Post on 07-Jun-2022
DOWNTOWN HOUSTON0.75 mi
PEDEN STW G
RAY
ST
TAFT
ST
TAFT ST
W DALLAS ST
±31,200 SF
Barnaby’s Cafe Midtown Bar & Grill
Ship & Shield
Carnegie VanguardHigh School
Gregory-LincolnEducation Center
MONTROSEAvg Home Price $700K
MIDTOWN • 0.5 MILEAvg Home Price $371K
DOWNTOWN HOUSTON0.75 mi
PEDEN STW G
RAY
ST
TAFT
ST
TAFT ST
W DALLAS ST
±31,200 SF
Barnaby’s Cafe Midtown Bar & Grill
Ship & Shield
Carnegie VanguardHigh School
Gregory-LincolnEducation Center
MONTROSEAvg Home Price $700K
MIDTOWN • 0.5 MILEAvg Home Price $371K
±31,200 SF on West Gray Houston, Texas
O F F E R I N G M E M O R A N D U M
www.dmreland.com
Tim DoschPrincipaltim.dosch@dmreland.comO 713-955-3127M 713-459-8123
David MarshallPrincipaldavid.marshall@dmreland.comO 713-955-3126M 713-206-1574
Tom DoschPrincipaltom.dosch@dmreland.comO 713-955-3125M 713-557-4455
Clark DaltonAssociateclark.dalton@dmreland.comO 713-955-3122M 832-449-2223
Becky HandAssociatebecky.hand@dmreland.comO 713-955-3121M 918-629-5592
Dillon MillsAssociatedillon.mills@dmreland.comO 713-955-3123M 713-254-3824
Tripp RichAnalysttripp.rich@dmreland.comO 713-955-3124M 936-635-6968
Jane MatsellGraphic Designer
Contacts, Due Diligence, & Offer Requirements
Dosch Marshall Real Estate713.955.2120
777 Post Oak Blvd Houston, TX 77056
www.dmreland.com
Exclusive RepresentationDosch Marshall Real Estate (DMRE) has been exclusively retained to represent the Seller in the disposition of ±31,200 SF on West Gray in Houston, TX (Property). All inquiries about the Property should be directed to DMRE.
Due Diligence InformationTo access the due diligence information please visit the Property website at: www.dmreland.com
Offer RequirementsOffers should be presented in the form of a non-bind-ing Letter of Intent, and should include:
• Pricing• Due Diligence and Closing Timeframe• Earnest Money Deposit• Description of Debt/Equity Structure• Qualifications to Close• Development Plans
Purchase terms shall require cash to be paid at clos-ing. Offers should be delivered to the attention of Tim Dosch, David Marshall, Tom Dosch, or Becky Hand via fax or email.
±31,200 SF ON WEST GRAY 2
www.dmreland.comProperty Information
Property Details
ADDRESS 511 W Gray St Apt 4 Houston, TX 77019507 W Gray St # 4 Houston, TX 77019505 W Gray St Apt 4 Houston, TX 77019419 W Gray St Houston, TX 77019508 Peden St Houston, TX 77006
LAT., LONG. 29.753029, -95.387489
TOTAL SF 31,200 SF
APPROX. FRONTAGE 290 ft on West Gray St; 50ft on Peden St
PARCEL ID 0560540000007, 0560540000008, 0560540000009, 0560540000010, 0541750000008
UTILITIES City of Houston
SCHOOL DISTRICT Houston ISD
REVENUE 2016 net revenue from rental operations: $55,000
2017 Tax Rates
1 HOUSTON ISD 1.206700
40 HARRIS COUNTY 0.416560
41 HARRIS CO FLOOD CNTRL 0.028290
42 PORT OF HOUSTON AUTHY 0.013340
43 HARRIS CO HOSP DIST 0.171790
44 HARRIS CO EDUC DEPT 0.005200
48 HOU COMMUNITY COLLEGE 0.100263
61 CITY OF HOUSTON 0.586420
930 HC ID 6 0.125000
Total 2.653563
2017 Demographics
0-1 mi 0-3 mile 0-5 miles
EST. POPULATION 30,585 190,546 453,852
5-YR EST. POPULATION GROWTH 12.4% 10.1% 9.1%
HOUSEHOLDS WITH INCOME EXCEEDING $74,999
52.3% 50.0% 44.9%
EST. MEDIAN HOUSING VALUES $332,538 $364,825 330,312
±31,200 SF ON WEST GRAY 3
MONTROSEAvg Home Price $700K
MONTROSE BLVD
WAUGH DR
STANFORD STPE
DEN
ST
W GRAY ST
The Royalton3333 Allen Pkwy
Upper Kirby (2 miles)
Inversion Coffee & ArtTexas Art Supply
Galleria/Uptown (4.5 miles)
River Oaks Plaza (0.7 miles)
RIVER OAKS
PJ’s Sports Bar
Pink’s Pizza
Wharton Elementary
HYDE PARKHome Values up to $996K
Cecil’s Pub
±31,200 SF
4±31,200 SF ON WEST GRAY
www.dmreland.com
W GRAY ST
PEDEN ST
STANFORD ST
TAFT ST
PJ’s Sports BarPink’s Pizza Cecil’s Pub Barnaby’s Cafe
Gregory-Lincoln Education Center
Carnegie VanguardHigh School
Midtown Bar & Grill
HOME VALUESUp to $999K
ALLEN PKWY
STUDEMONT ST
Buffalo Bayou
Washington Corridor (1.2 mi)-
