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    24 Greenway Plz Houston, TX 77046

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    24 Greenway Plz Houston, TX 77046

    View on Map
    • Office buildings
    • 626,572 SF
    • 2.94 lot acres
    For Lease
    $16,000,000
    View Listing →
    Furnished Office Space Available For Lease
    $16,000,000

    Furnished Office Space Available

    Fully-furnished office spaces with shared amenities and fitness center.

    24 Greenway Plz, Houston, TX 77046
    View Listing
    Property ID
    US82-4792923
    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

    • Houston Federal Credit Union / Credit Union
    • Welch William R CPA / Accounting Firm / Tax Preparation
    • Adair Myers Stevenson Yagi / Law Firm
    • Smith-Bonar PC / Accounting Firm / Tax Preparation
    • Puig Medical Group / Medical Clinic

    Property Details for 24 Greenway Plz

    Year built
    1981
    Construction
    STEEL & CONCRETE
    Lot size
    2.94 lot acres
    Property size
    626,572 SF
    Property type
    Office buildings
    APN
    1146300000006
    APU
    1146300000006

    Description

    This Class A office space in Houston's River Oaks/Greenway Plaza area offers 2,500 square feet of versatile office space, currently fully vacant and available for immediate occupancy. The property is located at 24 Greenway Plaza, Houston, TX 77046, within Harris County. Multiple tenancy options are available, with spaces ranging from a minimum of 75 square feet to a maximum contiguous space of 2,500 square feet. The building offers a variety of office configurations suitable for traditional office setups, executive suites, coworking arrangements, or creative office designs. Fully furnished options are available, including amenities such as an onsite receptionist, printing services, refreshments, parking, utilities, and janitorial services. Additional shared amenities include access to conference rooms and a 24/7 fitness center. The property boasts convenient access to local business phone lines with unlimited domestic long distance calling. This exceptional location provides a prestigious address and easy access to various business and lifestyle amenities. All information should be verified independently.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4408
    Latitude
    29.73
    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
    $1,525,983
    $16,026,250
    $57,001,677
    $73,027,927
    -
    $16,026,250
    $57,001,677
    $73,027,927

    Comparable in this City

    • Value Estimation
      $2,380,000
      88,060 SF

      3411 Richmond Ave, Unit 345

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 88,060 SF
      3411 Richmond Ave, Houston, TX 77046-3400
      View Details
    • Value Estimation
      $6,210,000
      212,520 SF

      1 Greenway Plz

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 212,520 SF
      1 Greenway Plz, Houston, TX 77046-0100
      View Details
    • Value Estimation
      $25,800,000
      840,388 SF

      9 Greenway Plz

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 840,388 SF
      9 Greenway Plz, Houston, TX 77046-0905
      View Details
    • Value Estimation
      $36,575,000
      530,964 SF

      3 Greenway Plz

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 530,964 SF
      3 Greenway Plz, Houston, TX 77046-0395
      View Details
    • Value Estimation
      $14,210,000
      204,798 SF

      3773 Richmond Ave

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 204,798 SF
      3773 Richmond Ave, Houston, TX 77046-3721
      View Details
    • Value Estimation
      $14,540,000
      631,816 SF

      20 Greenway Plz

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 631,816 SF
      20 Greenway Plz, Houston, TX 77046-2011
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      24,603 SF

      Office Space Available For Rent

      Office building with 24,603 square feet available for rent.
      11 Greenway Plz, Houston, TX 77046
      View Details
    • $21 SF/Yr
      94,361 SF

      Class A Office Building

      Ten-story office building in Greenway Plaza, renovated in 2014.
      20 Greenway Plz, Houston, TX 77046
      View Details
    • Contact for pricing

      Furnished Office Space Available

      Fully-furnished office spaces with shared amenities and fitness center.
      24 Greenway Plz, Houston, TX 77046
      View Details
    • $19 SF/Yr
      67,036 SF

      Professional Office Space Available

      Sublease opportunity with shared amenities in a law office.
      2 Greenway Plz, Houston, TX 77046
      View Details
    • Contact for pricing

      Versatile Workspace Solutions Available Now

      Flexible office spaces, coworking, meeting rooms, and virtual office options.
      12 Greenway Plz, Houston, TX 77046
      View Details
    • Contact for pricing

      Upper Kirby

      Discover many ways to work your way in Town Square
      12 Greenway Plz, Houston, TX 77046
      View Details
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    Houston, TX 77046
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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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