Office Building Near Museum
5005 Caroline St Houston, TX 77004
For Sale
Contact for pricing
Office building for sale near Houston's Museum District.
Property Size4,047 SF
Price / SF$222.14
Days on Market632
Property Features for 5005 Caroline St
General Information
- Standard status
- Active
- Size
- 4,047 SF
- Property subtype
- Office
Listing Agency:
S&P Interests
(713) 766-4500
Listed By:
Joshua Sebesta · License #TX
Source:
Crexi
Added: Nov 1, 2024
Changed: Jul 6
Last Checked: Jul 25 at 3:07AM
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 S&P Interests
Investment Insights
Based on property information with market context.
This 4,047-square-foot office building is located in close proximity to the museum district, Rice University, Downtown, and the Texas Medical Center. The property is surrounded by new residential and commercial development. On-site gated parking is available.
Key Highlights
- Gated parking on site
- Close proximity to Texas Medical Center
- Close proximity to Downtown
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $87.4k | $21.60 |
| − Vacancy | −$24.5k | −$6.05 |
| EGI | $62.9k | $15.55 |
| − OpEx | −$15.7k | −$3.89 |
| NOI | $47.2k | $11.66 |
4,047 SF · lease $21.60/SF/yr · vacancy 28.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$674.3K
$590.1K – $786.7K
NOI $47,204 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$910.6K – $1.21M
NOI $72,846 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Antonino Deleza
Eye Care
FAQs
What type of property is this?
Office building - Office building for sale near Houston's Museum District.
Where is this office building located?
The property is located at 5005 Caroline St Houston, TX.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Gated parking on site; Close proximity to Texas Medical Center; Close proximity to Downtown
