Elevator-Served Updated Office
For Sale
Contact for pricing
4625 Lillian Street, Houston, TX 77007
Elevator-served updated office building on a full-block inner loop site with quick access to I-10 and central Houston areas.
Property Size23,320 SF
Lot Size1.50 Acres
Price / SF$342.62
Days on Market84
Property Features for 4625 Lillian Street
General Information
Standard status
Active
Size
23,320 SF
Elevators
Yes
Lot size
1.50 Acres
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Building Size
23,320 SF
Listing Agency:
Davis Commercial
(713) 528-9776
Listed By:
Mark Davis · License #409852
(972) 387-0300
Source:
Moodyscre
Added: Jun 19
Changed: Sep 4
Last Checked: Sep 9 at 6:16PM
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 Davis Commercial
Investment Insights
Based on property information with market context.
An elevator-served, updated office building offering 23,320 SF within a 1.5-acre inner loop site. The property is presented as a rare assemblage of a full block in the Memorial Heights/Washington Corridor, supported by a floor plan described as efficient with a high office count.
For convenience and connectivity, the location provides quick access to I-10, Downtown, The Heights, and River Oaks. The asset is also available for lease.
The building is offered as-is for user occupancy, while its full-block configuration also supports redevelopment planning for buyers seeking to reposition the site.
For convenience and connectivity, the location provides quick access to I-10, Downtown, The Heights, and River Oaks. The asset is also available for lease.
The building is offered as-is for user occupancy, while its full-block configuration also supports redevelopment planning for buyers seeking to reposition the site.
Key Highlights
- 23,320 SF updated office building
- 1.5‑acre inner loop site
- Rare assemblage of a full block in Memorial Heights/Washington Corridor
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$272,004
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,440,080
$5.4M
Cap Rate 7%
$3,885,771
$3.9M
Cap Rate 9%
$3,022,267
$3.0M
Market Conditions
NOI Build-Up for 23,320 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$503.7K $21.60/SF
− Vacancy
−$141.0K −$6.05/SF
EGI
$362.7K $15.55/SF
− OpEx
−$90.7K −$3.89/SF
NOI
$272.0K $11.66/SF
Area
Houston, TX
Vacancy
28.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,440,080
Cap Rate 7%
$3,885,771
Cap Rate 9%
$3,022,267
Alternative Uses
Best Use
Office B
$3.89M
$3.40M – $4.53M
NOI $272,004 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.00M
$5.25M – $7.00M
NOI $419,760 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,441
Businesses Nearby
Explore this area
Business Placement
Demographics for 77007, TX
42,908
Population
26,281
Households
1.6
Avg Household Size
34
Median Age
80%
College-Educated
99%
High-School Grad
7.5 sq mi
ZIP Area
5,721
Density / Sq Mi
$140,878
Median Household Income
$92,408
Median Earnings
$1,951
Median Rent
$501,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Houston, TX
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Frequently Asked Questions
What type of property is this?
Office building - Elevator-served updated office building on a full-block inner loop site with quick access to I-10 and central Houston areas.
Where is this office building located?
The property is located at 4625 Lillian Street Houston, TX.
What is the asking price?
The asking price for this property is $7,990,000.
What are key features of this property?
This property features: 23,320 SF updated office building; 1.5‑acre inner loop site; Rare assemblage of a full block in Memorial Heights/Washington Corridor
