OFFERING MEMORANDUM - LoopNet · 2019. 9. 9. · NRG STADIUM GEORGE BUSH INTL AIRPORT SUGAR LAND...

Kelley WorkmanVice President

David H. LutherExecutive Vice President

Morgan Hansen Senior AssociateIN

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OFFERING MEMORANDUMGREENS CROSSROADS SHOPPING CENTER205-249 GREENS RD | HOUSTON, TX 77067

CONFIDENTIALITY AND DISCLAIMER

The information contained in the following marketing brochure is proprietary and strictly confidential. It is intended to be reviewed only buy the party receiving it from NewQuest Properties and should not be made available to any other person or entity without the written consent of NewQuest Properties. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. NewQuest Properties has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size square footage of the property and improvements, presence or absence of contaminating substances, PCB‘s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenants plans or intentions to continue it’s occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, NewQuest Properties has not verified, and will not verify, any of the information contained herein, nor has NewQuest Properties conducted any investigation regarding these matters and makes no warrantee or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all the information set forth herein. NewQuest Properties is a service mark of NewQuest Properties Real Estate Investment Services, Inc. © 2018 NewQuest Properties. All rights reserved.

THE TEXAS REAL ESTATE COMMISSION (TREC) REGULATES REAL ESTATE BROKERS AND SALES AGENTS, REAL ESTATE INSPECTORS,HOME WARRANTY COMPANIES, EASEMENT AND RIGHT-OF-WAY AGENTS AND TIMESHARE INTEREST PROVIDERS. YOU CAN FIND MORE INFORMATION AND CHECK THE STATUS OF A LICENSE HOLDER AT WWW.TREC.TEXAS.GOV. YOU CAN SEND A COMPLAINT AGAINST A LICENSE HOLDER TO TREC. A COMPLAINT FORM IS AVAILABLE ON THE TREC WEBSITE. TREC ADMINISTERS TWO RECOVERY FUNDS WHICH MAY BE USED TO SATISFY A CIVIL COURT JUDGMENT AGAINST A BROKER, SALES AGENT, REAL ESTATE INSPECTOR, OR EASEMENT OR RIGHT-OF-WAY AGENT, IF CERTAIN REQUIREMENTS ARE MET. IF YOU HAVE QUESTIONS OR ISSUES ABOUT THE ACTIVITIES OF A LICENSE HOLDER, THE COMPLAINT PROCESS OR THE RECOVERY FUNDS, PLEASE VISIT THE WEBSITE OR CONTACT TREC AT:

TEXAS REAL ESTATE COMMISSIONP.O. BOX 12188 AUSTIN, TEXAS 78711-2188 512.936.3000

NON-ENDORSEMENT NOTICE

NewQuest Properties is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of NewQuest Properties, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of NewQuest Properties, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR NEWQUEST PROPERTIES AGENT FOR MORE DETAILS.

NON-ENDORSEMENT AND DISCLAIMER NOTICE

DAVID H. LUTHERExecutive Vice PresidentInvestment Sales

[email protected]

281.477.4373

MORGAN HANSENSenior AssociateInvestment Sales

[email protected]

281.640.7904

KELLEY WORKMANVice PresidentInvestment Sales

[email protected]

281.477.4355

MEET THE TEAM

3

GREENS CROSSROADS

ADDRESS 205-249 Greens Rd.,Houston, TX 77067

PRICE $15,350,000

OCCUPANCY 81.22%

GLA 148,082 SF

LAND AREA 12.49 ACRES

YEAR BUILT/RENOV 1978/2005

• Value Added Shopping Center Located on I-45 North & Beltway 8 with 307,802 cars per day

• In-line space of 142,299 Square Feet with 5,783 Square Feet of Ground lease pads – Total GLA 148,082 Square Feet on 12.49 Acres

• Surrounded by a daytime working population over 203,338+

• Excellent Tenant mix with average lease in place over 10 years and upside in filling the remaining vacancy

• Offered at $15,350,000 7.40% CAP with attractive assumable debt

EXECUTIVE SUMMARY

4

7.40%cap rate

$15.35Mprice

148,082RBA

12.49acres

2005year renovated

NewQuest Properties is pleased to exclusively represent the ownership group in the disposition of the

Greens Crossroads Shopping Center which is a 148,082 square foot multi-tenant shopping experience

sitting in the heart of the North Houston District on Interstate 45 North and Beltway 8 North in

Houston, Texas.

