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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3000 Richmond Ave Houston, TX 77098-3102

    • Office buildings
    • 99,622 SF
    • 2.99 lot acres
    OFF-MARKET
    Value Estimations
    $2,085,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-9682350
    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.

    Current Use by Public Records

    • Change Brings Happiness / Physician / Medical Clinic
    • Memorial Hermann / Medical Group
    • SF Custom Homes LLC / Construction Company / General Contractor
    • The Morgan Group, Inc / Property Management Company
    • Lepow Management & Services / Physician

    Property Details for 3000 Richmond Ave

    Year built
    1963
    Construction
    STEEL FRAME
    Lot size
    2.99 lot acres
    Property size
    99,622 SF
    Property type
    Office buildings
    APN
    1356380010001
    APU
    1356380010001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.424
    Latitude
    29.7348
    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
    $296,096
    $13,023,100
    $925,896
    $13,948,996
    -
    $13,023,100
    $925,896
    $13,948,996

    Comparable in this City

    • Value Estimation
      $720,000
      9,653 SF

      3033 Alabama St

      OFFICE BUILDING • 9,653 SF
      3033 Alabama St, Houston, TX 77098-2001
      View Details
    • Value Estimation
      $785,000
      25,136 SF

      4200 Shepherd Dr

      OFFICE BUILDING • 25,136 SF
      4200 Shepherd Dr, Houston, TX 77098-5366
      View Details
    • Value Estimation
      $1,460,000
      80,044 SF

      3801 Kirby Dr, Unit 375

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 80,044 SF
      3801 Kirby Dr, Houston, TX 77098-4100
      View Details
    • Value Estimation
      $1,295,000
      29,354 SF

      2243 Milford St

      OFFICE BUILDING • 29,354 SF
      2243 Milford St, Houston, TX 77098-5207
      View Details
    • Value Estimation
      $530,000
      7,216 SF

      2301 Portsmouth St

      OFFICE BUILDING • 7,216 SF
      2301 Portsmouth St, Houston, TX 77098-3901
      View Details
    • Value Estimation
      $2,330,000
      182,689 SF

      3336 Richmond Ave

      OFFICE BUILDING • 182,689 SF
      3336 Richmond Ave, Houston, TX 77098-3017
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,651 SF

      Well-Located Single-Story Office Building

      Single-story office building with Class A interior finishes and parking.
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      6,072 SF

      Richmond Avenue Multifamily Investment Opportunity

      Two adjacent income-producing properties in Houston's Inner Loop.
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      12,300 SF

      Office Space for Lease

      Office space available for lease in Houston, TX.
      3323 Richmond Ave, Houston, TX 77098
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      Retail Opportunity on Shepherd Drive

      Retail property available for sale on Shepherd Drive, Houston.
      3619 S Shepherd Dr, Houston, TX 77098
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    • $2,500,000

      Well-Maintained 15-Unit Apartment Complex

      Turnkey investment property with immediate cash flow and future growth.
      1849 W Main St, Houston, TX 77098
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    Similar Nearby for Lease

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      Houston Office Building For Lease

      Eleven-story office building with on-site amenities in Houston, Texas.
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      Greenbriar Building Office Space Available

      Renovated office space with ample parking in Upper Kirby.
      4101 Greenbriar Dr, Houston, TX 77098
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      3,443 SF

      Class A+ Office Building

      18-story office building with panoramic views and on-site amenities.
      3737 Buffalo Speedway, Houston, TX 77098
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    • Contact for pricing

      Office Building for Lease

      Full office building available for lease in Houston, Texas.
      3131 W Alabama St, Houston, TX 77098
      View Details
    • Contact for pricing

      Adaptable Workspace Solutions Available

      Flexible office spaces, coworking, meeting rooms, and virtual office options.
      2925 Richmond Ave, Houston, TX 77098
      View Details
    • Contact for pricing
      6,469 SF

      Office Space Available For Rent

      4,170 square feet of office space for lease.
      3120 Southwest Fwy, Houston, TX 77098
      View Details
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    3000 Richmond Ave
    Houston, TX 77098-3102
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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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