12121 Richmond AveHouston, TX 77082

Property Details for 12121 Richmond Ave

Year built

1984

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.37 AC

Property size (Sq ft)

195,870 SF

Property type

Medical offices

Property subtype

Medical centers

APN

1221920010002

APU

1221920010002

Description

This Class A, four-story medical office building, totaling 172,202 square feet, is located at 12121 Richmond Ave, Houston, TX 77082, in Harris County. Built in 1985 and extensively renovated in 2023, the property boasts a modern exterior and elegantly redesigned lobby and common areas. The building offers 27 suites, with a minimum divisible space of 1,097 square feet and a maximum contiguous space of 6,251 square feet. Currently, 60,946 square feet of space is available for lease. Amenities include four elevators, ample parking (5 spaces per 1,000 square feet), a tenant conference center, two covered patient drop-offs, an on-site pharmacy, an outdoor patio, and on-site maintenance and property management. The building's convenient location near Westchase and the HCA Houston Healthcare West hospital campus makes it an ideal location for medical professionals. The property offers move-in-ready clinical suites, providing an excellent opportunity to establish or expand a medical practice within a thriving healthcare community. A delightful deli is also located on-site.

• CAP approach

  CAP return

  Valuation

  6%

  $40,114,500

  6.5%

  $37,028,772

  7%

  $34,383,860

• Comparable approach

  Method

  Valuation

  Relative Method

  $28,951,404

  Geo Method

  $58,641,520

• Alternative Use

  Use

  Valuation

  Residential

  $45,915,676

  Hospitality

  $42,058,512

  Educational

  $34,992,188

  Medical

  $36,195,624

  Retail

  $54,432,292

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.7299

Longitude

-95.5931

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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