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

    4601 Washington Ave Houston, TX 77007-5471

    • Office buildings
    • 53,900 SF
    • 1.45 lot acres
    OFF-MARKET
    Value Estimations
    $2,270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0817997
    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

    • Amelie Fredland / Real Estate Agency
    • Edgar Colon Law Firm / Law Firm
    • Orr Commercial / Real Estate Agency
    • Herrera Law / Law Firm
    • Washington Central / Shopping Center & Mall

    Property Details for 4601 Washington Ave

    Year built
    2009
    Construction
    BRICK
    Lot size
    1.45 lot acres
    Property size
    53,900 SF
    Property type
    Office buildings
    APN
    1314880010001
    APU
    1314880010001

    Description

    The Washington Centre, located at 4601 Washington Ave in Houston, Texas, 77007, offers exceptional office space in a three-story, Class B building totaling 47,922 square feet. This Midtown Houston property provides multiple tenancy options, with spaces ranging from a minimum of 519 square feet to a maximum contiguous space of 2,954 square feet. The building boasts convenient access to major thoroughfares including Highway I-10, Allen Parkway, and Memorial Parkway. A significant advantage is the on-site 189-car parking garage, a rarity in this area, connected to both street-level retail and upper-floor office suites via a ground floor breezeway and a second-floor sky bridge. The building features over 16,000 square feet of street-level retail space, complementing the nearly 34,000 square feet of office space. This prime location offers proximity to Downtown Houston and a vibrant selection of nearby restaurants such as Buena Vista Cuban Cafe, Miyako Sushi, Nara Thai, and Toasted Yolk. The building's parking ratio is 4.0 spaces per 1000 square feet. This property presents a modern and convenient solution for businesses seeking a strategic location in Houston's thriving Midtown submarket.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,130,000
      Current use
      WAREHOUSE, STORAGE
      $3,515,000
      Change: +12% Conversion: Difficult
      MEDICAL BUILDING
      $3,440,000
      Change: +10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4078
    Latitude
    29.7701
    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
    $281,893
    $5,980,940
    $7,771,357
    $13,752,297
    -
    $5,980,940
    $7,771,357
    $13,752,297

    Comparable in this City

    • Value Estimation
      $685,000
      27,745 SF

      320 Westcott St

      OFFICE BUILDING • 27,745 SF
      320 Westcott St, Houston, TX 77007-7045
      View Details
    • Value Estimation
      $1,770,000
      119,858 SF

      5225 Katy Fwy

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 119,858 SF
      5225 Katy Fwy, Houston, TX 77007-2292
      View Details
    • Value Estimation
      $900,000
      22,658 SF

      3605 Katy Fwy

      OFFICE BUILDING • 22,658 SF
      3605 Katy Fwy, Houston, TX 77007-3633
      View Details
    • Value Estimation
      $685,000
      17,270 SF

      540 Hts Blvd

      OFFICE BUILDING • 17,270 SF
      540 Hts Blvd, Houston, TX 77007-2552
      View Details
    • Value Estimation
      $1,520,000
      36,407 SF

      190 T C Jester Blvd

      OFFICE BUILDING • 36,407 SF
      190 T C Jester Blvd, Houston, TX 77007-4706
      View Details
    • Value Estimation by Request
      6,080 SF

      1815 Thompson St

      OFFICE BUILDING • 6,080 SF
      1815 Thompson St, Houston, TX 77007-2328
      View Details

    Similar Nearby for Sale

    • $999,000

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      Free-standing building with flexible space, ideal for professional or medical use.
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      5,985 SF

      Prime Houston Office Building

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      Freestanding Retail on Washington Avenue

      Retail/commercial building with parking in the heart of Washington corridor.
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    • $1,800,000

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    • $280,000

      Multi-Unit Property Near Downtown

      Multi-unit property near downtown Houston with month-to-month leases.
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      Land in desirable Rice Military/Washington Corridor neighborhood, ideal for development.
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    Similar Nearby for Lease

    • $17 SF/Yr
      10,861 SF

      Prime Houston Executive Office Space

      7-Story Office Building, 5,973 SF Available
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      1,137 SF

      Inner Loop Office Space Available

      Class B office space for rent in Houston, TX.
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      3,683 SF

      Houston Medical Office Space for Lease

      Prime Medical Office Suites Available in Houston
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      1,392 SF

      Houston Creative Office Space

      1,392 SF Available, Multiple Units
      1824 Spring St, Houston, TX 77007
      View Details
    • Contact for pricing
      2,953 SF

      Prime Washington Ave Executive Suite

      2,953 SF Executive Office, 14 Parking Spaces
      2420 Washington Ave, Houston, TX 77007
      View Details
    • $24 SF/Yr
      5,456 SF

      Prime Washington Ave. Creative Space

      Historic building, ample parking, high visibility.
      2215 Washington Ave, Houston, TX 77007
      View Details
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    Houston, TX 77007-5471
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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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