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    Medical Office Space in Houston Title is generated by Realmo AI

    1200 Binz St, Houston, TX 77004

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    Ideally positioned medical office building connected to HCA Houston Healthcare.

    Type:Office
    Added:
    Dec 5, 2022
    Days on Market:
    1278
    Last Refresh:
    May 12 at 10:08 pm

    Property Features for 1200 Binz St

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1985

    We can help!

    Listing Contact
    Danielle Parsons

    Listing agent Danielle Parsons License #837434

    Listing office CBRE - Houston Galleria

    Listing date Dec 5, 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 CBRE - Houston Galleria

    HighLights

    • Connected via skybridge to HCA Houston Healthcare Medical Center.
    • Located across from Texas Medical Center, the world's largest medical center.
    • Synergistic tenant roster including UT Physicians and Quest Diagnostics.
    • Enjoy ground‑floor restaurants: Fia's Pizzeria and Bodega's Taco Shop.
    • Located in the heart of the Museum District, steps from 19 museums and Hermann Park.
    • Easily accessible with proximity to I‑69, garage parking, and on‑site METRORail (Red Line).

    Overview

    Located in southwest Houston, Texas, 1200 Binz is a medical office building connected to the HCA Houston Healthcare Medical Center via a skybridge. The building features suites and a tenant roster including UT Physicians, Diagnostic Clinic of Houston, Quest Diagnostics, and Picture Perfect Imaging Center. Situated across Hermann Park, 1200 Binz is near the Texas Medical Center, a large medical center with a network of over 50 hospitals, research institutions, and clinics. The Texas Medical Center employs over 100,000 people and admits more than 6 million patients annually. Ground-floor restaurants include Fia's Pizzeria and Bodega's Taco Shop. The building is located in the Museum District, steps from 19 museums, shops and restaurants, Hermann Park with the Houston Zoo, and Rice University. Strategically situated three miles southwest of Houston, 1200 Binz is accessible with a half-mile to I-69 and South Freeway, garage parking, and an on-site METRORail station servicing the Red Line.
    Property Profile Location Intelligence

    Current Use by Public Records

    Plaza Medical In Houston ... Hotel & Motel Fia's Pizzeria Restaurant Diagnostic Clinic of Houston Medical Clinic The Allergy Clinic Physician Diagnostic Clinic of Houston: ... Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • PetWell Partners — 4203 Yoakum Blvd Suite 250, Houston, TX 77006
    • CAWLM Veterinary Hospital — 4902 San Jacinto St, Houston, TX 77004
    • Skyline Animal Hospital — 5108 Almeda Rd, Houston, TX 77004

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.3874958
    Latitude
    29.7234453

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    FAQs

    What type of property is this?
    Medical Office Space - Ideally positioned medical office building connected to HCA Houston Healthcare.
    Where is this medical office space located?
    The property is located at 1200 Binz St Houston, TX.
    What are key features of this property?
    This property features: Connected via skybridge to HCA Houston Healthcare Medical Center.; Located across from Texas Medical Center, the world's largest medical center.; Synergistic tenant roster including UT Physicians and Quest Diagnostics.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Danielle Parsons
    Real Estate License ID: 837434
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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.

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