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    11011 Richmond Ave. Houston, TX 77042

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    Nine-story office building in Houston's Westchase District.

    Type:Office
    Added:
    Feb 17, 2022
    Days on Market:
    1521
    Last Refresh:
    Mar 17 at 1:18 pm

    Property Features for 11011 Richmond Ave.

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1983

    Spaces For Lease

    at 11011 Richmond Ave. Contact us

    Suite 765 $27 /Mo

    Size
    128 SF
    Type
    Office
    Interior office for 1. Includes shared waiting areas, conference rooms, huddle rooms,...
    show more
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    Suite 170 $23 /Mo

    Size
    370 SF
    Type
    Office
    Window office includes shared waiting areas, conference rooms, huddle rooms, lounge,...
    show more
    Contact us

    Suite 710 $24 /Mo

    Size
    295 SF
    Type
    Office
    Window office includes shared waiting areas, conference rooms, huddle rooms, lounge,...
    show more
    Contact us

    Suite 980 $17 /Mo

    Size
    4,082 SF
    Type
    Office
    6 Window Offices, 3 Interior Offices, 1 Bullpen, Open Area, Corner Location
    Contact us

    Suite 734 $23 /Mo

    Size
    330 SF
    Type
    Office
    Window office includes shared waiting areas, conference rooms, huddle rooms, lounge,...
    show more
    Contact us

    Suite 430 $17 /Mo

    Size
    1,803 SF
    Type
    Office
    One window office, two interior offices and a large bullpen.
    Contact us

    Suite 744 $22 /Mo

    Size
    1,389 SF
    Type
    Office
    Private reception area and 2 window office, 1 Interior Office, Includes shared conference...
    show more
    Contact us

    Suite 870 $22 /Mo

    Size
    2,283 SF
    Type
    Office
    Private reception area and 5 Window Offices, 3 Interior Offices. Includes shared...
    show more
    Contact us

    Suite 714 $24 /Mo

    Size
    299 SF
    Type
    Office
    Window office includes shared waiting areas, conference rooms, huddle rooms, lounge,...
    show more
    Contact us

    Suite 776 $23 /Mo

    Size
    795 SF
    Type
    Office
    Window office includes shared waiting areas, conference rooms, huddle rooms, lounge,...
    show more
    Contact us

    Suite 157 $23 /Mo

    Size
    160 SF
    Type
    Office
    Interior office for 1. Includes shared waiting areas, conference rooms, huddle rooms,...
    show more
    Contact us

    Suite 713 $21 /Mo

    Size
    316 SF
    Type
    Office
    Interior office includes shared waiting areas, conference rooms, huddle rooms, lounge,...
    show more
    Contact us

    Suite 100.WS $22 /Mo

    Size
    7,385 SF
    Type
    Office
    Double glass entry with reception, 19 window offices, 9 interior offices, conference...
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    Contact us

    Suite 772 $24 /Mo

    Size
    270 SF
    Type
    Office
    Window office includes shared waiting areas, conference rooms, huddle rooms, lounge,...
    show more
    Contact us

    Suite 825 $22 /Mo

    Size
    1,998 SF
    Type
    Office
    5 Window office, Open Area. Includes shared waiting areas, conference rooms, huddle...
    show more
    Contact us

    Suite 726 $22 /Mo

    Size
    1,356 SF
    Type
    Office
    Private reception area and 2 window office, 1 Interior Offices Includes shared conference...
    show more
    Contact us

    Suite 525 $18 /Mo

    Size
    5,628 SF
    Type
    Office
    4 Window Offices, 3 Interior Offices, 1 Bullpen, Open Area, Corner Location, 2 EntrancesnMonthly...
    show more
    Contact us

    Suite 159 $23 /Mo

    Size
    228 SF
    Type
    Office
    Interior office includes shared waiting areas, conference rooms, huddle rooms, lounge,...
    show more
    Contact us

    Suite 167 $23 /Mo

    Size
    160 SF
    Type
    Office
    Interior office for 1. Includes shared waiting areas, conference rooms, huddle rooms,...
    show more
    Contact us

    Suite 770 $24 /Mo

    Size
    280 SF
    Type
    Office
    Window office includes shared waiting areas, conference rooms, huddle rooms, lounge,...
    show more
    Contact us

