5959 Richmond AveHouston, TX 77057

Property Details for 5959 Richmond Ave

Year built

1985

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.01 AC

Property size (Sq ft)

30,678 SF

Property type

Office buildings

APN

731870000067

APU

731870000067

Description

This four-story, 31,241 square foot building, constructed in 1984, offers a unique blend of retail and office space in a highly desirable Harris County location on Richmond Avenue near Fountain View. The building features a contemporary design with a striking multi-pillar exterior, a grand staircase, and exposed columns with geometric configurations. The structure sits on a concrete slab foundation with a steel frame and tinted glass storefront. The roof is a built-up tar and gravel system over rigid insulation on a metal deck. Windows throughout the building are tinted glass in anodized aluminum frames. A convenient elevator and a grand staircase on the south side provide access to all four floors. The first and second floors are designated for retail use, while the third and fourth floors are dedicated to office space. The property also includes an open, concrete paved parking area. This exceptional property presents a rare opportunity to acquire a well-maintained building with a strong architectural presence in a prime commercial area. The building's versatile layout and prominent location make it ideal for a variety of businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $6,282,906

  6.5%

  $5,799,605

  7%

  $5,385,348

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,534,494

  Geo Method

  $9,184,686

• Alternative Use

  Use

  Valuation

  Residential

  $7,191,510

  Hospitality

  $6,587,384

  Educational

  $5,480,626

  Medical

  $5,669,114

  Retail

  $8,525,419

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.7309

Longitude

-95.4839

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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