hood retail includes a 215,000-square-foot Wal-Mart-anchored retail center and a Target-anchored retail center. Trendy eateries and nightlife desti-nations include Benjy’s, Darkhorse Tavern, Ei8ht, El Rey Taqueria, Max’s Wine Dive, Nox, Kung Fu Saloon, Bubba’s Sportsbar & Grill, Laurenzo’s, Diem Lounge, Liberty Station, Sanctuary Lounge, The Counter, El Tiempo Cantina, Rebels Honky Tonk, Porch Swing Pub, Catalina Coffee, 360 Sports Lounge, Luke’s Ice House, Underdogs Pub, The Blue Fish, Coppa Ristorante Italiano, and Molina’s Cantina.
±31,200 SF
±31,200 SF ON WEST GRAY 5
PJ’s Sports BarCecil’s Pub
Memorial by Windsor1929 Allen Pkwy
Barnaby’s Cafe
Midtown Bar & GrillW GRAY ST
PEDEN ST
±31,200 SF
~50 ft
6±31,200 SF ON WEST GRAY
www.dmreland.com
PEDEN ST
WESTHEIMER RD
W GRAY ST
±31,200 SF
Texas Medical Center (2.5 mi)
Museum District (1.5 mi)
Hanover Montrose
MONTROSEAvg Home Price $700K Westheimer & Montrose (0.6 miles)
Half Price BooksBBs CafeAladdin Mediterranean Southside EspressoRosemontTheos369 Oriental BistroBlacksmith
±31,200 SF ON WEST GRAY 7
www.dmreland.com
MONTROSE
MIDTOWN
DOWNTOWN HOUSTON
PEDEN STW G
RAY
ST
±31,200 SF
Barnaby’s Cafe Midtown Bar & Grill
Ship & Shield
Carnegie VanguardHigh School
TAFT ST
Employment• Over 150,000 employees• Over 3,000 businesses and 50.4 million SF office space • Class A office occupancy at 85.6%• Hosts 20 of Houston’s 26 Fortune 500 companies; 9 have their
headquarters in Downtown Houston
Entertainment & Attractions• Over ten million people visit Downtown annually for conventions,
meetings, baseball and basketball games, theater, concerts and civic events
• 22 hotels and 7,300 hotel rooms• 9 major performing arts organizations• 2 million SF retail space• Over 300 restaurants, coffee shops, and bars, including the
renowned Xochi, Potente and Local Foods• Phoenicia Specialty Foods: 35,000-square-foot gourmet food mar-
ket featuring over 10,000 products from more than 50 countries• Toyota Center: Home of the NBA’s Houston Rockets• Minute Maid Park: Home of the Houston Astros and Houston Aeros
GreenStreet• Three block mixed-use shopping, entertainment and dining center• 16,000 square feet of open-air retail• House of Blues, Lucky Strike Lanes, McCormick & Schmicks and
local eatery Guadalajara del Centro
Houston Theater District• 17-block cultural and entertainment center• Second largest performing arts district in the U.S. next to Broadway
in New York City• 13,000 theater district seats
George R Brown Convention Center• 1.9 million SF• $253 million economic impact
Discovery Green Park• Two-acre picnic lawn with one-acre lake, jogging trail, performance
stage, two dog parks, and multiple gardens
Top Employers
Employer # Employees
Chevron 8,600
Shell Oil Company 7,000
Chase Bank 4,892
CenterPoint Energy 3,826
KBR 2,958
NRG/Reliant Energy 2,300
ExxonMobil Corporation 2,200
Hess 2,000
Kinder Morgan 1,860
Deloitte 1,700
Enterprise Products Partners 1,360
Ernst & Young 1,300
Waste Management, Inc. 1,270
PriceWaterhouseCoopers 1,236
LyondellBasell Industries 1,200
Houston Central Business District
GEORGE R BROWN CONVENTION CENTER
THEATER DISTRICT
Less than one mile from the Property
±31,200 SF ON WEST GRAY 8
www.dmreland.comMontrose
Montrose is home to 18 of the 2016 Houston Press Top 100 Restaurants
Hugo’s (#2)The Pass & Provisions (#3)BCN Taste & Tradition (#4)Pax Americana (#6)Underbelly (#12)Da Marco (#17)Uchi (#22)Common Bond CafeCuchara
Dolce Vita Pizzeria EnotecaGood Dog HoustonGusto GourmetIndikaMala Sichuan BistroPaulie’sPizaro’s Pizza NapoletanaRoostVinoteca Poscol
ShoppingMontrose’s retail offerings are unique in Houston: secondhand cou-ture, fair trade home furnishings, priceless antiques and curated thrift stores put this neighborhood on the cutting edge of fashion
Coffee CultureMontrose caters to Houston’s caffeine addiction better than any other neighborhood: unique cafes with their own signature style serve as perfect places to work, socialize, relax, and even enjoy original artwork by local artists
