3403 Richmond AveHouston, TX 77046

Property Details for 3403 Richmond Ave

Year built

1966

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.21 AC

Property size (Sq ft)

50,735 SF

Property type

Retail properties

Property subtype

Banks

APN

410170050077

APU

410170050077

Description

This exceptional mixed-use property, located at the southwest corner of Richmond Avenue and Buffalo Speedway in Houston, Texas (77046), presents a unique investment opportunity. The 42,334 square foot building, constructed in 1979, sits on a generous 2.21-acre lot (approximately 96,268 square feet). The three-story structure is classified as Class B and currently features three units, adaptable to a variety of uses. Its zoning allows for hospitality, multifamily, office, and retail uses, making it highly versatile. The property's prime location offers excellent visibility and accessibility, with proximity to Transwestern Development The RO. City of Houston utilities are in place. This location provides significant development potential for investors seeking to capitalize on the thriving Houston market. The property's size and zoning flexibility offer a wide range of redevelopment possibilities, from expanding existing uses to creating entirely new concepts. This is an exceptional opportunity to acquire a substantial property in a high-demand area with significant upside potential. The property's existing infrastructure and convenient location make it an attractive investment for both short-term and long-term growth.

• CAP approach

  CAP return

  Valuation

  6%

  $15,274,200

  6.5%

  $14,099,262

  7%

  $13,092,171

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,897,742

  Geo Method

  $38,277,672

• Alternative Use

  Use

  Valuation

  Residential

  $11,893,255

  Hospitality

  $10,894,157

  Educational

  $9,063,811

  Medical

  $9,375,529

  Retail

  $14,099,262

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.7332

Longitude

-95.4296

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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