The shopping center has 142,299 square feet of inline space and two ground lease pad sites on 5,783

square feet. The inline space is currently 81.22% occupied while allowing an investor to see the upside

in leasing 2nd generation space of 18.78%. Both Ground Lease pads are 100% occupied with a Chase

bank, with deposits topping $264,985M and Burger King pays base rent plus percentage rent with a

rent to sales ratio of 5%. It is a well-built tilt wall and block construction from 1982 and renovated in

2005 keeping in the same format of quality construction with tinted window storefront retail spaces as

well as medical office storefronts.

Offered at $15,350,000 or a 7.40% CAP. There is attractive assumable debt at 5.07% not due until

2022 with a loan balance of $11,470,000.00 – or roughly 75% LTV, a buyer can get into this deal with

$4,000,000 down and achieve a 14% return on equity in year one and potentially 23% in year two.

INVESTMENT HIGHLIGHTS

5

SUGAR LAND PEARLAND

KATY

SPRING

CENTRALBUSINESSDISTRICT

WILLIAM P.HOBBY AIRPORT

TEXASMEDICALCENTER

NRGSTADIUM

GEORGE BUSHINTL AIRPORT

SUGAR LANDAIRPORT

ENERGYCORRIDOR

10

6

LOCATIONThe Greenspoint area was originally developed by the Friendswood

Development Company in the early 1980’s. In 1991 the area was remaned

the North Houston District ( https://www.northhouston.org/ ) which now

includes the Hardy Toll Road, a north-south thoroughfare from Houston’s

CBD to the Woodlands. The area is serviced by Houston’s largest

international airport, Bush Intercontinental Airport (IAH) with 44 million

passengers annually passing through. The North Houston District is one

of Houston’s major business districts with over 10 million square feet of

office space. The district has over 2,880 companies and host a workforce

of over 68,000 people. This is an excellent Hispanic driven market with all

the beauty and culture you find in other Hispanic areas of Houston. In 2017,

Greenspoint Mall was purchased, and the group seeks to replace it with a

mixed-use development. The area is served by Lone Star College System

with enrollment over 83,000 students city wide and acts as a feeder

school to the many universities in Texas.

The North Houston District has been enjoying an upswing in new office

and warehouse tenants being centrally located to major interstates and

roadways that link Texas cities. Several new additions to the area are an

Amazon fulfillment center, Sysco, TechinoFMC, Aetna, Digital Technology,

Beltway Technology, XPO Logistics, 54 acres Pinto Business Park and

U-Haul. There are numerous retailers in the North Houston District

including but not limited to Fitness Connection, Premiere Cinemas, Slick

Willie’s, Finish line Shoes, BB& T Bank, McDonalds, Chase, Burlington,

99cents Store, GNC, Porsche, Cadillac, Buick, Lamborghini, Hilton Hotel,

Marriott North Hotel, Hyatt Regency, Intercontinental, Hampton, Pappa’s

Seafood, Jimmy G’s Cajun Seafood, Denny’s, Jack in the Box, Whataburger.

GREENS CROSSROADS

INVESTMENT SUMMARY

6

SUGAR LAND

KATY

6TEXAS

59

10

90

290

249TEXAS

TOLLWAY

HCTRA

99TOLL

SPRING

610 HOUSTON

PEARLAND

CYPRESS

GREENS CROSSROADS

REGIONAL MAP

7

SUGAR LAND

KATY

6TEXAS

59

10

90

290

249TEXAS

TOLLWAY

HCTRA

99TOLL

SPRING

610 HOUSTON

PEARLAND

CYPRESSSPEARS RD

KUYKENDAHL RD

W AIRTEX BLVD

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GEARS RD

GREENS RD

GREENS PKWY

SAM HOUSTON TOLLWAY

RANKIN RD

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8

45

GREENS CROSSROADS

LOCAL MAP

8

45

GREENS RD 17,649 VPD GREENS RD 29,447 VPD

BELTLINE RD

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GLENBOROUGH DR

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314

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Southbrook

Northpointe Apartments

Reserve at Greens Crossing

GREENS CROSSROADSSITE

GEARS RD

9

TOLL ROAD

HARDY

TOLLWAY

SAM HOUSTON

SAM HOUSTON TLWY 196,286 VPD

TOLLWAY

SAM HOUSTON

F A R M

R O A D

1960

249

F A R M

R O A D

1960

F A R M

R O A D

1960

45

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FM 1960 61,989 VPD

16.5

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Lincoln Green Estates | Place

