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    Property profile & analytics

    11111 Richmond Ave, Unit 103 Houston, TX 77082-6665

    • Office buildings
    • 103,763 SF
    • 4.06 lot acres
    OFF-MARKET
    Last Sale
    May 29, 2020
    Value Estimations
    $1,455,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0335589
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Biosensor Equipment, LLC / Production Facility
    • ZT Construction / Construction Company
    • The Colonnade / Corporate Office
    • Walden Dental / Dental Office
    • Exacta Land Surveyors Builder Services / Land Surveyor

    Property Details for 11111 Richmond Ave

    Year built
    1982
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.06 lot acres
    Property size
    103,763 SF
    Property type
    Office buildings
    APN
    1146800030001
    APU
    1146800030001

    Description

    The Colonnade offers exceptional office space in the heart of Westchase, Harris County. This traditional office building boasts a total of 96,223 square feet, with six available suites ranging from 1,523 to 21,816 square feet, perfect for businesses of various sizes. Its enviable location at the corner of Richmond and Wilcrest provides unparalleled access to major thoroughfares, including the Beltway 8 and Westpark Tollways, ensuring seamless commutes for employees and clients. The building's prime position places it just two blocks from these vital roadways, offering convenient connectivity throughout the Houston metropolitan area. Enjoy the convenience of nearby amenities, including a US Post Office, UPS stores, a wide array of restaurants (such as Bistro le Cep and Jason's Deli), retail options, including Whole Foods and the Westchase Shopping Center, and hotels like the Comfort Suites. The Colonnade itself features a unique and inviting skylit, flagstone-lined garden, providing a tranquil and aesthetically pleasing environment for tenants and their guests. This property is situated on a major Metro route, enhancing accessibility for employees utilizing public transportation. The building's location within the Westchase submarket, a thriving business hub in Southwest Houston, offers proximity to numerous other businesses and entertainment venues. This is a truly exceptional opportunity to secure high-quality office space in a highly desirable and convenient location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.5723
    Latitude
    29.7269
    CBSA code
    26420
    CBSA name
    HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $73,059
    $3,313,800
    $1,735,028
    $5,048,828
    -
    $3,313,800
    $1,735,028
    $5,048,828

    Comparable in this City

    • Value Estimation
      $5,445,000
      52,718 SF

      3100 Hayes Rd

      OFFICE BUILDING • 52,718 SF
      3100 Hayes Rd, Houston, TX 77082-2622
      View Details
    • Value Estimation
      $2,790,000
      155,868 SF

      11200 Richmond Ave Ste, Unit 495

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 155,868 SF
      11200 Richmond Ave Ste, Houston, TX 77082-2637
      View Details
    • Value Estimation
      $1,870,000
      82,800 SF

      11300 Richmond Ave

      OFFICE BUILDING • 82,800 SF
      11300 Richmond Ave, Houston, TX 77082-2616
      View Details
    • Value Estimation by Request
      7,873 SF

      15300 Westheimer Rd

      OFFICE BUILDING • 7,873 SF
      15300 Westheimer Rd, Houston, TX 77082-1451
      View Details
    • Value Estimation by Request
      7,226 SF

      16325 Westheimer Rd

      OFFICE BUILDING • 7,226 SF
      16325 Westheimer Rd, Houston, TX 77082-1233
      View Details
    • Value Estimation
      $1,410,000
      13,388 SF

      2665 Westhollow Dr

      OFFICE BUILDING • 13,388 SF
      2665 Westhollow Dr, Houston, TX 77082-1846
      View Details

    Similar Nearby for Sale

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      Prime Commercial Tract For Sale

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    • Contact for pricing

      4.2 Acres of Land Available

      Two tracts of land totaling approximately 4.2 acres for sale.
      14938 Richmond Ave, Houston, TX 77082
      View Details
    • $1,300,000
      1.02 Acres

      Houston Car Wash Business Opportunity

      Full-service car wash in a high-traffic Houston location.
      12573 Richmond Ave, Houston, TX 77082
      View Details
    • $6,500,000
      1.39 Acres

      New Car Wash on Highway

      Newly built express car wash on high-traffic Houston corridor.
      3703 State Highway 6 S, Houston, TX 77082
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    Similar Nearby for Lease

    • Contact for pricing

      Office Building with Skylit Garden

      Office building in Westchase area with convenient highway access.
      11111 Richmond Ave, Houston, TX 77082
      View Details
    • Contact for pricing

      Westchase Area Office Building

      Two-story office building in the Westchase submarket available for rent.
      11222 Richmond Ave, Houston, TX 77082
      View Details
    • Contact for pricing

      Retail Plaza on Westheimer Road

      Retail plaza for lease in West Houston near Hwy 6.
      15300 Westheimer Rd, Houston, TX 77082
      View Details
    • Contact for pricing
      10,048 SF

      Hayes Road Office Space Available

      Office space available for lease on Hayes Road, Houston.
      3100-3110 Hayes Rd, Houston, TX 77082
      View Details
    • Contact for pricing

      Medical Office Building for Lease

      Medical office space available in Houston near medical center.
      12000 Richmond Ave, Houston, TX 77082
      View Details
    • Contact for pricing

      Westheimer Retail Center Opportunity

      Retail spaces available in high-traffic Houston location.
      15015 Westheimer Pkwy, Houston, TX 77082
      View Details
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    Houston, TX 77082-6665
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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
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