BigRed Posted July 15, 2022 Share Posted July 15, 2022 Anyone know what the deal is with this property? Seems like a clutch location and potentially some great charm. Quote Link to comment Share on other sites More sharing options...
j_cuevas713 Posted July 17, 2022 Share Posted July 17, 2022 My job is literally right behind this building. It's def prime real estate. Ancorian is developing the block caddy corner so it's only a matter of time. 1 Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted March 29, 2023 Share Posted March 29, 2023 (edited) The 19,800-square-foot property, located at 222 W 19th St, sits on 0.45 acres of land. 222 W 19th St is in the Heights. The lot is between 204 W 19th St (where PNC Bank and Hassler Dermatology are located) and 226 W 19th St. Parcel map of 222 West 19th Street January 2022 Google Earth images Edited March 29, 2023 by IntheKnowHouston Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted March 29, 2023 Share Posted March 29, 2023 January 2023 Streetview of 222 W 19th St. Label Warehouse previously occupied the property. Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted March 29, 2023 Share Posted March 29, 2023 2017 Streetview of the back of 222 W 19th St Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted March 29, 2023 Share Posted March 29, 2023 Posts pertaining to Label Warehouse at 222 W 19th St. The posts are from the topic about the forthcoming 19th & Yale mixed-use, which is located at 1903 Yale (the site of the former Sand Dollar Thrift Store). On 3/19/2017 at 10:21 AM, txcat84 said: First of all, I'm not being "let's demolish everything that helps po folk" guy. This is a genuine inquiry. How does Label Warehouse...stay in business? I imagine the tax rate on those places is insane, and while I do see people shop there, I can't imagine it's enough revenue to cover (letter alone profit). Is there some sort of subsidy or tax shelter for businesses like these? Has no one thought this would be a good indie movie theatre or retail spot? Just curious. On 3/19/2017 at 4:23 PM, Ross said: Being pedantic, the tax rate for those buildings is the same as for any other building with the same taxing entities. Total taxes vary on property value and any exemptions... the label warehouse owners paid $29k. Neither of those amounts is that high, and the business model for those types of stores are to buy stock for almost nothing, and get it out the door for a 300% markup, with prices that are much less than a regular retail establishment. The label warehouse owners have several other stores in Houston, all of them owned for some time, so their carry costs are probably minimal, as they acquired them when property was much cheaper. On 3/20/2017 at 8:43 AM, Angostura said: Carrying costs are one part of the equation; opportunity cost is the other. It's not inconceivable that they could sell a location on 19th and buy 3 others in less expensive parts of the city. However, in close proximity to these two, there's a relatively new Goodwill on 20th, the Value Village on 23rd, and any number of "antique" shops that aren't too far removed from the same business model. I suspect there's value to both customer and proprietor in this kind of clustering, and wouldn't expect these stores to go away anytime soon. On 3/20/2017 at 11:03 AM, s3mh said: As best I can tell... Label Warehouse owns the dirt they are on through related entities. The appraised value for... 222 W 19 went from 712k to 1.152 mil over the same period. You may be able to keep the lights on with those taxes, but having your tax bill go up while your main clientele gets gentrified out of the area is something that is not sustainable in the long term. But you never know what the motivations are behind the people who hold on to properties in the Heights. Why does Solar Supply still maintain a warehouse on Waverly in the middle of a residential area where the property tax appraisal has gone from 1.1 mil to 2.3 mil in four years? Why has the owner of the old National Flame and Forge site just let it sit for years? Why does Weingarten sit on a cruddy strip mall with a beat up old Kroger while HEB is racing into the market with a shiny new store down the street? Is the Happy All Cafe a front? I suspect it largely depends on everyone's sense of how to time the market and whether they are satisfied with the cash flow they get from the existing use. I am always surprised by the number of people who are just happy to sit on an asset with half decent cash flow and have no interest in selling or redeveloping. Just because a property owner can do something to make a good return does not mean that they are going to do it. On 3/21/2017 at 9:02 AM, innerloop said: I think that's where you're right. I give the owners credit that they know how much money they could make by selling. But then where are you going to invest the money next? With the uncertainties of Trump, Brexit, sub-$50 oil, etc. I bet that these people and many others figure that land in the Heights, even with increasing taxes, is still a wise investment with more potential upside. On 3/21/2017 at 9:12 AM, Angostura said: There's also a strong bias in favor of doing nothing, especially in the case of family-owned properties. As long as the status quo is financially tenable, there's a fair amount of emotional inertia to overcome before these properties move. Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted March 29, 2023 Share Posted March 29, 2023 222 W 19th St, the site of Label Warehouse, is on the market. Hein Properties is marketing the property on behalf of the seller. Details pertaining the property from the listing: This property offers a remarkable location just west of the 19th St & Yale St intersection. 19th St is one of the most prominent thoroughfares in The Heights offering many retail and dining options in and a walkable small town vibe. This is an amazing opportunity for a variety of retail and/or office uses along perhaps the most vital retail corridor in The Heights. The building was previously occupied by a retail clothing store and is likely grandfathered for that use. Year Built: 1950 Building Size: 15,000 SF Total Lot Size: 19,798 SF https://heinsproperties.squarespace.com/inventory?propertyId=222-W-19th-St https://buildout.com/plugins/inventory/222-W-19th-St/view?document=1123196 https://www.crexi.com/lease/properties/610098/texas-222-w-19th-st https://api-lease.crexi.com/assets/610098/flyer https://www.loopnet.com/Listing/222-W-19th-St-Houston-TX/15475994/ Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted March 29, 2023 Share Posted March 29, 2023 Below are interior photos of 222 W 19th St. The photos are from the sales listing on Hein Properties' website. 1 Quote Link to comment Share on other sites More sharing options...
NB_Brendan Posted March 29, 2023 Share Posted March 29, 2023 31 minutes ago, IntheKnowHouston said: Below are interior photos of 222 W 19th St. The photos are from the sales listing on Hein Properties' website. So eerie Quote Link to comment Share on other sites More sharing options...
s3mh Posted March 29, 2023 Share Posted March 29, 2023 Not sure what is new here. Property has been for lease since 2018 with Heins as the offering broker. 1 Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted March 30, 2023 Share Posted March 30, 2023 18 hours ago, s3mh said: Not sure what is new here. Property has been for lease since 2018 with Heins as the offering broker. I don't think there is anything new. And while I know this property has been available for lease for years, there isn't a topic about it. With a created topic, people can share updates or anything pertaining to this building. The building seems to have good bones. Whichever tenant signs on, I hope they don't get rid of the sign. To me, the sign is what gives this building character. 1 Quote Link to comment Share on other sites More sharing options...
BigRed Posted March 31, 2023 Author Share Posted March 31, 2023 It’s a little shocking this isn’t a hotter spot for new life. Cool facade and great bones… what gives?! 3 Quote Link to comment Share on other sites More sharing options...
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