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Property profile & analytics
FOR LEASE
Medical Office Space
1200 Binz St Houston, TX 77004
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-2059253
For Lease
1 / 3
Contact for pricing
1200 Binz St, Houston, TX 77004
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Property summary
AI-generated overview
1200 Binz offers 7 available medical office suites ranging from 1,818 to 14,559 square feet within a 14-story, 257,707 square foot Class B building constructed in 1985. Located in southwest Houston, Harris County, Texas (77004), this property boasts 895 parking spaces and convenient access to I-69 and the South Freeway, as well as an on-site METRORail Red Line station. The building features elevators and is connected via skybridge to HCA Houston Healthcare Medical Center. Its prime location across from Hermann Park places it within the Texas Medical Center, the world's largest medical center, and near numerous restaurants, shops, museums, Rice University, and the Houston Zoo. The synergistic tenant roster includes UT Physicians, Diagnostic Clinic of Houston, Quest Diagnostics, and Picture Perfect Imaging Center. Ground floor amenities include Fia's Pizzeria and Bodega's Taco Shop. The 1.72-acre lot offers a unique opportunity for medical professionals seeking a prestigious and convenient location. This multiple-tenancy building presents a compelling investment opportunity in a thriving medical hub.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
69,858 SF
Lot
1.71 ac (74,627 SF)
APN
391630000001
UPID
US82-2059253
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Plaza Medical In Houston Tx Hotel & Motel
-
Fia's Pizzeria Restaurant
-
Diagnostic Clinic of Houston Medical Clinic
-
The Allergy Clinic Physician
-
Diagnostic Clinic of Houston: Mcavoy Sean MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.09M
Blend (final)
Blend
$7.60M
Owner & transaction history
Hta-park Plaza LLC · 10 yrs held
Hta-park Plaza LLC
since 2016
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$9.9M
+122.2%
Restaurant
$9.2M
+105.5%
Auto repair, garage
$6.5M
+46.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Houston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Houston submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$9,905,000
Change: +122% · Conversion: Easy
RESTAURANT
$9,165,000
Change: +106% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,520,000
Change: +46% · Conversion: Difficult
RETAIL STORES
$5,990,000
Change: +34% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,860,000
Change: +31% · Conversion: Moderate
OFFICE BUILDING
$4,735,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$7.60M
Range $6.84M – $8.36M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$109 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$1,101,735
Tax year 2022
Assessed value
$56,409,386
Assessed 2024
Previous assessed
$54,681,824
+3.2% YoY
Effective rate
1.95%
On assessed value
Assessed land
$5,597,025
Assessed improvement
$50,812,361
Land market value
$5,597,025
Improvement market value
$50,812,361
Total market value
$56,409,386
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
69,858 SF
Lot
1.71 ac (74,627 SF)
APN
391630000001
UPID
US82-2059253
Jurisdiction
HARRIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$9.9M
RESTAURANT
Est. value
$9.2M
AUTO REPAIR, GARAGE
Est. value
$6.5M
RETAIL STORES
Est. value
$6.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.9M
OFFICE BUILDING
Est. value
$4.7M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Lot
1.71 ac
Current owner
From public records · entity-resolved
Hta-park Plaza LLC
Entity
Mailing address
3310 W END AVE STE #320, NASHVILLE, TN 37203-1028
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 11, 2016
—
Hta-park Plaza LLC
Altera Park Plaza LLC
Grant Deed
related
—
Dec 22, 2011
—
Altera Park Plaza LLC
Th Healthcare Ltd
Deed Of Trust
related
$23,870,000 · General Electric Capital Corp
—
—
Altera Park Plaza LLC
—
Deed Of Trust
related
$25,870,000 · General Electric Capital Corp
—
—
Park Plaza Hospital
—
Deed Of Trust
related
$58,100,000 · Wells Fargo Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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