Renovated Office
For Sale
Contact for pricing
4900 Travis Street, Houston, TX 77002
Renovated office property near Main Street with access to Downtown, TMC, and Rice University.
Property Size8,888 SF
Price / SF$410.67
Days on Market10
Property Features for 4900 Travis Street
General Information
Standard status
Active
Size
8,888 SF
Property subtype
OFFICE
Occupancy
58%
Net Operating Income
$76,000
Building Details
Year Built
1951
Building Size
8,888 SF
Listing Agency:
Davis Commercial
(713) 528-9776
Listed By:
Mark Davis · License #409852
Source:
Moodyscre
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 29 at 3:44PM
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.
This 8,888-square-foot office building has undergone renovation and is configured for professional office use. The property was designed in 1951 by Houston architect Philip G. Willard, adding a documented architectural history to the asset.
Located one block from Main Street in Houston’s Museum District, the building offers access to Downtown, the Texas Medical Center, and Rice University. The property is 58% occupied with short-term leases, providing an existing leasing profile for an investor or owner-user evaluating the opportunity.
Located one block from Main Street in Houston’s Museum District, the building offers access to Downtown, the Texas Medical Center, and Rice University. The property is 58% occupied with short-term leases, providing an existing leasing profile for an investor or owner-user evaluating the opportunity.
Key Highlights
- 8,888 SF renovated office building
- Designed in 1951 by Houston architect Philip G. Willard
- One block from Main Street in the Museum District
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
$103,670
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
2.84%
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%
$2,073,400
$2.1M
Cap Rate 7%
$1,481,000
$1.5M
Cap Rate 9%
$1,151,889
$1.2M
Market Conditions
NOI Build-Up for 8,888 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
$192.0K $21.60/SF
− Vacancy
−$53.8K −$6.05/SF
EGI
$138.2K $15.55/SF
− OpEx
−$34.6K −$3.89/SF
NOI
$103.7K $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%
$2,073,400
Cap Rate 7%
$1,481,000
Cap Rate 9%
$1,151,889
Alternative Uses
Best Use
Office B
$1.48M
$1.30M – $1.73M
NOI $103,670 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $159,984 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
58%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,991
Businesses Nearby
Explore this area
Business Placement
Demographics for 77002, TX
19,844
Population
8,960
Households
2.2
Avg Household Size
34
Median Age
37%
College-Educated
86%
High-School Grad
2.0 sq mi
ZIP Area
9,922
Density / Sq Mi
$85,436
Median Household Income
$54,755
Median Earnings
$1,860
Median Rent
$286,100
Median Home Value
Market
Vacancy Rate% for Office in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated office property near Main Street with access to Downtown, TMC, and Rice University.
Where is this office building located?
The property is located at 4900 Travis Street Houston, TX.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: 8,888 SF renovated office building; Designed in 1951 by Houston architect Philip G. Willard; One block from Main Street in the Museum District