Lincoln Green East

Rushwood

Heritage Village

Greenfield Village

Camden Park

SilverglenSubdivisions

NorthcliffeSubdivisions

Kleinbrook

PlummerMiddle School

Davis HighSchool

RemingtonRanch

MeadowviewFarms

Northridge ParkSubdivisions

NorthviewSubdivisions

NorthparkCentral

ClarkIntermediate

School

Hard

y Toll Rd

59

,714

VP

D

Green RidgeNorth

Aldine SeniorHigh School

FallbrookForestwood

Willow Springs

Maple RidgePlace

Northwest ParkSubdivisions

Eagle Landing

Sablechase

Sableridge

Hambledon

Torrey Pines

Oak CreekVillage

Wells M. S.

Olde Oaks

BammelForest

NorthgateSubdivisions

Nimitz HighSchool

PonderosaForest

TerranovaWest

High Meadows

Fairgreen

NorthlineTerrace

Meadowviewland

MacArthurHigh School

Mary Eleanor |Mary Francis

Castlewood

KenswickSubdivisions

CypresswoodPoint

Foxwood

Hidden Valley

Heather Glen

Woodcreek

WestfieldHigh School

North HoustonIndustries

CentralGreen

North BeltIntercontinentalBusiness Park

Beltway NorthCommerce

Center

CornettBusiness Park

The largest hub for theworld’s 2nd largest airline:

United Airlines

In 2018, nearly 44 million passengerstraveled through the five-terminal,

five-runway airport

George BushIntercontinental

Airport

GREENS CROSSROADSSITE

10

Not Included

Not Included

205-249 GREENS RD | HOUSTON, TX 77067SITE PLAN

11

TENANT NAME SUITE AREA

% BUILDING

SHARE

LEASE START DATE

LEASE END DATE

MONTHLY SF

TOTAL RENT PER

MONTH

TOTALRENT PER

YEARCHANGES

ONEXPENSE

REIMBURSEMENTS

Burger King - GL 207 3,383 2.3% 6/1/07 5/31/27 $3.25 $11,008 $132,096 6/22 $7,419

Chase Bank - GL 213 2,400 1.6% 2/1/09 1/31/24 $3.45 $8,271 $99,252 2/24 $1,659

Burlington Coat 205 79,859 53.9% 3/1/07 4/30/22 $0.68 $54,344 $652,124 5/27 $93,111

Its Fashion Metro 205-B 11,760 7.9% 9/15/08 1/31/34 $0.71 $8,379 $100,548 2/24 $33,911

Rainbow 215-221

9,135 6.2% 11/1/19 10/30/24 $1.23 $11,250 $135,000 11/24 $26,342

Cricket 227 1,740 1.2% 4/1/17 11/30/22 $1.77 $3,080 $36,958 12/19 $8,769

Subway 229 1,740 1.2% 7/1/07 6/30/22 $2.62 $4,566 $54,794 N/A $18,255

TruHerbs Pharmacy 231 875 0.6% 11/1/18 1/31/20 $1.61 $1,410 $16,923 N/A $4,323

SF2 231-B 1,635 1.1% 1/1/16 12/31/20 $1.67 $2,730 $32,765 1/21 $8,076

Original Big Belly 233 1,740 1.2% 4/1/19 10/31/24 $1.68 $2,917 $35,009 1/22 $8,910