AgoraBacchusBlack Hole Coffee HouseBlacksmithBungalow CoffeeCampesino Coffee House
Empire CafeInversion Coffee & ArtKung Fu TeaMinuti CoffeeMercantileSiphon CoffeeSouthside EspressoThe Teahouse
NightlifeMontrose’s nightlife has something for everyone: trendy wine bistros, fashionable clubs, casual dives, artsy pubs, and artisanal cocktail bars
HUGO’S
UNDERBELLY
AGORA
ANVIL
CUCHARA
PAX AMERICANA
Anvil Bar & RefugeAvantGardenBayou City Blur Bar BohemeBoondocks CatbirdsCecil’s PubCezanneCrockerDoc’s MotorworksEagle BarF Bar Firkin & Phoenix Griff’s Houston Guava Lamp Kenneally’sJR’s Bar & GrillLa Grange Lola’s Depot
MAX’s Wine Dive Michael’s Outpost NumbersPistolero’sPoison Girl RipcordRosemontRudyard’s South BeachThe Black Labrador PubThe Davenport LoungeThe Flat The HarpThe Hay Merchant The Next Door The Patio The Red Lion PubTK Bitterman’s West Alabama Ice House Zimm’s
American Apparel Antique & Design GuysBiscuit HomeBJ Oldies Antique Shop Blackbird Trading CoBlue Bird CircleBuffalo ExchangeCottage Thrift Shop Couture BlowoutCrossroads Trading Com-panyFashion RecyclerHeiress BoutiqueJbird HoustonLeopard Lounge
Lo-Fi VintageMerchant and MarketMio Boutique Montrose Shop Old Blue House Antique Shop Pavement Houston ClothingPride & Joy AntiquesSilverlust JewelrySloan/HallSoundwavesSpace MontroseSTAG Provisions for MenTaxi Taxi ClothingTejas Custom BootsWardrobe The Boutique
±31,200 SF ON WEST GRAY 9
www.dmreland.comMontrose
Montrose Museums & Theaters
Menil Collection• 30-acre neighborhood of art
with free admission• Houses special exhibitions and
the permanent collection• Known for displays that allow
the objects and works of art to speak for themselves
• Permanent collections include Surrealist and other modern European painting and sculp-ture; Byzantine and medieval art and artifacts; African, Pacific Islands, and Pacific Northwest Native art; art of the ancient Americas and the ancient Med-iterranean and Near East; and American art after World War II
Unhinged Productions• Stages plays affirming the lives
of people in Houston’s LGBT community; recognized for raising awareness on social issues though its high-quality alternative work
The Printing Museum• Exhibits the documents and
tools that illustrate the relation-ship between a free press and a knowledgeable society
Stages Repertory Theatre• Nationally recognized produc-
tions including coverage in The New York Times, The Wall Street Journal, Variety, Vogue and American Theatre Maga-zine
• Varied repertoire of world and regional premieres
Musiqa• Non-profit organization ded-
icated to the performance of contemporary classical music
Aurora Picture Show • Shows short artist-made films
and videos and hosts visiting film/videomakers and curators
Classical Theatre Company• Dedicated to boldly re-envi-
sioning classical drama on the stage, in the community, and in the classroom
• The only professional theatre company in the Houston area that produces year round clas-sical drama
BooTown• Non-profit theater group ded-
icated to taking the ordinary and making it distinctive in non-traditional settings
Rothko Chapel• Ecumenical chapel featuring the work of
Mark Rothko, one of the most influential American artists of the mid-century
• On Travel + Leisure’s list of 101 Places Every Traveler Should Know (2012)
• Named one of the 10 most mind-blowing, energizing, unorthodox and flat-out cool places to experience art in America by GQ (2010)
• Listed by Yahoo! Travel as one of the top 10 U.S. places to see before you die (2008)
• On National Geographic’s list of the world’s “most sacred places”
Montrose Historic DistrictsMontrose is home to six of the nineteen desig-nated Historic Districts in the city of Houston: Avondale East, Avondale West, Courtland Place, Audubon Place, Westmoreland, and First Mon-trose Commons.