    Suite 111 $18 /Mo

    Size
    911 SF
    Type
    Office
    Training Room & building janitorial.
    Contact us

    Suite 712 $24 /Mo

    Size
    299 SF
    Type
    Office
    Window office includes shared waiting areas, conference rooms, huddle rooms, lounge,...
    show more
    Contact us

    Suite 710.WS $21 /Mo

    Size
    13,255 SF
    Type
    Office
    Reception Area, 29 Window Offices, 10 Interior Offices, 1 Conference Room, Corner...
    show more
    Contact us

    Suite 169 $23 /Mo

    Size
    187 SF
    Type
    Office
    Interior office for 1. Includes shared waiting areas, conference rooms, huddle rooms,...
    show more
    Contact us

    Suite 600 $17 /Mo

    Size
    3,159 SF
    Type
    Office
    Reception Area, 4 Window Offices, 1 Conference Room, 1 Bullpen, Break Area, Sink,...
    show more
    Contact us

    Suite 168 $24 /Mo

    Size
    358 SF
    Type
    Office
    Window office includes shared waiting areas, conference rooms, huddle rooms, lounge,...
    show more
    Contact us

    Suite 470 $17 /Mo

    Size
    1,909 SF
    Type
    Office
    Reception Area, 5 Window Offices, Open Area, Corner Location
    Contact us

    Suite 754 $24 /Mo

    Size
    270 SF
    Type
    Office
    Window office includes shared waiting areas, conference rooms, huddle rooms, lounge,...
    show more
    Contact us

    Suite 615 $19 /Mo

    Size
    2,620 SF
    Type
    Office
    Reception Area, 5 Window Offices, 3 Interior Offices, 1 Conference Room, Kitchen,...
    show more
    Contact us

    Suite 736 $24 /Mo

    Size
    298 SF
    Type
    Office
    Window office includes shared waiting areas, conference rooms, huddle rooms, lounge,...
    show more
    Contact us

    Suite 505 $18 /Mo

    Size
    7,252 SF
    Type
    Office
    Reception Area, 10 Window Offices, 5 Interior Offices, 2 Bullpens, Open Area, Break...
    show more
    Contact us

    Suite 375 $18 /Mo

    Size
    5,433 SF
    Type
    Office
    9 Window Offices, 1 Conference Room, 1 Bullpen, Open Area, Break Area, 1 Closets,...
    show more
    Contact us

    Suite 740 $26 /Mo

    Size
    298 SF
    Type
    Office
    Window office includes shared waiting areas, conference rooms, huddle rooms, lounge,...
    show more
    Contact us

    Suite 774 $26 /Mo

    Size
    278 SF
    Type
    Office
    Window office includes shared waiting areas, conference rooms, huddle rooms, lounge,...
    show more
    Contact us

    Suite 365 $18 /Mo

    Size
    975 SF
    Type
    Office
    1 Large Open Window Office with closet.
    Contact us
    Show more

    We can help!

    Listing Contact
    Trey Miller

    Listing agent Trey Miller License #TX

    Listing office Boxer Property

    Listing date Feb 17, 2022

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Boxer Property

    Overview

    Richmond Avenue Office Building

    Columbia Centre is a nine-story, glass high-rise office building situated in the Richmond corridor at Wilcrest, within the Westchase District. The building has received the Energy Star award every year since 2007. It features a recently renovated lobby, on-site management, card-key access, and 24-hour security. A first-floor Workstyle space is planned for the near future, with pre-leasing options available. The property is surrounded by upscale residential neighborhoods and various amenities, including restaurants, retail options, and hotels.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mantis Innovation Engineering Consultant Motto Mortgage Epic Loan Service Christian Albert Motto ... Loan Service EMEX, LLC Corporate Office Michelle Tran Motto ... Loan Service

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.570468
    Latitude
    29.7268527

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    FAQs

    What type of property is this?
    Office building - Nine-story office building in Houston's Westchase District.
    Where is this office building located?
    The property is located at 11011 Richmond Ave. Houston, TX.
    What are key features of this property?
    This property features: Prime location in the Westchase District, Richmond corridor at Wilcrest, surrounded by upscale residential neighborhoods, restaurants, retail, and hotels.; Energy Star certification received every year since 2007, indicating energy efficiency and lower operating costs.; Recently renovated lobby providing a modern and professional first impression.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Trey Miller
    Real Estate License ID: TX
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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