,500 $65,095 $57,906 Glenn Dickerson.
PLEASE DO NOT DISTURB TENANT 10 FORT WORTH TEXAS OVERVIEW #1 In U.S. job growth market | 2020 #2 Top-moving destination | 2019 #4 Fastest-growing city in the nation Leads the country in employment and population growth | 2020 FORTUNE 500 RECESSION PROOF RANKED AMONG TOP COMPANIES DALLAS 95 CALL TEXAS HOME RECESSION-PROOF STATES IN AMERICA #6 Fastest-growing housing market | 2020 21 Fortune 500 companies 300 Corporate headquarters POPULATION 8,300 Californians move in area yearly ND 2 LARGEST Top 10 Hottest Job Markets | 2019 28,995,881 STATE ECONOMY IN THE U.S.A. HOUSTON #1 JOBS CREATOR #1 for Corporate Moves | 2020 #2 in Business Expansion | 2015-2020 IN THE NATION #3 in the World in “Cities of the Future” 342,800 JOBS #1 STATE FOR Analysis | 2020 ADDED IN 2019 1 BUSINESS CLIMATE #5 Best Places to Live in Texas | 2020 Most Diverse City in the Nation BUSINESS FACILITIES 23 Fortune 500 Companies #1 STATE IN MAGAZINE | 2020 Over 5M SF of industrial space opened or AMERICA secured by Amazon since 2018 TO START A BUSINESS AUSTIN #1 Fastest-growing major metro | 2020 BEST STATE #1 Best city to start a business | 2020 TOP STATE FOR FOR BUSINESS #2 Best city for young professionals | 2020 15TH YEAR IN A ROW #3 Fastest-growing city in the nation GROWTH Best place to live in the U.S. for the 14+ MILLION WORKERS 3rd year in a row | 2020 374,000 NEW RESIDENTS | 2020 Record-breaking $17.5B in Residential LARGEST Closings | 2020 NO STATE MEDICAL CENTER SAN ANTONIO 2ND LARGEST CANCER CENTER #2 Fastest-growing city in the nation INCOME TAX MD ANDERSON, HOUSTON #4 Best places to live in Texas | 2020 #34 Best places to live in America
66% OF THE POPULATION LIVES WITHIN NAMED THE #1 CORPORATE MOVE DESTINATION THE TEXAS TRIANGLE OF DALLAS, FOR THE 6TH YEAR IN A ROW HOUSTON, SAN ANTONIO, AND AUSTIN
SOURCES: OFFICE OF THE GOVERNOR - ED, US CENSUS BUREAU, AND FORBES ; ADDITIONAL RESOURCES AVAILABLE UPON REQUEST WHY HOUSTON
POPULATION & DEMOGRAPHICS • 7,233,951 POPULATON IN THE HOUSTON MSA • THE 4TH MOST-POPULOUS CITY IN THE NATION • HOUSTON HAS NO ETHNIC MAJORITY AND TODAY REPRESENTS THE RACIAL MAKEUP OF THE U.S FORTY YEARS FROM NOW
NATIONAL & GLOBAL CONNECTIONS • 5,000+ HOUSTON-BASED BUSINESS OPERATE INTERNATIONALLY • $237 BILLION IN TRADE THROUGH HOUSTON’S CUSTOMS DISTRICTS • THE PORT OF HOUSTON IS THE LARGEST GULF COAST CONTAINER PORT
BUSINESS & ECONOMY • 7TH LARGEST METRO ECONOMY IN THE NATION • 27TH-LARGEST ECONOMY IN THE WORLD (MORE THAN THE COUNTRY OF AUSTRIA) • 23 FORTUNE 500 COMPANIES LOCATED IN HOUSTON (#4 AMONG US CITIES) • OVER 5M SF OF INDUSTRIAL SPACE OPENED OR SECURED BY AMAZON SINCE 2018 • RANKED NO. 1 CITY FOR CORPORATE MOVES IN 2020 • RANKED NO. 2 ON U-HAUL’S ANNUAL LIST OF THE HOTTEST STATES FOR WHERE PEOPLE ARE MOVING FOR THE SECOND YEAR IN A ROW • THE HOUSTON ECONOMY IS BIGGER THAN THE ECONOMIES OF THIRTY-ONE STATES, AND IS GROWING IN 2021
THE TEXAS MEDICAL CENTER • THE LARGEST MEDICAL COMPLEX IN THE WORLD • VISITED BY 10 MILLION PATIENTS WITH APPROXIMATELY 180,000+ PROCEDURES PERFORMED ANNUALLY • 50 MILLION SF OF WORLD-CLASS HOSPITALS, RESEARCH FACILITIES, AND EDUCATIONAL INSTITUTIONS
QUALITY OF LIFE • OVER 500 INSTITUTIONS DEDICATED TO ART/PERFORMANCE/HISTORY • THE HOUSTON MUSEUM DISTRICT IS ONE OF THE LARGEST IN THE COUNTRY WITH OVER 20 MUSEUMS • HOME TO OVER 60 HIGHER-EDUCATION INSTITUTIONS, INCLUDING TIER 1 SCHOOLS RICE UNIVERSITY, UNIVERSITY OF HOUSTON, AND TEXAS A&M • HOME TO MORE THAN 10,000 RESTAURANTS SHOWCASING MORE THAN 75 TYPES OF CUISINE • ONE OF ONLY A HANDFUL OF US CITIES WITH ALL FOUR MAJOR ARTISTIC COMPANIES IN RESIDENCE: THE HOUSTON BALLET, THE HOUSTON GRAND OPERA, THE ALLEY THEATER, AND THE HOUSTON SYMPHONY
SOURCES: THE GREATER HOUSTON PARTNERSHIP AND VISIT HOUSTON
12 LOCATION HIGHLIGHTS
As the fourth most populous metro area in the U.S., Houston houses roughly 7.2 million people in southeastern Texas. The market is composed of nine counties: Harris, Galveston, Brazoria, Fort Bend, Chambers, Montgomery, Austin, Liberty and Waller. The Gulf of Mexico, which borders the metro to the southeast, provides access to markets around the world via the Port of Houston, making it a prime location for exports. Local industries have diversified from oil to technology and healthcare. Many companies provide goods and services for the large population growth, which has sprawled, primarily to the north and west. The city of Houston is the largest in the metro with 2.3 million residents.
