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Vacant Former Maaco | Houston Infill Corridor | Value Creation Opportunity
INVESTMENT SUMMARY
Address 5625 Bellaire Blvd
City, State Houston, TX
Year Built 1950
Land Size (AC)
0.7348
Improvements (SF)
11,808 SF
Price $960,000
Price PSF (Land)
$30.00
69
610
69
1010
10
69
45
45
1056
6
159
36
36
10
60
60
99
99
288
35
6
6
3197
146
8
8
225
146
99
330
249
336
242
105
105
321146
770
326
770
61
65
105
290
290
90
90
90
90
59
59
59
HOUSTON
WASHINGTON
MAGNOLIA
HEMPSTEAD
WALLER
CYPRESS
JERSEY VILLAGE
ALDINE
HUMBLE
PORTER
NEW CANEY
CLEVELAND
ATASCOCITA
HUFFMANDAYTON
LIBERTY
SARATOGA
SOUR LAKE
CROSBY
MONT BELVIEU
HIGHLANDS
CHANNELVIEW
BAYTOWN
JACINTO CITY
GALENA PARK
BELLAIRE
MEADOWSPLACE
PECAN GROVE
MISSION BEND
RICHMOND
ROSENBERGEAST BERNARD
NEEDVILLE
WHARTON
ROSHARON
FRESNO
PEARLAND
FRIENDSWOODWEBSTER
SEABROOKKEMAH
BACLIFF
SAN LEON
DICKINSON
HITCHCOCK
TEXAS CITY
GOAT ISLAND
BOLIVARPENINSULA
SANTA FE
ALVIN
MANVEL
GREATWOOD
HUNTERSCREEK VILLAGE
DEER PARKPASADENA
SOUTH HOUSTON LA PORTE
BELLVILLE
SEALY BROOKSHIRE KATY
CINCO RANCH
PINEHURST
TOMBALL
THEWOODLANDS
SPRING
CONROE
SUGAR LAND
LEAGUE CITY
GALVESTON
George Bush Park
Trinity River NationalWildlife Refuge
Anahuac NationalWildlife Refuge
Trinity Bay
Galveston Bay
East Bay
5625 BELLAIRESubject Property
5625 BELLAIRE BLVD CBRE, INC.2
INVESTMENT HIGHLIGHTSUNIQUE VALUE CREATION OPPORTUNITYWith the purchase of this site, an investor can add significant value through lease up of more than 11,000 square feet.
HIGH BARRIERS TO ENTRYReal estate in this established area of Houston benefits from high barriers to entry for future competition. Insatiable demand and limited inventory have made it difficult to obtain existing improvements or developable land, as rents climb and vacancy remains low.
QUALIFIES FOR THE OPPORTUNITY ZONE PROGRAMThe Opportunity Zone Program is designed to spur economic development by providing significant future tax benefits to investors.
$105,873
828,477
12% INCREASE
AVERAGE HOUSEHOLD INCOME WITHIN A
3-MILE RADIUS
DAYTIME POPULATION WITHIN 5-MILE RADIUS
5-MILE RADIUS POPULATION GROWTH
SINCE 2010
DENSE RETAIL CORRIDORThere is nearly 22 million square feet of retail within a 3-mile radius of the Property, home to countless national credit tenants and major developments like The Galleria and Uptown Park.
OUTSTANDING DEMOGRAPHIC PROFILEThis Property is positioned in one of the most densely populated areas in Houston, with a daytime population of more than 828K within 5 miles. The area within a 3-mile radius is home to nearly 236K people, earning $105K annually, with home values exceeding $566K.
5625 BELLAIRE BLVD CBRE, INC.3
IMPROVEMENTS5625 Bellaire is a 11,808 square foot warehouse formerly operated by Maaco Collision Repair & Auto Painting. The soon to be vacant building sits on 0.74 acres in one of Houston’s most densely populated and highly sought-after retail submarkets.
PROPERTY DETAILS
LAND SIZE
Parcel # Legal Description Acreage
0370580220186 TRS 11B & 12C BLK 22 WESTMORELAND FARMS 0.4849
0370580220190 TR 12B BLK 22 WESTMORELAND FARMS 0.2499
Total: 0.7348
11,808 SIZE (SF)
1950 YEAR BUILT
28 PARKING SPACES
29,876 TRAFFIC COUNT
ZONINGThere are no zoning restrictions in Harris County.
INGRESS/EGRESSThe Property has five (5) primary access points, with three (3) of located along Bellaire Blvd. and the remaining two (2) are accessed from Alder Drive.
5625 Bellaire Blvd, Houston, TX 77081
ADDRESS
5625 BELLAIRE BLVD CBRE, INC.5
SITE PLAN
N
BELLAIRE BLVD - 28,261 VPD
ALD
ER D
R -
1,6
15 V
PD
5625 BELLAIRE BLVD CBRE, INC.7
DEMOGRAPHICS
1-MILE 3-MILE 5-MILE
Population
2019 Population - Current Year Estimate 39,424 235,076 555,145
2024 Population - Five Year Projection 41,352 248,804 590,584
2019 Daytime Population 36,148 304,798 828,477
2010-2019 Population Growth 7.7% 11.2% 11.9%
2019-2024 Population Growth 4.8% 5.7% 6.3%
Education
Bachelor`s Degree 14.9% 25.4% 26.3%
Graduate or Professional Degree 11.4% 21.7% 21.9%
Total 26.30% 47.10% 48.20%
Households
2019 Households - Current Year Estimate 12,778 92,992 231,344
2024 Households - Five Year Projection 13,360 98,281 246,438
2010-2019 Household Growth 6.7% 9.9% 11.7%
2019-2024 Household Growth 4.5% 5.6% 6.4%
Household Income
2019 Average Household Income $68,281 $105,873 $103,048
2024 Average Household Income $72,847 $115,393 $113,394
Home Value
2019 Average Home Value $713,842 $566,509 $597,587
Places of Work
2019 Businesses 2,099 16,954 38,478
2019 Employees 14,754 166,962 511,390
5625 BELLAIRE BLVD CBRE, INC.8
AFFILIATED BUSINESS DISCLOSURE
CBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).
CONFIDENTIALITY AGREEMENT
Your receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.
If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.
DISCLAIMER
This Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.
The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.
DISCLOSURE & AGREEMENT
DREW REINKINGAssociate713 577 [email protected]
MATT BERRYFirst Vice President713 577 [email protected]
jEFF STEINSenior Vice President & Co-head Houston DSF713 787 1906 [email protected]
CBRE CONTACTS
DEBT & EQUITY FINANCE EXPERT
ROBBIE KILCREASEVice President713 577 [email protected]
LAUREN MCGINNITYTransaction Analyst713 577 [email protected]