Panda 249 6,000 4.1% 1/1/08 12/31/22 $1.74 $10,450 $125,400 N/A $35,400

Vacant 205-C 6,750 4.6% N/A N/A $0.00 $0 $0 N/A $0

Vacant 225 2,175 1.5% N/A N/A $0.00 $0 $0 N/A $0

Vacant 235 1,740 1.2% N/A N/A $0.00 $0 $0 N/A $0

Vacant 239 4,350 2.9% N/A N/A $0.00 $0 $0 N/A $0

Vacant 245 7,800 5.3% N/A N/A $0.00 $0 $0 N/A $0

Vacant 247 5,000 3.4% N/A N/A $0.00 $0 $0 N/A $0

TOTAL TENANTS 148,082 $1.70 $118,406 $1,420,868 $89,216

11 occupied tenants

6 unoccupied tenants

81.22% occupied GLA

18.78% unoccupied GLA

TENANT SUMMARY

12

RENTABLE SQ FT 79,859 SF

ANNUAL RENT $652,124

ANNUAL RENTPER SF $8.17

RENT INCREASE ON 5/1/27

RENT INCREASE OF 2.76%

OPTIONS 5 Terms for 5-Year

TERM 3/1/07 - 4/30/22

CAM METHOD Retail Gross NNN

LEASE ABSTRACT





RENT INCREASE OF 10%

OPTIONS N/A

TERM 6/1/07-5/31/27

CAM METHOD Ground LeaseNNN

13


ANNUAL RENT $99,252



RENT INCREASE OF 10%

OPTIONS 2 Terms for 5-Years

TERM 2/1/09-1/31/24

CAM METHOD Ground LeaseNNN

PANDA CHINESE CAFE




RENT INCREASE ON N/A

RENT INCREASE OF N/A

OPTIONS Yes; TBD

TERM 1/1/08-12/31/22

CAM METHOD Retail Gross NNN

LEASE ABSTRACT

14

INCOME YEAR 1 PER SQ FT YEAR 2 PER SQ FT

Scheduled Base Income $1,421,390 $9.59 $1,756,214 $11.86

Total Reimbursable Expenses $187,762 $1.27 $267,972 $1.81

Potential Gross Revenue $1,609,152 $10.87 $2,024,186 $13.67

General Vacancy 0 0.00 ($87,811) ($0.59)

Effective Gross Revenue $1,609,152 $10.87 $1,936,375 $13.08

OPERATING EXPENSES YEAR 1 PER SQ FT YEAR 2 PER SQ FT

Utilities (CAM) $13,560 $0.09 $13,560 $0.09

Maintenance & Repair (CAM) $20,400 $0.14 $20,400 $0.14

Landscaping (CAM) $7,500 $0.05 $7,500 $0.05

Sweeping (CAM) $16,140 $0.11 $16,140 $0.11

Insurance $93,157 $0.63 $93157 $0.63

Real Estate Taxes $276,262 $1.87 $276,262 $1.87

Management Fee $46,992 $0.32 $46,992 $0.32

Total Expenses $474,011 $3.20 $474,011 $3.20

Expenses as % of EGR 29.5 % - 24.5 % -

Net Operating Income $1,135,141 $7.67 $1,462,364 $9.88

$1,609,152effective gross revenueYEAR 1

$1,135,141net operating incomeYEAR 1

OPERATING STATEMENT

15

RETURNS YEAR 1 YEAR 2

CAP Rate 7.40% 9.53%

Cash-on-Cash 7.50% 15.94%

Debt Coverage Ratio 1.34 1.73

INCOME YEAR 1 YEAR 2

Scheduled Base Rental Income $1,421,390 $1,756,214

Total Reimbursement Income 13.2% $187,762 15.3% $267,972

Other Income $0 $0

Potential Gross Revenue $1,609,152 $2,024,186

General Vacancy $0 ($0)

Effective Gross Revenue $1,609,152 $1,936,375

Less: Operating Expenses 29.5% ($474,011) 24.5% ($474,011)

Net Operating Income $1,135,141 $1,462,364

Tenant Improvements $0 $0

Leasing Commissions $0 $0

Capital Expenditures $0 $0

Cash Flow $1,135,141 $1,462,364

Debt Service ($844,128) ($844,128)

Net Cash Flow After Debt Service 7.50% $291,013 15.94% $618,236

Principal Reduction $268,739 $282,685

TOTAL RETURN 14.43% $559,752 23.23% $900,921

PRICE $15,350,000

Down Payment (25%) $3,879,045

Number of Suites 17

Price Per Sq Ft $103.66

Gross Leasable Area (GLA) 148,082 SF

Lot Size 12.49 Acres

Year Built/Renovated 1978

Occupancy 81.22%

FINANCING 1ST LOAN

Loan Amount $11,470,955

Loan Type ASSUMED

Interest Rate 5.07%

Amortization 30 Years

Year Due 2022

Loan information is subject to change. Contact your representative.

