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Property profile & analytics
OFF-MARKET
Estimated value
$3,730,000
Medical Office Space
12121 Richmond Ave, Houston, TX 77082-2432
Entity Owned
28-yr Hold
Free & Clear
Property ID
US82-3504872
Property summary
AI-generated overview
This Class A, four-story medical office building, totaling 172,202 square feet, is located at 12121 Richmond Ave, Houston, TX 77082, in Harris County. Built in 1985 and extensively renovated in 2023, the property boasts a modern exterior and elegantly redesigned lobby and common areas. The building offers 27 suites, with a minimum divisible space of 1,097 square feet and a maximum contiguous space of 6,251 square feet. Currently, 60,946 square feet of space is available for lease. Amenities include four elevators, ample parking (5 spaces per 1,000 square feet), a tenant conference center, two covered patient drop-offs, an on-site pharmacy, an outdoor patio, and on-site maintenance and property management. The building's convenient location near Westchase and the HCA Houston Healthcare West hospital campus makes it an ideal location for medical professionals. The property offers move-in-ready clinical suites, providing an excellent opportunity to establish or expand a medical practice within a thriving healthcare community. A delightful deli is also located on-site.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
195,870 SF
Lot
1.37 ac (59,769 SF)
APN
1221920010002
UPID
US82-3504872
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
-
Carpenter Anne M DDS Dental Office
-
West Medical One Medical Clinic
-
Kraus Pain & Spine Institute Medical Clinic
-
Dr. James Pediatric Dentistry Dental Office
-
Royal Oaks Medical Home and Wellness Clinics: Josier Nisnisan, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.73M
Owner & transaction history
CHCA WEST HOUSTON
CHCA WEST HOUSTON
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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)
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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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$19 / 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
$299,390
Tax year 2022
Assessed value
$23,903,573
Assessed 2024
Previous assessed
$26,113,140
-8.5% YoY
Effective rate
1.25%
On assessed value
Assessed land
$717,228
Assessed improvement
$23,186,345
Land market value
$717,228
Improvement market value
$23,186,345
Total market value
$23,903,573
Applied tax rate
8.0000
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
Off-Market
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
195,870 SF
Lot
1.37 ac (59,769 SF)
APN
1221920010002
UPID
US82-3504872
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
Building & site characteristics
From public records
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Lot
1.37 ac
Current owner
From public records · entity-resolved
CHCA WEST HOUSTON
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 1504, NASHVILLE, TN 37202-1504
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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