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510 Gray St
Houston, TX 77002
Auction - Midtown Crossing | $309K NOI · Retail Property For Sale
Investment Highlights
- STARTING BID $1,000,000 | 52K VPD | $309K NOI (Leasehold Interest) | AUCTION NOVEMBER 14-16, 2022
- ±31-Years of Term and Options Remaining on Ground Lease | In Place NOI = $309K
- Strong Demographics with 5-Mile Population of ±485,718 and Annual Household Income of ±$109,524
- 100% Occupied Retail Center Anchored by Buffalo Wild Wings and Gyu Kaku, Each with Over $2M Store Sales
- Located at Four Signalized Corners | +52,000 Vehicles Per Day; Two-Blocks from I-45 (+224,000 VPD)
- Tremendous 23% Growth from 2010-2022 and 5% Growth Thru 2027 Anticipated (5-Mile Radius)
Property Facts
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,788 SF
Building Class
B
Year Built
2004
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Lot Size
1.25 AC
Zoning
Commercial - Land Use Designation: Commercial (No Zoning Code)
Parking
61 Spaces (4.12 Spaces per 1,000 SF Leased)
Frontage
228’ on Gray St
Amenities
- Corner Lot
- Dedicated Turn Lane
- Restaurant
- Signage
- Signalized Intersection
- Air Conditioning
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,141,515 | |
| Land Assessment | $4,076,400 | Total Assessment | $6,217,915 |
Property Taxes
Parcel Numbers
Land Assessment
$4,076,400
Improvements Assessment
$2,141,515
Total Assessment
$6,217,915
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