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    2051 South Greenhouse Rd Houston, TX 77084

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    2051 South Greenhouse Rd Houston, TX 77084

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    • Medical Office Space
    • 125,676 SF
    • 6.13 lot acres
    For Lease
    $27 SF/Yr
    View Listing →
    Class A Medical Building ForRent For Lease
    $27 SF/Yr
    3,315 SF

    Class A Medical Building ForRent

    Three-story Class A medical building near Texas Medical Center.

    2051 South Greenhouse Road, Houston, TX
    View Listing
    Property ID
    US82-9110333
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hebah Aboul-Fotouh, MD / Pediatrician / Medical Clinic
    • One Step Diagnostic - Katy / Medical Clinic
    • Katy Pediatric Associates / Pediatrician / Medical Clinic
    • FedEx Drop Box / Postal Service / Courier Service
    • Greenhouse Pharmacy / Pharmacy

    Property Details for 2051 South Greenhouse Rd

    Year built
    2014
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    6.13 lot acres
    Property size
    125,676 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    1338270020002
    APU
    1338270020002

    Description

    This exceptional Class A medical office building, Greenhouse Medical Plaza, offers a prime opportunity for healthcare professionals seeking modern, efficient space in Houston, Texas. Located at 2051 Greenhouse Rd, 77084, in Harris County, this single, three-story building boasts a total of 114,414 square feet. Built in 2014, the property provides ample parking with a ratio of 4.5 spaces per 1,000 square feet. Multiple tenancy options are available, with spaces ranging from a minimum of 2,858 square feet to a maximum contiguous space of 18,613 square feet. Currently, there are 50,238 square feet of vacant space ready for immediate occupancy. The building's design caters specifically to medical practices, offering a professional and efficient environment. Its strategic location in Houston ensures high visibility and easy access for patients and staff. This is an unparalleled opportunity to establish or expand your medical practice in a thriving and well-equipped facility. Contact us today to learn more about the available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $13,222,000
      Market price range: $7.18M - $15.3M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $10,345,000
      Current use
      OFFICE BUILDING
      $21,045,000
      Change: +103% Conversion: Easy
      RESTAURANT
      $12,925,000
      Change: +25% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $9,920,000
      Change: -4% Conversion: Easy
      AUTO REPAIR, GARAGE
      $9,605,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.7068
    Latitude
    29.7922
    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
    $492,430
    $4,007,955
    $30,550,473
    $34,558,428
    -
    $4,007,955
    $30,550,473
    $34,558,428

    Comparable in this City

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    • Value Estimation by Request
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      MEDICAL BUILDING • 6,868 SF
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    • Value Estimation by Request
      4,152 SF

      2222 Greenhouse Rd Ste, Unit 800

      MEDICAL BUILDING • 4,152 SF
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      View Details
    • Value Estimation by Request
      6,127 SF

      2222 Greenhouse Rd

      MEDICAL BUILDING • 6,127 SF
      2222 Greenhouse Rd, Houston, TX 77084-7287
      View Details
    • Value Estimation by Request
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      5848 Hwy 6th N

      MEDICAL BUILDING • 3,120 SF
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      View Details
    • Value Estimation by Request
      1,175 SF

      16125 Cairnway Dr Ste, Unit 114

      MEDICAL BUILDING • 1,175 SF
      16125 Cairnway Dr Ste, Houston, TX 77084-3556
      View Details

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      Office/Medical Space For Sale

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      Former Urgent Care Space Available

      Second-generation medical space with high-traffic frontage on Katy Fwy.
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      View Details
    • $27 SF/Yr
      2,858 SF

      Class A Medical Building ForRent

      Three-story Class A medical building near Texas Medical Center.
      2051 South Greenhouse Rd, Houston, TX 77084
      View Details
    • Contact for pricing
      1,800 SF

      Retail/Office Space Near Freeway

      Renovated retail or office spaces with excellent freeway exposure.
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      Energy Corridor Office Space Available

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      Timber Creek Place Office/Industrial Space

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    View Listing
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    Houston, TX 77084
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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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