Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5115 Fannin St Houston, TX 77004-5870
    Back to Search
    Property profile & analytics

    5115 Fannin St Houston, TX 77004-5870

    View on Map
    • Medical Office Space
    • 373,545 SF
    • 1.15 lot acres
    Off-Market
    Property ID
    US83-0606255
    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
    $10,585,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Museo Institute for Medical Arts / Medical Clinic
    • Museo Institute for Medical Arts Building (MUSEO) / Corporate Office
    • Hannah Muniz Castro / Ophthalmologist
    • George Basu, MD / Physician
    • Oscar Rosales, MD / Physician

    Property Details for 5115 Fannin St

    Year built
    2020
    Construction
    METAL FRAME
    Lot size
    1.15 lot acres
    Property size
    373,545 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    1381960010001
    APU
    1381960010001

    Description

    This exceptional Class A medical office building, located at 5115 Fannin Street in Houston, Texas, offers a prime opportunity for medical professionals seeking modern, efficient workspace. The 10-story building boasts a total of 153,775 square feet, with 36,062 square feet currently available for lease. Multiple tenancy options are available, ranging from a minimum of 1,933 square feet to a maximum contiguous space of 10,342 square feet. The building's design incorporates first-floor retail space, providing convenient amenities for tenants and their patients. Five levels of structured parking ensure ample parking for staff and visitors. The remaining four floors above the retail and parking levels are dedicated to medical office space, offering a sophisticated and functional environment. Built in 2022, this building represents the latest in modern construction and design, situated in Harris County, zip code 77004. This is a rare opportunity to secure space in a highly desirable, state-of-the-art medical office building in a prime Houston location. Contact us today to learn more about leasing options and availability.

    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
    -95.3859
    Latitude
    29.728
    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
    $1,204,781
    $3,750,525
    $64,177,696
    $67,928,221
    -
    $3,750,525
    $64,177,696
    $67,928,221

    Comparable in this City

    • Value Estimation
      $7,600,000
      69,858 SF

      1200 Binz St

      MEDICAL BUILDING • 69,858 SF
      1200 Binz St, Houston, TX 77004-6900
      View Details
    • Value Estimation
      $1,605,000
      25,176 SF

      3601 Fannin St

      MEDICAL BUILDING • 25,176 SF
      3601 Fannin St, Houston, TX 77004-3913
      View Details
    • Value Estimation by Request
      3,640 SF

      4818 San Jacinto St

      MEDICAL BUILDING • 3,640 SF
      4818 San Jacinto St, Houston, TX 77004
      View Details
    • Value Estimation
      $740,000
      17,575 SF

      5009 Caroline St

      MEDICAL BUILDING • 17,575 SF
      5009 Caroline St, Houston, TX 77004-5715
      View Details
    • Value Estimation
      $1,360,000
      23,554 SF

      1401 Binz St

      MEDICAL BUILDING • 23,554 SF
      1401 Binz St, Houston, TX 77004-8097
      View Details
    • Value Estimation by Request
      4,824 SF

      1120 Dennis St

      MEDICAL BUILDING • 4,824 SF
      1120 Dennis St, Houston, TX 77004-1102
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Two-Story Building on City Block

      Expansive 62,634 SF building suitable for various uses.
      3333 Fannin St, Houston, TX 77004
      View Details
    • Contact for pricing
      11,849 SF

      Multi-Use Property in Houston

      Retail, office, and residential units with future development potential.
      2407 Southmore Blvd, Houston, TX 77004
      View Details
    • Contact for pricing
      4,047 SF

      Office Building Near Museum District

      Office building for sale near Houston's Museum District.
      5005 Caroline St, Houston, TX 77004
      View Details
    • $525,000
      3,728 SF

      Restored Houston Office Bungalow

      Restored 1920s bungalow ideal for executive office suites.
      2709 Blodgett St, Houston, TX 77004
      View Details
    • Contact for pricing

      Midtown Lot with Built-Out Office

      25,000 SF lot with 3,000 SF office space.
      1803 Mcgowen St, Houston, TX 77004
      View Details
    • Contact for pricing
      20,000 SF

      Multi-Use Building Near Museum District

      20,000 SF multi-use building on 1.09 acres for sale.
      4811 San Jacinto St, Houston, TX 77004
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      62,500 SF

      Modern Office and Medical Hub

      Modern office and medical space in Houston's cultural heart.
      1801 Binz St, Houston, TX 77004
      View Details
    • Contact for pricing
      33,753 SF

      Medical Office Space Near TMC

      High-end medical office space connected to HCA Houston Healthcare.
      1200 Binz St, Houston, TX 77004
      View Details
    • Contact for pricing

      Medical Office Space in Houston

      Ideally positioned medical office building connected to HCA Houston Healthcare.
      1200 Binz St, Houston, TX 77004
      View Details
    • Contact for pricing

      Midtown Houston Rental Opportunity

      2,750 SF rental space in Midtown Houston.
      3221 Fannin St, Houston, TX 77004
      View Details
    • Contact for pricing

      Midtown Office Space For Rent

      Second-floor office space with easy access to transit and highways.
      3100 Fannin St, Houston, TX 77004
      View Details
    • Contact for pricing
      8,556 SF

      Midtown Office Space For Rent

      Second floor office space with corner exposure in Midtown Houston.
      3100 Fannin St, Houston, TX 77004
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5115 Fannin St
    Houston, TX 77004-5870
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5115 Fannin St, Houston, TX, 77004
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!