PRICING DETAIL

16

SUGAR LAND

KATY

6TEXAS

59

10

90

290

249TEXAS

TOLLWAY

HCTRA

99TOLL

SPRING

610 HOUSTON

PEARLAND

CYPRESS GREENS CROSSROADS

Asking Price $15,350,000

Price/SF (Building) $103.66

Year Built/Renov 1978/2005

GLA SF 148,082

GREENS CROSSROADS

COMPARABLES 205-249 GREENS RD | HOUSTON, TX 77067

17

SALESSALES PRICE

SALES DATE

BUILDING SF

PRICE PER SF

CAP RATE

YEAR BUILT/

RENOV

Easttex Shopping Center10659 - 10771 N. US 59 Hwy, Houston, TX 77093

$14,200,000 1/11/2018 174,612 $81.00 7.50% 1967

Torrey Square13030 - 13190 Veterans Memorial Dr, Hous-ton, TX, 77014

$10,000,000 10/1/2018 108,393 $95.00 8.00% 1983

Northchase Plaza4407 - 4485 W. FM 1960, Houston, TX, 77068

$16,300,000 2/1/2019 148,344 $112.00 7.80% 1995

Cortez Plaza4429 14th St W, Brandenton, FL, 34207

$25,529,273 10/9/2018 255,922 $99.75 8.14%1959/1998

Woodbridge Crossing465 Green St, Woodbridge, NJ, 07095

$17,148,934 2/11/2019 157,808 $108.67 7.50%2001/2018

Marketplace at Four Corners 7555 Market Place Dr., Aurora, OH, 44202

$15,800,000 3/5/2018 116,436 $135.70 7.5% 2004

01

02

03

04

05

06

GREENS CROSSROADS

3

1-3

4

56

SALES COMPARABLES

18

EASTEX SHOPPING CENTER10659-10771 N. US 59 HWY, HOUSTON, TX 77090

TORREY SQUARE13030-13190 VETERANS MEMORIAL DR, HOUSTON, TX 77014

NORTHCHASE PLAZA4407-4485 W. FM 1960, HOUSTON, TX 77068

Sales Price $14,200,000

Price Per SF $81

CAP Rate 7.50%

Year Built 1967

Building SF 174,612


Price Per SF $95

CAP Rate 8.00%

Year Built 1983

Building SF 108,393


Price Per SF $112

CAP Rate 7.80%

Year Built 1995

Building SF 148,344

02 0301

SALES COMPARABLES

19

CORTEZ PLAZA4429 14TH ST W., BRADENTON, FL 34207

WOODBRIDGE CROSSING465 GREEN ST, WOODBRIDGE, NJ 07095

MARKETPLACE AT FOUR CORNERS 7555 MARKET PLACE DR., AURORA, OH, 44202


Price Per SF $99.75

CAP Rate 8.14%

Year Built/Ren-ov 1959/1998

Building SF 255,922


Price Per SF $108.67

CAP Rate 7.50%

Year Built/Ren-ov 2001/2018

Building SF 157,808


Price Per SF $135.70

CAP Rate 7.5%

Year Built/Ren-ov 2004

Building SF 116,436

0504 06

SALES COMPARABLES

20

SUGAR LAND

KATY

6TEXAS

59

10

90

290

249TEXAS

TOLLWAY

HCTRA

99TOLL

SPRING

610 HOUSTON

PEARLAND

CYPRESS

LEASE TYPE GLATYPICAL

FLOORAVAIL.

