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    12000 Richmond Ave Houston, TX 77082

    Sponsored
    For Lease
    $15 SF/Yr

    West Houston Medical Office Space Available

    Lot size:
    75,226 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional three-story, 75,226 square foot medical office building in the West Houston Medical submarket presents a unique investment opportunity. Strategically located at the corner of Richmond Avenue and S. Kirkwood Road, this property boasts a prime location directly across from the West Houston Medical Center and Royal Oaks Country Club, ensuring high visibility and convenient access for patients and staff. The building features a striking three-story atrium, providing a welcoming and modern atmosphere. Ample parking is available with a 3.5/1,000 parking ratio, including free surface parking, covered parking, and reserved parking options. Security is a priority, with controlled building access and after-hours card-key access ensuring a safe and secure environment. Currently, there are 15 available spaces ranging from 422 to 5,559 square feet, suitable for a variety of medical practices. The building's prominent location allows for building and monument signage opportunities, enhancing visibility and brand recognition. Its proximity to numerous restaurants and retail establishments adds further convenience. The building's tenant mix includes established medical providers such as Memorial Hermann, reflecting its desirability and strong market position. This is an exceptional opportunity to secure space in a thriving medical hub.

    Property Features for 12000 Richmond Ave

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    75,226 SF
    Total Rate
    94032.5

    Building Details

    Stories
    3

    Unit(s) available at that property

    Space
    Suite 223
    Size
    1,920 SF
    Rate per SF
    $19
    Space
    Suite 325
    Size
    1,300 SF
    Rate per SF
    $19
    Space
    Suite 345
    Size
    1,149 SF
    Rate per SF
    $19
    Space
    Suite 370
    Size
    1,933 SF
    Rate per SF
    $19
    Space
    Suite 315
    Size
    1,710 SF
    Rate per SF
    $19
    Space
    Suite 180
    Size
    1,304 SF
    Rate per SF
    $21
    Space
    Suite 348
    Size
    422 SF
    Rate per SF
    $19
    Space
    Suite 350
    Size
    1,650 SF
    Rate per SF
    $19
    Space
    Suite 140
    Size
    1,406 SF
    Rate per SF
    $21
    Space
    Suite 320
    Size
    1,953 SF
    Rate per SF
    $19
    Space
    Suite 110
    Size
    633 SF
    Rate per SF
    $21
    Space
    Suite 100
    Size
    948 SF
    Rate per SF
    $21
    Space
    Suite 250
    Size
    5,559 SF
    Rate per SF
    $19
    Space
    Suite 353
    Size
    824 SF
    Rate per SF
    $15
    Space
    220-A
    Size
    1,098 SF
    Rate per SF
    $19

    HighLights

    • 75,226 SF, three‑story medical office building in the West Houston Medical submarket of Harris County.
    • 15 suites available, ranging from 422 SF to 5,559 SF.
    • 3.5/1,000 parking ratio with free surface parking, covered parking, and reserved parking options.
    • Prime location at Richmond Avenue and S. Kirkwood Road, across from West Houston Medical Center and Royal Oaks Country Club.
    • Building and monument signage opportunities available.
    • Features an atrium, controlled access, and after‑hours card‑key access.
    Property Profile Location Intelligence

    Current Use by Public Records

    Akkerman Rhonda Psychologist Dr. Kirandeep Kaur, ... Psychiatrist Pain & Rehabilitation Solutions Physical Therapy Clinic Inclusive MRI & diagnostics Mri Center Xhilarate Wellness Spa Weight Loss Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.5909994
    Latitude
    29.73137241

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    FAQs

    What type of property is this?
    Medical office - West Houston Medical Office Space Available
    Where is this medical office located?
    The property is located at 12000 Richmond Ave Houston, TX.
    What is the lease rate?
    The lease rate is $15-$21 SF/Yr.
    What are key features of this property?
    This property features: 75,226 SF, three-story medical office building in the West Houston Medical submarket of Harris County.; 15 suites available, ranging from 422 SF to 5,559 SF.; 3.5/1,000 parking ratio with free surface parking, covered parking, and reserved parking options.
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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.

    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
    12000 Richmond Ave Houston, TX 77082
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