Montrose was honored by the American Planning Association as one of the country’s 10 great
neighborhoods due to its walkable street grid, carefully preserved historic districts and eclectic mix
of homes and businesses
ROTHKO CHAPEL
THE MENIL COLLECTION
±31,200 SF ON WEST GRAY 10
www.dmreland.comNearby Retail & Entertainment
Midtown’s thriving mixed-use community is among Houston’s most culturally diverse areas, while its residential and commercial landscapes have become the most prized in the city.
• Five colleges and universities nearby with com-bined enrollments of over 50,000
• More than 25 nightlife spots and over 45 restaurants, including many of Houston’s finest and most renowned restaurants such as Reef and T’afia
• Midtown Arts & Theater Center: 59,000 SF multi-tenant performing arts center
• Fitness Facilities: 24 Hour Fitness Super Sport, Midtown Mixed Martial Arts, YogaOne Studio
Museum District1.5 miles from the Property
Distinguished for fine restaurants, art galleries, and vintage shopping
• 19 museums• Hermann Park: 445
acres and features an 18-hole golf course, Miller Outdoor Theatre, the Houston Museum of Natural Science, the Houston Garden Cen-ter, and the Houston Zoo
• The Houston Zoo covers 55 acres and has approxi-mately 1.5 million visitors per year, making it the 7th most visited zoo in the U.S.
Upper Kirby District2 miles from the Property
Mix of affluent residential neighborhoods and urban mixed-use developments
Live-work-play environ-ment with high end retail, posh boutiques, and many of Houston’s finest restaurants, including Pondicheri, Fleming’s, Grace’s, Giacomo’s Cibe e Vino, Chuy’s, Carrabbas, Turquoise Grill, BB’s Cafe, Goode Co. Seafood and Goode Co. Taqueria, The Queen Vic Pub & Kitchen, and Kata Robata
Two theater venues: AD Players and The Music Box
0.5 miles from the Property
River Oaks Shopping Center1.3 miles from the Property
Allen EdmondsAméricasAnn TaylorAnnie AllbrittonAraya Artisan ChocolateAtrium Ready to WearBarnes & NobleBeautifully BronzedBrasserie 19Busy BodyC’est Chic by CarmineCafe GingerCalifornia Pizza KitchenCarleen LigozioCasa de Novia Bridal CoutureChalet Fine Wines Chandail NeedleworkChico’sEpicure Caféfrancesca’sFull Blown Dry BarFuzzy’s Taco ShopGAPGymboreeHemlineInternational Derma SpaJ. JillJ. McLaughlinJos A. BankKartellKroger Signature GroceryLa Griglia Restaurant
la MadeleineLensCraftersLocal PourMA Modern AcupunctureMacaron by PatisseMarble Slab CreameryMarfrelessMutual of Omaha BankNatural PawzNina McLemorePhenix Salon Suites Pure BarreRiver Oaks FitnessRiver Oaks TheaterRYDESaint CloudStarbucks (North Side)Starbucks (South Side)Steinway Piano GallerySteven Cash DiamondsSunglass HutSur La TableTalbotsTGF Hair SalonThe Mad PotterThe Texas Art GalleryU.S. CleanersV’s BarbershopVikari InternationalWhite House | Black Market
HERMANN PARK RIVER OAKS SHOPPING CENTER
EDDIE V’S AT MIDTOWNMIDTOWN
±31,200 SF ON WEST GRAY 11
ww
w.dm
reland.com
10-10-11
Before working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord
(owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly.
IF THE BROKER REPRESENTS THE OWNER:The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent.
IF THE BROKER REPRESENTS THE BUYER:The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent.
IF THE BROKER ACTS AS AN INTERMEDIARY:A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain the written consent of each party to the transaction to act as an
Approved by the Texas Real Estate Commission for Voluntary Use Texas law requires all real estate licensees to give the following information about
brokerage services to prospective buyers, tenants, sellers and landlords.
Information About Brokerage Services
Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.
intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction:
(1) shall treat all parties honestly;
(2) may not disclose that the owner will accept a price less that the asking price unless authorized in writing to do so by the owner;
(3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and
(4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property.
With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party.
If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.
Buyer, Seller, Landlord or Tenant Date
Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 , 512-936-3000 (http://www.trec.texas.gov)
TREC No. OP-K
12
777 POST OAK BLVDHOUSTON, TEXAS 77056
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