SFASKING

RENTYEAR BUILT

WEST GREENS PLAZA11243-11245 VETERANS MEMORIAL RD, HOUSTON, TX 77067

RETAIL 14,600 14,600 1,400 $19.00/NNN 2003

GREENS PLAZA11210-11290 VETERANS MEMORIAL DR, HOUSTON, TX 77067

RETAIL 42,684 42,684 1,500 $16.00/NNN 1985

CAMDEN OAKS CENTER12002 VETERANS MEMORIAL DR, HOUSTON, TX 77067

RETAIL 28,193 28,193 3,900 $15.00/NNN 1975

THE PLAZAS AT VETERANS MEMORIAL10811 VETERANS MEMORIAL DR, HOUSTON, TX 77067

RETAIL 12,500 12,500 900 $17.00/NNN 2001

01

02

03

04

GREENS CROSSROADS

1-4

LEASE COMPARABLES

21

WEST GREENS PLAZA11243-11245 VETERANS MEMORIAL RD, HOUSTON, TX 77067

GREENS PLAZA11210-11290 VETERANS MEMORIAL DR, HOUSTON, TX

Rent Per SF $19.00/NNN

GLA 14,600

Year Built 2003

Area SF 1,400

Tenancy Multiple

Rent $16.00/NNN

GLA 42,684

Year Built 1985

Area SF 1,500

Tenancy Multiple

0201

LEASE COMPARABLES

22

CAMDEN OAKS CENTER12002 VETERANS MEMORIAL DR, HOUSTON, TX 77067

THE PLAZAS AT VETERANS MEMORIAL10811 VETERANS MEMORIAL DR, HOUSTON, TX 77067

Rent Per SF $15.00/NNN

GLA 28,193

Year Built 1975

Area SF 3,900

Tenancy Multiple

Rent $17.00/NNN

GLA 12,500

Year Built 2001

Area SF 900

Tenancy Multiple

0403

LEASE COMPARABLES

23

POPULATION

27,939,904

IN THE U.S.A.

2ND FASTEST GROWING ECONOMY

13+ MILLION WORKERS

TOP STATE FOR JOB GROWTH

FORTUNE 500 COMPANIESCALL TEXAS HOME

BEST STATE FOR BUSINESS10TH YEAR IN A ROW

AWARDED 2014 GOVERNOR’S CUP FOR THE MOST NEW AND EXPANDED CORPORATE FACILITIES: 689

NO STATEINCOME TAX

54 LARGEST MEDICAL CENTER 2ND LARGEST CANCER CENTER MD ANDERSON, HOUSTON

OVER 3,000 COMPANIES HAVE LOCATED OR EXPANDED FACILITIES IN TEXAS SINCE 2009

FORT WORTH#3 Top Moving Destination 2017

HOUSTON#2 Fastest Growing Housing Market 2018#7 Top 2- Business-Friendly City

AUSTIN#1 Best Places to Live 2018#12 Top 20 Business-Friendly City

SAN ANTONIO#14 Best Place to Live 2018

DALLAS#1 Fastest Growing Housing Market 2018#1 Top 20 Business-Friendly City

LOCATION OVERVIEW

24

Houston is the largest city in Texas and fourth most populous city in the United States.

In 2019, Houston has a population of more than 2.47 million residents. The city is

recognized for its vibrant economy, beautiful surrounds and diverse population. More

than 145 different languages are spoken in Houston, the third largest number for any

U.S. city. Houston also has very young residents, with the largest population segment

between the ages of 5 and 19.

Houston boasts one of the most robust and dynamic economies in the world,

with a broad industrial base in energy, health care, manufacturing, aeronautics and

transportation. The city features the second largest concentration of Fortune 500

companies in the country. Houston has a reputation as the “energy capital of the World

with more than 3,700 energy-related establishments located in the area. The nearby

Port of Houston handles the most international waterborne tonnage in the world and

led the region being knows as the undisputed global leader in international business.

The Texas Medical Center is the world largest medical complex and has 21 hospitals,

one of which is the leading cancer hospital in the country. In 2014, TMC3 Collaborative

Campus was announced and will add a game changing 37-acre translational research

campus. Houston’s impressive workforce fills 3.2 million jobs, more than Maryland,

Arizona or Colorado.

Known for its endless outdoor activities and as a leader in green space, Houston rates

first in the nation for total acreage in parkland, with more than 53,000 acres. Houston

offers its residents and visitors more than 300miles of interconnected bikeways and an

impressive transportation network. The highway system contains more than 575 miles

of freeways and expressways, providing excellent access to markets outside the region.

The Metro buses and MetroRail provide excellent affordable public transportation.

The Houston Airport System, which incudes George Bush Intercontinental, William P.

Hobby, and Ellington Airport, handled 58 million passengers in 2018.

