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23281305
23281306

2303 Smith Street, Houston, TX 77006

JL
TX 825925
Matthews
SA
AZ BR663663000
Matthews
Listed by Matthews
$10,999,000
393 days on market
Updated 27 days ago

MIDTOWN ENTERTAINMENT

Details
Property Type Retail
Sub Type Entertainment
Square Footage 45,000
Net Rentable (SqFt) 42,970
NOI $743,770
Price per SqFt $256

Retail | 0.00% CAP | 45,000 SqFt

Investment highlights

Top-Tier MSA Performance
Houston continues to be a leading U.S. city for real estate investment, bolstered by robust job growth and a cost of living below the average of the top 20 metropolitan statistical areas (MSAs).

Prime Entertainment & Nightlife Hub
Midtown Houston remains a central hub for entertainment and nightlife, attracting significant patronage and contributing notably to the area's vibrant social scene.

Exceptional Access & Visibility
Strategically located between Louisiana St. and Smith St., the property enjoys exposure to over 50,000 vehicles daily. It's also within a 5-minute walk to the Metro, providing direct access to major employment and educational centers, including the expansive Texas Medical Center, which spans approximately 4.93 square miles and employs over 106,000 individuals.

Booming Residential Growth
Midtown has experienced substantial residential growth, with the multifamily inventory expanding significantly since 2014. The area continues to attract development, reflecting its appeal among residents seeking proximity to employment hubs and urban amenities.

Covered Land / Redevelopment
The property is currently leased by a few bar operators but has future possibilities for redevelopment and existing structures in very good condition

Houston’s Premier Walkable Urban Core
Midtown boasts a Walk Score of 86, classifying it as "Very Walkable," meaning most errands can be accomplished on foot. The area also has excellent public transportation options and is considered very bikeable, enhancing its appeal to residents and visitors seeking a pedestrian-friendly environment.

Affluent, Young Demographic
The neighborhood continues to attract high-earning young professionals drawn to its vibrant lifestyle offerings. This demographic trend supports strong demand for residential, retail, and entertainment venues within Midtown.

New Long-Term Leases Secured
Recent lease agreements with prominent entertainment adds to property's appeal and contribute to its long-term income stability.

Grocery-Shadow Anchored Advantage
Situated directly across Spec’s which is one of Midtown’s busiest grocery stores, the property benefits from consistent foot traffic and the convenience of nearby essential retail services.

Listing Contacts

JL
TX 825925
Matthews
SA
AZ BR663663000
Matthews
Listed by Matthews

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$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$743,770.00
$61,980.83/mo

Valuation Metrics

0
DSCR
6.76%
Cap Rate
6.76%
ROI

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Additional Information

Name
Patrick Graham
License
528005, 9005919 (TX)
Brokerage
Matthews Real Estate Investment Services, Inc
Title
Broker of Record
Brokerage Address
2699 Howell St., Suite 400, Dallas, TX 75204
Name
Joshua Longoria
License
825925
Brokerage
Matthews Real Estate
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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