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    6213 Richmond Ave Houston, TX 77057

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    For Sale
    Contact for pricing

    12,695 SF Bar, High Visibility

    Property size:
    12,695 SF

    Property Features for 6213 Richmond Ave

    General Information

    Property type
    Restaurants
    Square Feet
    12,695 SF
    Lot Size
    37,026 SF

    Building Details

    Buildings
    1
    Stories
    2

    We can help!

    Listing Contact
    David Greenberg

    Listing Agency: Greenberg & Company Listing Agent: David Greenberg

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

    Learn more

    Property Insight Report

    Overview

    This exceptional 12,695-square-foot bar is ideally situated in Houston's prestigious Galleria/Uptown area, a vibrant hub of commerce and entertainment. The property boasts a highly visible location with pylon signage, ensuring maximum exposure to the substantial foot traffic and vehicular flow. This single-tenant retail space is part of a two-story building on a 0.85-acre lot, surrounded by a diverse mix of retailers, restaurants, hotels, and office buildings. Uptown Houston is a renowned business district, home to approximately 2,000 companies and 200,000 employees, making it a prime location for a thriving bar business. The area's extensive retail sector, featuring over 5 million square feet of retail space and 1,000+ stores, including the fourth largest retail complex in the United States (The Galleria), draws over 24 million visitors annually. Furthermore, Uptown's concentration of 31 hotels and over 100 restaurants solidifies its position as a premier dining and entertainment destination in Houston. This property offers a unique opportunity to capitalize on the high density of businesses, residents, and tourists in this thriving urban center. The location's strong demographics and high visibility make it an attractive investment for a bar or similar establishment seeking a prominent presence in one of the nation's leading business districts.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    KARMA HOUSTON 6213 Nightclub Houston Group Law Firm Draise Houston Strip ... Nightclub The castle lounge Restaurant Bunny's Gentlemen's Club Nightclub

    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
    -95.4899476
    Latitude
    29.7312863

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    FAQs

    What type of property is this?
    Restaurant - 12,695 SF Bar, High Visibility
    Where is this restaurant located?
    The property is located at 6213 Richmond Ave Houston, TX.
    What are key features of this property?
    This property features: Uptown Houston offers a prestigious blend of business and residential uses, with exceptional shopping, dining, and entertainment options.; Uptown Houston comprises 23.1 million square feet of Class A office space, ranking as the 14th largest business district nationally.; The district is home to approximately 2,000 companies.
    (713) 778-0900 Call to check price and availability
    Request Owner's contact information
    6213 Richmond Ave Houston, TX 77057
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    Houston, TX 77057
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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
    6213 Richmond Ave Houston, TX 77057
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    Contact for Pricing
    Please call us for current price
    and status of this listing
    David Greenberg
    Real Estate License ID: 236747
    (713) 778-0900
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