LOCATION HIGHLIGHTS

25

POPULATION 1 MILE 3 MILES 5 MILES

2024 Projected Population 10,775 137,006 307,062

2019 Estimated Population 10,154 131,877 297,099

2010 Census Population 9,109 110,982 250,734

2000 Census Population 7,270 84,507 186,077

HOUSEHOLDS 1 MILE 3 MILES 5 MILES

2024 Projected Households 4,206 46,414 101,115

2019 Estimated Households 3,858 43,109 94,347

2010 Census Households 3,331 34,667 75,909

2000 Census Households 2,986 28,271 60,764

2019 Occupied Units 3,858 43,109 94,347

HOUSEHOLDS BY INCOME 1 MILE 3 MILES 5 MILES

$150,000 or More 2.1% 4.4% 5.3%

$100,000 to $149,000 7.0% 8.9% 10.1%

$75,000 to $99,999 7.4% 11.3% 11.8%

$50,000 to $74,999 16.9% 15.2% 20.83%

$35,000 to $49,999 16.50% 14.26% 15.4%

Under $35,000 50.5% 40% 36.5%

Average Household Income $31,883 $47,876 $52,830

Median Household Income $35,039 $46,033 $49,237

Per Capita Income $12,114 $15,652 $16,782

2018 POPULATION BY AGE

POPULATION HOUSEHOLDS

297,099

MEDIAN AGE

94,347

MEDIAN INCOME

29.4 $49,237

34.2% 59% 6.9%

0-19 YEARS 20-64 YEARS 65+ YEARS

LOCATION DEMOGRAPHICS

26

HOUSEHOLDS BY EXPENDITURE 1 MILE 3 MILES 5 MILES

Total Monthly Retail Expenditures $2,755 $3,527 $3,768

Consumer Expenditure Top 10 Categories

Shelter $607 $757 $804

Transportation $495 $646 $692

Food and Beverages $418 $532 $567

Health Care $232 $299 $320

Utilities $219 $275 $292

Entertainment $146 $193 $207

Contributions $79 $105 $113

Education $75 $97 $104

Apparel $97 $125 $133

Furnishings and Equipment $91 $120 $129

POPULATION PROFILE 1 MILE 3 MILES 5 MILES

2019 Estimate Total Population 10,154 131,877 297,099

Under 20 3,593 45,433 101,237

20 to 34 Years 3,091 34,202 71,719

35 to 39 Years 761 10,111 23,020

40 to 49 1,129 16,797 38,635

50-64 1,135 17,507 41,997

Age 65+ 445 7,828 20,491

Median Age 26.1 28.4 29.4

Population 25+ by Education 5,561 75,502 173,290

Elementary (0 to 8) 692 12,552 29,558

Some High School (9 to 11) 964 10,837 24,519

High School Graduate (12) 1,801 21,694 50,546

Some College (13-15) 1,382 17,053 36,022

Associate Degree Only 291 4,989 10,846

Bachelor Degree Only 334 5,779 15,054

Graduate Degree 96 2,599 6,744

POPULATION GROWTH2010–2019

1.1% 1-MILE RADIUS

1.8% 3-MILE RADIUS

1.7% 5-MILE RADIUS


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POPULATIONIn 2019 the population in your selected geography is 297,099.

The population has changed by 5.2% since 2000. It is estimated

that the population in your area will be 307,062 five years from now,

which represents a change of 0.7% from the current year. The current

population is 49.3% male and 50.7% female.

The median age of the population in your area is 30.3 compare this to

the US average which is 37.95. The population density in your area is

3,784 people per square mile.

HOUSEHOLDSThere are currently 94,347 households in your selected geography.

The number of households has changed by 2.9% since 2000. It is estimated

that the number of households in your area will be 101,115 five years from

now, which represents a change of 1.4% from the current year. The average

household size in your area is 3.1 persons.

INCOMEIn 2019 the median household income for your selected geography is

$49,237; compare this to the US average which is currently $58,754.

The median household income for your area has changed by 1.6% since

2000. It is estimated that the median household income in your area will

be $57,169 five years from now, which represents a change of 3.2% from

the current year. The current year per capita income in your area is $16,782;

compare this to the US average, which is $32,356. The current year average

household income in your area is $52,830; compare this to the US average

which is $84,609.

HOUSINGThe median housing value in your area was $128,994 in 2019, compare this

to the US average of $201,842. In 2019, there are 45,984 owner occupied

housing units in your area and there are 48,363 renter occupied housing

units in your area. The median rent is $807.

EMPLOYMENTIn 2019, there are 203,338 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

37.7% of employees are employed in white-collar occupations in this

geography, and 59.6% are employed in blue-collar occupations. In 2018,

unemployment in this area is 3.0%. In 2000, the average time traveled to

work was 28.9 minutes.

RACE & ETHNICITYThe current year racial makeup of your selected area is as follows: 37.9%

White, 30.4% Black, 0.8% Native American and 6.0% Asian/Pacific Islander.

Compare these to US averages which are: 70.20% White, 12.89% Black,

0.19% Native American and 5.59% Asian/Pacific Islander. People of Hispanic

origin are counted independently of race. People of Hispanic origin make up

53.9% of the current year population in your selected area. Compare this to

the US average of 18.01%.


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