Anderson Road

Anderson Road Development Site

3214 Anderson Road | Houston, Texas 77053

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada. © 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

johnny king Director Mortgage Banking(713) 469-4502johnny.king@berkadia.com

CUTT ABLESON Senior Managing Director Mortgage Banking(713) 469-4503cutt.ableson@berkadia.com

kyle whitney Senior Director(713) 724-1456kyle.whitney@berkadia.com TX CRE #658451

jed dalton Senior Financial Analyst(832) 314-5078jed.dalton@berkadia.com

tucker fama Financial Analyst(281) 923-3856tucker.fama@berkadia.com TX CRE #9002106

joey rippel Managing Director(601) 919-5155joey.rippel@berkadia.com TX CRE #654288

chris young Managing Director(972) 743-5742chris.young@berkadia.com TX CRE #630674

jeffrey skipworth Managing Director(214) 533-3322jeffrey.skipworth@berkadia.com TX CRE #560404

chris curry Senior Managing Director(713) 553-0151chris.curry@berkadia.com TX CRE #566750

investment sales and mortgage banking

houston, tx office 2229 San Felipe, Ste 1600 Houston, TX 77019(713) 974-1300 | Berkadia.com

Visit Doc Center

3.1224-acre development site in Southeast Houston, seven minutes north of Pearland, a popular and fast-growing suburb and 15 minutes south of the Texas Medical Center, the largest in the world

Property sale includes permitted set of detailed architectural, civil engineering, electrical, irrigation, structural, mechanical, plumbing, landscape, and interior design plans

The plans propose a 124-unit, four-story mid-rise with surface parking and carports

Its planned amenity package includes a clubhouse, expansive indoor and outdoor socials areas, resort-style pool area, and large dog park with washing station

investment highlights

Shovel Ready in a Prime Location

Newest multifamily construction within three miles ranges from $1,300 to $1,900 average rent per month

Three multifamily communities in lease-up within three miles and no other units currently under construction or planned

Multifamily rents have increased 3.1% over the last year in the submarket (MRI Apartment Data) and projected to average 3% annually from 2025 to 2027 (Yardi Matrix)

Strong Class A Rent Levels with Limited New Supply

Site is one minute from Almeda Road, five minutes from Beltway 8/Sam Houston Tollway, and ten minutes from Hwy 288

Pearland ranked #8 in the U.S. for population growth from 2010 to 2020 and is forecasted to grow another 20% over the next 16 years

Texas Medical Center has $3B+ in new life sciences, biotechnology, and health care growth underway, creating upward of 30K new jobs upon completion

Outstanding Drivers and Demographics Support Multifamily

Single-family home prices in zip code average $371K and $442K in Pearland

Average household income is $82K within three miles and $89K within five miles

the location

The Opportunity

The Location

Contact

Doc Center

Privacy

Site is classified as 'unrestricted reserve', so it can be built out for any commercial application

Carl Rasmussen Associate Director Mortgage Banking(713) 469-4514carl.rasmussen@berkadia.com

Address

3214 Anderson Road Houston, Texas, 77053

The Anderson Road Development Site is a 3.224-acre development opportunity located between the Texas Medical Center in Central Houston and Pearland, a top-tier, close-in suburb. The well-located site is platted as “unrestricted reserve” and has been fully cleared. While the site can be built out for any commercial application, full plans have been commissioned for a 124-unit mid-rise multifamily community. These plans are under review by the City of Houston, and the seller will assume permitting responsibility. The seller is also open to leasing the site versus an outright sale. This development site is well-positioned to capitalize on the booming growth occurring along the Highway 288/Beltway 8 corridor.

Investment Summary

size

3.1224 Acres

zoning

City of Houston does not have zoning. This site is platted "unrestricted reserve".

utilities

City of Houston

flood zone

Zone X

school district

Houston ISD

millage rate