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    7600 San Felipe St Houston, TX 77063

    Sponsored
    For Lease
    Contact for pricing

    7,500 SF Available; Prime Location

    Lot size:
    14,490 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    419
    This exceptional 7,500 square foot executive office space presents a unique opportunity in the highly desirable Galleria area of Houston, Harris County. Situated within a 14,490 square foot, two-story Class C building constructed in 1978, this property boasts a prime location at the corner of Woodway Drive and San Felipe Street, near the intersection of San Felipe and Voss. The building features a security system with cameras, ensuring a safe and secure environment for tenants. Ample parking is provided with a 3.8 per 1,000 square foot ratio in a gated surface lot, including covered parking options. The building's convenient location offers easy access to major thoroughfares, including I-10 via Voss Road and I-610 via San Felipe Street, providing seamless commutes for employees and clients. Surrounding the property are various office buildings, residential communities, and retail establishments, creating a vibrant and convenient environment. This multi-tenant building offers immediate occupancy for a single tenant seeking a substantial space or multiple tenants seeking smaller suites. The property is ideal for businesses seeking a prestigious address with excellent accessibility and ample parking in a well-established area. This is a rare opportunity to secure a significant footprint in a thriving Houston submarket.

    Property Features for 7600 San Felipe St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    14,490 SF
    Class
    C

    Building Details

    Year Built
    1978
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Suite 200
    Size
    7,500 SF

    We can help!

    Listing Contact
    Douglas Pack
    Douglas Pack

    Learn more

    Property Insight Report

    HighLights

    • 14,490 SF Class C office building in Harris County.
    • 7,500 SF of vacant executive office space available.
    • Two‑story building constructed in 1978 with one building.
    • 3.8 parking spaces per 1,000 square feet in a gated surface lot; covered parking available.
    • Excellent location near the intersection of San Felipe and Voss, providing easy access to the Galleria area and major freeways (I‑10 and I‑610).
    • Security system and cameras on site.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lion IT Solutions Software Company Watermark Companies Consultant SKH PERSONNEL Consultant WaterLogic, Inc. Irrigation Equipment Supplier Hicks Ventures Corporate Office

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.503296532897
    Latitude
    29.750625002796

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    FAQs

    What type of property is this?
    Office Property / Space - 7,500 SF Available; Prime Location
    Where is this office property / space located?
    The property is located at 7600 San Felipe St Houston, TX.
    What are key features of this property?
    This property features: 14,490 SF Class C office building in Harris County.; 7,500 SF of vacant executive office space available.; Two-story building constructed in 1978 with one building.
    Request Owner's contact information
    7600 San Felipe St Houston, TX 77063
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    Houston, TX 77063
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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
    7600 San Felipe St Houston, TX 77063
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    We can help!
    Listing Contact
    Douglas Pack
    Douglas Pack
    Real Estate License ID: 444440
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