METRO HIGHLIGHTS
CORPORATE GROWTH Houston will remain a top destination for corporate relocations due to its business-friendly environment. More than 23 Fortune 500 companies are headquartered in the metro.
HIGHER EDUCATION Over 40 post-secondary educational institutions are located in the metro. Nearly 31 percent of residents have attained a bachelor’s degree, with 11 percent also holding a graduate or professional degree.
LOW COST OF LIVING, DOING BUSINESS Houston has a lower cost of living than many major metros, no state income tax and a median home price below the national level.
13 LOCATION DEMOGRAPHICS
POPULATION 1 MILE 3 MILES 5 MILES
HOUSTON, TEXAS 77056 - 5 MILE RADIUS 2025 Projected Population 27,241 196,648 534,454
2020 Estimated Population 26,265 187,232 510,462
POPULATION HOUSEHOLDS 2010 Census Population 20,531 165,775 451,377 510,462 239,725 2000 Census Population 17,131 151,973 420,141
MEDIAN AGE MEDIAN INCOME HOUSEHOLDS 1 MILE 3 MILES 5 MILES 35.2 $94,434 2025 Projected Households 17,343 98,010 255,706 2020 Estimated Households 16,426 91,888 239,725
2010 Census Households 12,147 77,860 203,211
0-19 YEARS 20-64 YEARS 65+ YEARS 2000 Census Households 10,153 73,211 188,819
2020 Total Occupied Units 16,426 91,888 239,725 23.3% 64.4% 12.3%
2020 POPULATION BY AGE HOUSEHOLDS BY INCOME 1 MILE 3 MILES 5 MILES
$150,000 or More 32.1% 26.2% 26.1% MAJOR AREA EMPLOYERS LARGEST EMPLOYERS IN TEXAS $100,000 to $149,000 19.7% 13.5% 13.2% AT&T $75,000 to $99,999 8.0% 5.4% 5.6% Keller Williams $50,000 to $74,999 12.0% 11.3% 10.7% American Airlines $35,000 to $49,999 7.2% 9.6% 10.2% Livestock Investors Ltd Under $35,000 15.1% 23.7% 24.5%
Tenet Healthcare Average Household $161,319 $154,196 $147,128 Income JCPenney Median Household $110,962 $97,338 $94,434 Dell Income
Schlumberger Per Capita Income $100,909 $75,707 $69,171
H-E-B Foods
14 LOCATION POPULATION GROWTH DEMOGRAPHICS 2010–2020 2.8% 1-MILE RADIUS
HOUSTON, TEXAS 77056 1.3% 3-MILE RADIUS
1.3% 5-MILE RADIUS
HOUSEHOLDS BY EXPENDITURE 1 MILE 3 MILES 5 MILES POPULATION PROFILE 1 MILES 3 MILES 5 MILES Total Monthly Retail 2020 Estimated $8,438 $8,099 $7,793 26,265 187,232 510,462 Expenditures Total Population
Consumer Expenditure Top 10 Categories Under 20 3,715 41,344 118,955
Shelter $1,802 $1,724 $1,659 20 to 34 Years 7,989 52,039 136,610
Transportation $1,498 $1,437 $1,385 35 to 39 Years 2,183 15,103 40,447
Food and Beverages $1,213 $1,166 $1,124 40 to 49 Years 3,276 23,911 65,883
Health Care $673 $648 $625 50 to 64 Years 4,853 31,177 85,862
Utilities $575 $557 $538 Age 65+ 4,249 23,658 62,705
Entertainment $488 $468 $449 Median Age 38.5 35.7 35.2
Household Operations $341 $327 $314 Population 25+ by Education 20,872 132,612 354,568
Apparel $304 $292 $281 Elementary (0 to 8) 355 10,658 26,211
Furnishings and Equipment $301 $288 $277 Some High School (9 to 11) 297 4,548 14,036 High School Graduate (12) 1,574 16,410 48,342
Some College (13-15) 2,639 16,484 45,833
Associate Degree Only 852 5,827 16,457
Bachelor Degree Only 8,951 43,938 110,089
Graduate Degree 6,204 34,748 93,601
15 LOCATION DEMOGRAPHICS
RACE & ETHNICITY
The current year racial makeup of your selected area is as follows: 61.0% White, 12.5% Black, 0.7% Native American and 10%Asian/Pacific Islander. Compare these to US averages which are: 70.20% White, 12.89% Black, 0.19% Native American and 5.59% Asian/Pacific Islander. People of Hispanic POPULATION origin are counted independently of race. People of Hispanic origin make up In 2020 the population in your selected geography is 510,462. 