Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5120 Woodway Dr Houston, TX 77056

    • Office buildings
    • 449,490 SF
    • 7.12 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3056686
    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

    • ELAWAN ENERGY NORTH AMERICA / Green Energy Supplier
    • Designer Floors of Houston / Carpet & Flooring Store / Hardware & Home Improvement
    • Gibraltar Mortgage Services / Loan Service / Bank
    • M D Gibson & Associates / Law Firm
    • Jordan Capital Management / Financial Advisor

    Property Details for 5120 Woodway Dr

    Year built
    1984
    Construction
    STEEL FRAME
    Lot size
    7.12 lot acres
    Property size
    449,490 SF
    Property type
    Office buildings
    APN
    451400050350
    APU
    451400050350

    Description

    The Decorative Center of Houston offers 500,000 square feet of Class A office space in a prime Houston location at 5120 Woodway Dr, 77056. Built in 1984 and renovated in 2014, this multi-use building features a variety of office configurations, from traditional to creative coworking spaces, suitable for various business needs. Spaces range from 1,283 to 18,524 contiguous square feet, with a maximum of 18,524 square feet available. The building boasts 13-foot ceilings, four elevators, and ample parking with 2,000 spaces (a 3.5:1,000 sq ft ratio) in a 5-story covered garage. Convenient amenities include loading docks, freight elevators, card key access, concierge service, on-site management, a restaurant, security, and vending areas. This established location, part of a renowned design center with over 40 showrooms, provides a unique and prestigious address for your business. The building's central location in Houston offers easy access to major transportation routes and a vibrant business community. Multiple tenancy options are available to accommodate businesses of all sizes.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,565,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4664
    Latitude
    29.7632
    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
    $1,380,230
    $19,782,964
    $45,120,345
    $64,903,309
    -
    $19,782,964
    $45,120,345
    $64,903,309

    Comparable in this City

    • Value Estimation by Request
      242,746 SF

      5065 Westheimer Rd

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 242,746 SF
      5065 Westheimer Rd, Houston, TX 77056-5605
      View Details
    • Value Estimation by Request
      112,120 SF

      5100 Westheimer Rd, Unit 360

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 112,120 SF
      5100 Westheimer Rd, Houston, TX 77056-5596
      View Details
    • Value Estimation by Request
      37,595 SF

      5 Riverway

      OFFICE BUILDING • 37,595 SF
      5 Riverway, Houston, TX 77056-1862
      View Details
    • Value Estimation
      $1,190,000
      418,394 SF

      3 Riverway

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 418,394 SF
      3 Riverway, Houston, TX 77056-1919
      View Details
    • Value Estimation
      $1,205,000
      677,431 SF

      5400 Westheimer Ct

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 677,431 SF
      5400 Westheimer Ct, Houston, TX 77056-5353
      View Details
    • Value Estimation
      $2,065,000
      564,099 SF

      5151 San Felipe St

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 564,099 SF
      5151 San Felipe St, Houston, TX 77056-3607
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.00 Acre

      Galleria Area Redevelopment Site

      Prime 1-Acre Houston Land, Endless Potential
      3055 Sage Rd, Houston, TX 77056
      View Details
    • Contact for pricing
      2.62 Acres

      Galleria Area Commercial Land

      2.62 Acres, Prime Houston Location
      3500 Sage Rd, Houston, TX 77056
      View Details
    • $159,900
      1,095 SF

      Uptown High-Rise Living

      Two-bedroom corner unit with views and amenities in Uptown Houston.
      3525 Sage Rd, Houston, TX 77056
      View Details
    • Contact for pricing

      Residence Inn Houston by Galleria

      146-room hotel available for purchase in Houston, Texas.
      2500 Mccue Rd, Houston, TX 77056
      View Details
    • $130,000

      Luxury High-Rise Condo in Galleria

      Elegant 12th-floor condo with city views and resort-style amenities.
      3525 Sage Rd, Houston, TX 77056
      View Details
    • $215,000
      905 SF

      Move-In Ready Condo with Amenities

      One-bedroom condo featuring modern amenities and convenient location.
      3505 Sage Rd, Houston, TX 77056
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      43,221 SF

      Renovated Office Building in Galleria

      Class A office building in Houston's Galleria/Uptown submarket.
      1900 Saint James Pl, Houston, TX 77056
      View Details
    • Contact for pricing
      139,303 SF

      Houston Office Space For Rent

      139,303 square foot office space available for rent.
      1330 Post Oak Blvd, Houston, TX 77056
      View Details
    • $19 SF/Yr
      12,204 SF

      High Visibility Office Space Available

      Office space for rent with excellent location and visibility.
      710 N Post Oak Blvd, Houston, TX 77056
      View Details
    • Contact for pricing
      43,737 SF

      Renovated Office Building with Amenities

      Office building featuring renovated spaces, tenant lounge, and onsite management.
      5433 Westheimer Rd, Houston, TX 77056
      View Details
    • $54 SF/Yr
      19,351 SF

      Uptown Houston Office Suites

      Prestigious Uptown Houston office space.
      5444 Westheimer Ave, Houston, TX 77056
      View Details
    • $21 SF/Yr
      8,361 SF

      Houston Office Space For Rent

      8,361 square feet of office space available for lease.
      3000 Post Oak Blvd, Houston, TX 77056
      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.
    5120 Woodway Dr
    Houston, TX 77056
    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

    Google sign-in failed. Please try again or use another login method.