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2306-2320 McCue Rd - Covered Land Play

2.73 Acres of Residential Land Offered at $28,000,000 in Houston, TX 77056

Investment Highlights

  • Phenomenally maintained communities.
  • The area has some of the most prestigious luxe condos apartments and office hi-rise buildings in the Houston Area – All within a 5-mile radius.
  • Located around the block from Post Oak Boulevard, the target of a city beautification project
  • Full-time landscaper, full-time housekeepers, seasonal decorations, hastening replacements and more.
  • Located about 19 minutes from Downtown Houston and 25 minutes from William P. Hobby Airport.

Executive Summary

Kassin Sabbagh Realty NY (“KSR”) has been appointed as the exclusive brokerage for 2306 McCue Road and 2320 McCue Road, two continuous sites. The sites are situated in a luxurious neighborhood, home to the seventh largest shopping center in America, The Galleria. It is also located a few minutes away from River Oaks, a district with designer boutiques, high-end shops, and lots of fine dining. There are countless hi-rises in the area, many of which being newly constructed, and it is only a matter of time before 2306-2320 McCue Road houses its own large development.
2306 McCue Road, otherwise known as Marquee Uptown, is currently operational as a 58-unit multifamily. 2320 McCue Road, otherwise known as Carriage Square apartments, is currently operational as a 40-unit multifamily. In total, they are comprised of 98 units, all situated on 2.73 acres of land, on two contiguous tax lots. Both properties are currently being looked at as covered land plays and are being sold on that basis. Located in the heart of the Galleria/ Uptown trade area with 187,000+ population with high average household incomes of over $94,000 within a 5-mile radius.
Ownership has phenomenally maintained both communities, as told by the high expense ratio. This includes a full-time landscaper, full-time housekeepers, seasonal decorations, hastening replacements and more.

Property Facts

Price $28,000,000
Sale Type Investment
Sale Conditions Redevelopment Project
No. Lots 1
Property Type Land
Property Subtype Residential
Total Lot Size 2.73 AC

1 Lot Available

Lot

Price $28,000,000
Price Per AC $10,256,410
Lot Size 2.73 AC

Approximately 2.73 acres with existing operational multifamily properties: Marquee Uptown and Carriage Square Apartments.

Description

2306-2320 McCue Road is located only one block away from Post Oak Boulevard, a six-lane boulevard with a grassy median, passing through lots of high-end residential and commercial buildings. The Boulevard has recently been the beneficiary of an upscale renovation project, including tree-lined medians, attractive “halo-like” chromatic street signs, and even the opening of a new bus lane. The Boulevard provides convenience with regards to transportation, and luxury with regards to living.

Walk Score ®
Very Walkable (88)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 0451400060143
  • 0451400060146
Land Assessment
$11,932,400
Improvements Assessment
$3,025,546
Total Assessment
$14,957,946

zoning

Zoning Code Residential
Residential
  • Listing ID: 25580722

  • Date on Market: 4/28/2022

  • Last Updated:

  • Address: 2306-2320 McCue Rd, Houston, TX 77056

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