12000 Richmond AveHouston, TX 77082

Property Details for 12000 Richmond Ave

Year built

1985

Construction

STEEL FRAME

Lot size

3.68 AC

Property size (Sq ft)

78,000 SF

Property type

Medical offices

Property subtype

Medical centers

APN

1165130000002

APU

1165130000002

Description

This exceptional three-story, 75,226 square foot medical office building in the West Houston Medical submarket presents a unique investment opportunity. Strategically located at the corner of Richmond Avenue and S. Kirkwood Road, this property boasts a prime location directly across from the West Houston Medical Center and Royal Oaks Country Club, ensuring high visibility and convenient access for patients and staff. The building features a striking three-story atrium, providing a welcoming and modern atmosphere. Ample parking is available with a 3.5/1,000 parking ratio, including free surface parking, covered parking, and reserved parking options. Security is a priority, with controlled building access and after-hours card-key access ensuring a safe and secure environment. Currently, there are 15 available spaces ranging from 422 to 5,559 square feet, suitable for a variety of medical practices. The building's prominent location allows for building and monument signage opportunities, enhancing visibility and brand recognition. Its proximity to numerous restaurants and retail establishments adds further convenience. The building's tenant mix includes established medical providers such as Memorial Hermann, reflecting its desirability and strong market position. This is an exceptional opportunity to secure space in a thriving medical hub.

• CAP approach

  CAP return

  Valuation

  6%

  $15,974,529

  6.5%

  $14,745,720

  7%

  $13,692,454

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,529,124

  Geo Method

  $23,352,420

• Alternative Use

  Use

  Valuation

  Residential

  $18,284,692

  Hospitality

  $16,748,680

  Educational

  $13,934,705

  Medical

  $14,413,941

  Retail

  $21,676,208

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.7314

Longitude

-95.591

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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