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MIDTOWN ENTERTAINMENT 2303 Smith St 23,373 SF 100% Leased Retail Building Houston, TX 77006 $10,999,000 ($470.59/SF) 6.76% Cap Rate
Investment Highlights
- Situated directly across Spec’s which is one of Midtown’s busiest grocery stores
- Midtown boasts a Walk Score of 86, classifying it as "Very Walkable," meaning most errands can be accomplished on foot
- New Long-Term Leases Secured
- The property is currently leased by a few bar operators but has future possibilities for redevelopment
Executive Summary
Patrick Graham
License No. 9005919 (TX)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
8300 Douglas Ave.,
Ste. 750, Dallas, TX 75225
License No. 9005919 (TX)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
8300 Douglas Ave.,
Ste. 750, Dallas, TX 75225
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
23,373 SF
Building Class
B
Year Built
2010
Price
$10,999,000
Price Per SF
$470.59
Cap Rate
6.76%
NOI
$743,000
Percent Leased
100%
Building Height
3 Stories
Building FAR
0.93
Lot Size
0.58 AC
Exceptionally walkable
90/100
Moderately drivable
60/100
Strong public transit
80/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0081910000001 | Improvements Assessment | $2,088,839 |
| Land Assessment | $1,875,000 | Total Assessment | $3,963,839 |
Property Taxes
Parcel Number
0081910000001
Land Assessment
$1,875,000
Improvements Assessment
$2,088,839
Total Assessment
$3,963,839
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