1110 W Gray
Prime Urban Infill Location | Class A Medical-Retail Offering
Marketing description
Built in 1972 and renovations completed in 2020, Reve at Montrose, located at 1110 W Gray in the heart of Montrose, is an excellent opportunity to acquire a 100% occupied medical retail site with a diverse tenant mix. The property is a two-story building, comprised of 17,230 SF and sits on 33,976 SF of land. With significant frontage on both W Gray and Montrose Boulevard, the center is in close proximity to significant class A multi-family developments, the Texas Medical Center, and Midtown.
Tenants include a state-of-the-art 24 Hour Montrose Emergency Center which comprises 63% GLA. The other 37% is occupied by Arike Aesthetics and Restore Dental. For more information, please use this link: 1110WestGraySale.com
Investment highlights
Property is 100% occupied by three high-quality medical tenants for essential healthcare services (emergency care, plastic/aesthetic surgery, and restorative dentistry).
Houston Landmark Benefits (Designated 2022) + Unhindered Use – As a City of Houston Landmark, the property qualifies for:
Historic Tax Exemption — City property taxes on improvements are exempted (or credited back annually to the landlord only), not passed to tenants, boosting NOI, yield, and cash flow.
40% Parking Reduction — Reduced parking requirements under city rules, lowering development/operational costs and enhancing efficiency.
While the Property receives these historic tax and parking benefits, it is not a Protected Landmark and is not historically protected, leaving the option for future redevelopment if desired. These landlord-exclusive incentives support historic recognition while delivering strong financial advantages and preserving full redevelopment flexibility.
Prime Montrose Location with Excellent Visibility & Access –Situated at high traffic corner of W Gray St. and Montrose Boulevard (~34,249 VCPD), the property benefits from Montrose’s vibrant, walkable, and urban neighborhood.
Montrose Area has seen substantial multi-family development over the past 5 years. There now exists a multitude of class A luxury high rises in the immediate area, leading to wealthy residents relocating to the central corridor.
Anchored by 24 Hour Montrose Emergency Center, the area benefits from being only one of three 24-hour emergency rooms within a 3-mile radius supporting the local population.
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