12002 Richmond AveHouston, TX 77082

Property Details for 12002 Richmond Ave

Year built

2003

Construction

STEEL FRAME

Lot size

1.44 AC

Property size (Sq ft)

16,994 SF

Property type

Retail properties

Property subtype

Strip malls

APN

1241600010001

APU

1241600010001

Description

This exceptional single-story, Class B commercial property, The Plazas at Royal Oaks, offers a unique blend of medical and creative office spaces within a thriving shopping center. Built in 2004, the 15,275 square foot building features nine suites, with 2,600 square feet currently vacant, offering flexible options ranging from 1,200 to 2,100 contiguous square feet. The property boasts 73 parking spaces, providing ample convenience for tenants and their clients. Its location near S Kirkwood Dr. in Harris County ensures excellent accessibility. The building is ideal for businesses seeking a versatile and well-situated space in a high-demand area. The surrounding Royal Oaks neighborhood demonstrates a strong economic profile, with a median home price exceeding that of 96.4% of Texas neighborhoods and 88.6% of US neighborhoods. This reflects a high concentration of residents in executive, management, and professional occupations, boasting an average household income of $79,282. Commuting patterns show a significant reliance on private vehicles (87.4%), supplemented by carpooling (6.7%) and bus usage (5.9%), indicating robust local transportation options. The property's location within a shopping center further enhances its visibility and accessibility, making it an attractive option for a variety of businesses. This is a rare opportunity to secure prime commercial space in a highly desirable and affluent area.

• CAP approach

  CAP return

  Valuation

  6%

  $5,116,187

  6.5%

  $4,722,634

  7%

  $4,385,304

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,329,915

  Geo Method

  $12,821,341

• Alternative Use

  Use

  Valuation

  Residential

  $3,983,719

  Hospitality

  $3,649,065

  Educational

  $3,035,979

  Medical

  $3,140,391

  Retail

  $4,722,634

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.7315

Longitude

-95.5899

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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