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    FOR LEASE
    Strip malls

    12002 Richmond Ave, Houston, TX 77082

    16,994 SF 1.44 ac lot Built 2003
    Entity Owned 19-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US83-3720194
    Property summary
    AI-generated overview

    This exceptional single-story, Class B commercial property, The Plazas at Royal Oaks, offers a unique blend of medical and creative office spaces within a thriving shopping center. Built in 2004, the 15,275 square foot building features nine suites, with 2,600 square feet currently vacant, offering flexible options ranging from 1,200 to 2,100 contiguous square feet. The property boasts 73 parking spaces, providing ample convenience for tenants and their clients. Its location near S Kirkwood Dr. in Harris County ensures excellent accessibility. The building is ideal for businesses seeking a versatile and well-situated space in a high-demand area. The surrounding Royal Oaks neighborhood demonstrates a strong economic profile, with a median home price exceeding that of 96.4% of Texas neighborhoods and 88.6% of US neighborhoods. This reflects a high concentration of residents in executive, management, and professional occupations, boasting an average household income of $79,282. Commuting patterns show a significant reliance on private vehicles (87.4%), supplemented by carpooling (6.7%) and bus usage (5.9%), indicating robust local transportation options. The property's location within a shopping center further enhances its visibility and accessibility, making it an attractive option for a variety of businesses. This is a rare opportunity to secure prime commercial space in a highly desirable and affluent area.

    Property profile
    Verified
    Property type Strip malls
    Use group SHOPPING CENTER, STRIP CENTER
    Year built 2003
    Construction STEEL FRAME
    Total area 16,994 SF
    Lot 1.44 ac (62,870 SF)
    APN 1241600010001
    UPID US83-3720194
    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
    • Alicia's Mexican Grille Restaurant
    • Little Thai Cafe Restaurant
    • Lakeview Dental: Dr. Rashmi Nandish Dental Office
    • Western Union Bank Credit Union
    • Martinizing Cleaners (Bike/Boat/Book/etc) Store
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $525k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $651k
    Blend (final) Blend
    $585k
    Owner & transaction history
    Kimton Royal Oaks LLC · 19 yrs held
    Kimton Royal Oaks LLC
    since 2006
    4 recorded transactions
    2006
    1969
    1969
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Warehouse, storage $790,000 +51.2%
    Retail stores $540,000 +3.4%
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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