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    6161 Savoy Dr Houston, TX 77036

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    For Lease
    Contact for pricing

    Prime Houston office, flexible suites.

    Lot size:
    219,100 SF

    Property Features for 6161 Savoy Dr

    General Information

    Property type
    Office Units
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    219,100 SF
    Class
    B
    Total Rate
    310391.67

    Building Details

    Year Built/Renovated
    1974/1999
    Buildings
    1
    Stories
    12

    Spaces For Lease

    at 6161 Savoy Dr, Houston, TX 77036 Contact us
    Unit 1040

    $18 /Mo

    Size
    954 SF
    Contact us
    Unit 132

    $22 /Mo

    Size
    995 SF
    Contact us
    Unit 240

    $22 /Mo

    Size
    1,582 SF
    Contact us
    Unit 550

    $22 /Mo

    Size
    6,652 SF
    Contact us
    Unit 600

    $22 /Mo

    Size
    5,495 SF
    Contact us
    Unit 618

    $22 /Mo

    Size
    1,079 SF
    Contact us
    Unit 310

    $22 /Mo

    Size
    2,170 SF
    Contact us
    Unit 800

    $22 /Mo

    Size
    1,790 SF
    Contact us
    Unit 822

    $22 /Mo

    Size
    1,353 SF
    Contact us
    Unit 1020

    $22 /Mo

    Size
    2,265 SF
    Contact us
    Unit 1210

    $22 /Mo

    Size
    1,176 SF
    Contact us
    Unit 1238

    $22 /Mo

    Size
    2,732 SF
    Contact us
    Unit 409

    $18 /Mo

    Size
    2,455 SF
    Contact us
    Unit 226

    $18 /Mo

    Size
    827 SF
    Contact us
    Unit 400

    $18 /Mo

    Size
    1,212 SF
    Contact us
    Unit 1040

    $18 /Mo

    Size
    954 SF
    Contact us
    Unit 1132

    $18 /Mo

    Size
    1,043 SF
    Contact us
    Unit 1132

    $18 /Mo

    Size
    1,043 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Tara Oliver

    Listing Agency: Oliver Commercial Real Estate Listing Agent: Tara Oliver

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This twelve-story, Class B office building at 6161 Savoy Dr, Houston, TX 77036, offers a variety of spaces ideal for businesses of all sizes. The building totals 219,100 square feet, with units ranging from a minimum of 341 square feet to a maximum contiguous space of 6,652 square feet. Currently, 42,264 square feet is available. Built in 1974 and renovated in 1999, the property sits on 5.44 acres of land and includes 765 parking spaces and elevators. Its location provides convenient access to major highways and is near diverse dining, retail, and entertainment options. The building's proximity to the Galleria and Westchase District offers tenants a prestigious and thriving business environment. This multi-tenant building presents a unique opportunity to establish a presence in a highly sought-after Houston location. The property is categorized as Traditional, Creative, and Executive Office space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    APG&E Electric Utility Company David Michael Ryan ... Law Firm K Chen Engineering Engineering Consultant Texan Insurance Insurance Agency AQTS-USA Business Management Consultant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.504531812181
    Latitude
    29.715920114114

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    FAQs

    What type of property is this?
    Office units - Prime Houston office, flexible suites.
    Where is this office units located?
    The property is located at 6161 Savoy Dr Houston, TX.
    What is the lease rate?
    The lease rate is $18-$22 SF/Yr.
    What are key features of this property?
    This property features: 12-story, 219,100 SF Class B office building in Houston, TX.; Units range from 341 SF to 6,652 SF contiguous; 42,264 SF currently available.; Built in 1974, renovated in 1999, situated on 5.44 acres with 765 parking spaces and elevators.
    (281) 558-1111 Call to check price and availability
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    6161 Savoy Dr Houston, TX 77036
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    Houston, TX 77036
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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.

    More about this property
    6161 Savoy Dr Houston, TX 77036
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tara Oliver
    Real Estate License ID: 651797
    (281) 558-1111
    Learn more
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