5540 richmond avenue 5540 richmond avenue - Kensinger Donnelly

5540 richmond avenue 5540 richmond avenue - Kensinger Donnelly

5540 RICHMOND AVENUE UPTOWN UPTOWN-HOUSTON HOUSTON, TEXAS TEXAS Kensinger Donnelly LLC 3300 Chimney Rock Road - Suite 301 - Houston, TX 77056 - T: ...

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5540 RICHMOND AVENUE

UPTOWN UPTOWN-HOUSTON HOUSTON, TEXAS TEXAS

Kensinger Donnelly LLC

3300 Chimney Rock Road - Suite 301 - Houston, TX 77056 - T: 713-784-3300 - F: 713-784-5226

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PROPERTY PROPERTY SUMMARY

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30,000 SF FOR BUILD-TO-SUIT

Address:

5540 A Richmond Avenue

Location:

Uptown/St. George Place

Proposed Building Size:

3,000 - 3,500 SF (With or without drive-thru)

Land Area:

+ 30,000 SF

Parking Spaces:

36 (12 / 1,000) 21 Additional Reciprocal

Other Tenants:

Starbucks Coffee

Traffic Counts:

47,090 (Richmond) 38,660 (Chimney Rock)

DESCRIPTION SITE PLAN

DESCRIPTION This + 30,000 SF pad site is adjacent to a brand new Starbucks constructed in 2016. Site offered for build-to-suit of new 3,000-3,500 SF restaurant with or without drive-thru and room to spare for patio dining. Site plan shows 36 parking spaces plus an additional 21 unrestricted reciprocal access spaces. LOCATION Property is located at the northeast corner of Chimney Rock and Richmond Avenue. Both are western access thoroughfares through premier Uptown District. Chimney Rock provides quick access to Southwest Freeway, Loop 610 and the Westpark Tollway.

Kensinger Donnelly LLC

PRICING Build-to-suit:

$65/SF/Year + NNN (3,000-3,500 SF)

Ground Lease:

$10,000/month + NNN

3300 Chimney Rock Road - Suite 301 - Houston, TX 77056 - T: 713-784-3300 - F: 713-784-5226

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NEARBY

RESIDENTIAL

ST. GEORGE PLACE St. George place has undergone tremendous transformation since the creation of TIRZ #1 in 1991. New homes in this neighborhood sell for >$1M and townhouses >$550K. High income demographics of the neighborhood are anticipated to expand into neighborhood to the west across Chimney Rock. LARCHMONT This deed restricted neighborhood south of Richmond Avenue is seeing more higher-end homes being developed. Mostly 1950s ranch style homes are selling in the $400-$500K range. Mostly a younger demographic. HAR reports a higher average $/SF for Larchmont than St. George Place to the north. BRIARGROVE Very desirable neighborhood to the northwest of subject property. Older ranch style homes are listed >$500K, new and renovated homes generally sell higher than $1M. Higher $/SF reported by HAR than either Larchmont or St. George Place. BRIARCROFT Located just north on Chimney Rock, Briarcroft Subdivision is in the same mold as Briarcroft and Tanglewood. High-income families reside here. Older ranch style homes are listed for >$600K and newer homes are >$1.5M. TANGLEWOOD Tanglewood is one of the premier neighborhoods of West Houston. Homes are generally listed >$1.5M. Houston Country Club is located here.

Kensinger Donnelly LLC

3300 Chimney Rock Road - Suite 301 - Houston, TX 77056 - T: 713-784-3300 - F: 713-784-5226

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NEARBY

RESTAURANTS

This site is surrounded by numerous food and dining options serving the aforementioned neighborhoods as well as the immense daytime population. A few of the newer and more popular options are shown on the adjacent map and listed below: Starbucks

Roostar Vietnamese Grill

Krisp Bird & Batter

Thai Gourmet

Pete's Fine Meats

French Riviera

Beck's Prime

Shake Shack

HS Green

Mod Pizza

Local Foods

Adair Kitchen

The Starbucks location at the adjacent pad site experienced strong growth in sales since moving from across the street. Notably, the Starbucks at Fountain View and Westheimer closed soon after. Over the last three years, new concepts such as HS Green, French Riviera, Krisp Bird & Batter and soon Roostar Vietnamese Grill have all opened their doors and been successful in meeting the demands of the immense lunchtime crowd. Richmond Avenue's lower price point and superior access has been beneficial in driving that growth. Richmond Avenue is also well-known for its night life. Liquor sales are competitive in the stretch of Richmond between Chimney Rock and Hilcroft with the higher-end full service restaurants on Westheimer. Notable highlights of this fact include, El Diablo Loco, Prospect Park and Sam's Boat - all with liquor sales exceeding $250K (Feb 2017).

Kensinger Donnelly LLC

3300 Chimney Rock Road - Suite 301 - Houston, TX 77056 - T: 713-784-3300 - F: 713-784-5226

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Kensinger Donnelly LLC

3300 Chimney Rock Road - Suite 301 - Houston, TX 77056 - T: 713-784-3300 - F: 713-784-5226

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5540 RICHMOND AVE.

Kensinger Donnelly LLC

3300 Chimney Rock Road - Suite 301 - Houston, TX 77056 - T: 713-784-3300 - F: 713-784-5226

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