39.5% of the current year population in your selected area. Compare this to The population has changed by 3.0% since 2000. It is estimated the US average of 18.01%. that the population in your area will be 534,454 five years from now, which represents a change of 0.9% from the current year. The current INCOME population is 49.1% female and 50.9% male. The median age of the In 2020 the median household income for your selected geography is population in your area is 35.2 compare this to the US average which $94,434; compare this to the US average which is currently $68,703. is 38.4. The population density in your area is 6,502 people per The median household income for your area has changed by 3.2% since square mile. 2000. It is estimated that the median household income in your area will be $108,359 five years from now, which represents a change of 2.9% from HOUSEHOLDS the current year. The current year per capita income in your area is $69,171; There are currently239,725 households in your selected geography. compare this to the US average, which is $35,977. The current year average The number of households has changed by 1.3% since 2000. It is estimated household income in your area is $147,128; compare this to the US average that the number of households in your area will be 255,706 five years from which is $61,372. now, which represents a change of 1.3% from the current year. The average household size in your area is 2.1 persons. EMPLOYMENT
In 2020, there are 508,564 employees in your selected area, this is also HOUSING known as the daytime population. 2020 demographic studies revealed The median housing value in your area was $548,174 in 2020, compare this that 68.7% of employees are employed in white-collar occupations in to the US average of $201,842. In 2020, there were 91,600 owner occupied this geography, and 31.3% are employed in blue-collar occupations. housing units in your area and there were 148,126 renter occupied housing Unemployment in this area is 6.8%. The average time traveled to work units in your area. The median rent at the time is $1,063. is 22.5 minutes.
16 MEET THE TEAM
GLENN DICKERSON Vice President Land Brokerage [email protected] 281.477.4384
CONTACT BROKER FOR DUE DILLIGENCE INFORMATION NON-ENDORSEMENT AND DISCLAIMER NOTICE
CONFIDENTIALITY AND DISCLAIMER The information contained in the following marketing brochure is proprietary and strictly confidential. It is intended to be reviewed only buy the party receiving it from NewQuest Properties and should not be made available to any other person or entity without the written consent of NewQuest Properties. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. NewQuest Properties has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size square footage of the property and improvements, presence or absence of contaminating substances, PCB‘s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenants plans or intentions to continue it’s occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, NewQuest Properties has not verified, and will not verify, any of the information contained herein, nor has NewQuest Properties conducted any investigation regarding these matters and makes no warrantee or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all the information set forth herein. NewQuest Properties is a service mark of NewQuest Properties Real Estate Investment Services, Inc. © 2019 NewQuest Properties. All rights reserved. THE TEXAS REAL ESTATE COMMISSION (TREC) REGULATES REAL ESTATE BROKERS AND SALES AGENTS, REAL ESTATE INSPECTORS,HOME WARRANTY COMPANIES, EASEMENT AND RIGHT-OF-WAY AGENTS AND TIMESHARE INTEREST PROVIDERS. YOU CAN FIND MORE INFORMATION AND CHECK THE STATUS OF A LICENSE HOLDER AT WWW.TREC.TEXAS.GOV. YOU CAN SEND A COMPLAINT AGAINST A LICENSE HOLDER TO TREC. A COMPLAINT FORM IS AVAILABLE ON THE TREC WEBSITE. TREC ADMINISTERS TWO RECOVERY FUNDS WHICH MAY BE USED TO SATISFY A CIVIL COURT JUDGMENT AGAINST A BROKER, SALES AGENT, REAL ESTATE INSPECTOR, OR EASEMENT OR RIGHT-OF-WAY AGENT, IF CERTAIN REQUIREMENTS ARE MET. IF YOU HAVE QUESTIONS OR ISSUES ABOUT THE ACTIVITIES OF A LICENSE HOLDER, THE COMPLAINT PROCESS OR THE RECOVERY FUNDS, PLEASE VISIT THE WEBSITE OR CONTACT TREC AT: TEXAS REAL ESTATE COMMISSION P.O. BOX 12188 AUSTIN, TEXAS 78711-2188 512.936.3000
NON-ENDORSEMENT NOTICE NewQuest Properties is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of NewQuest Properties, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of NewQuest Properties, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR NEWQUEST PROPERTIES AGENT FOR MORE DETAILS.
Rev. 02.24.21 tw