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

    6117 Richmond Ave Houston, TX 77057-6256

    • Office buildings
    • 27,580 SF
    • 1.64 lot acres
    OFF-MARKET
    Value Estimations
    $840,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-5332962
    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

    • Kelly Sabrina Realtor / Real Estate Agent
    • Allied Staffing Company / Employment Agency
    • Adriana Perez, Adri Properties Group with Champions Real Estate / Real Estate Agent
    • Apostille and Notary Houston Tx Abogado de Nicaragua - Karina Herrera / Legal Services
    • Apostillas - Fe de vida / Notary Public

    Property Details for 6117 Richmond Ave

    Year built
    1977
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.64 lot acres
    Property size
    27,580 SF
    Property type
    Office buildings
    APN
    690440010123
    APU
    690440010123

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $755,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $924,000
      Market price range: $180k - $1.42M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $845,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $955,000
      Change: +13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4891
    Latitude
    29.7312
    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
    $67,214
    $2,508,030
    $1,164,899
    $3,672,929
    -
    $2,508,030
    $1,164,899
    $3,672,929

    Comparable in this City

    • Value Estimation
      $1,135,000
      97,416 SF

      6220 Westpark Dr

      OFFICE BUILDING • 97,416 SF
      6220 Westpark Dr, Houston, TX 77057-7371
      View Details
    • Value Estimation
      $700,000
      34,851 SF

      5701 Woodway Dr

      OFFICE BUILDING • 34,851 SF
      5701 Woodway Dr, Houston, TX 77057-1515
      View Details
    • Value Estimation
      $350,000
      218,013 SF

      6363 Woodway Dr

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 218,013 SF
      6363 Woodway Dr, Houston, TX 77057-1735
      View Details
    • Value Estimation
      $630,000
      14,480 SF

      6213 Skyline Dr

      OFFICE BUILDING • 14,480 SF
      6213 Skyline Dr, Houston, TX 77057-7036
      View Details
    • Value Estimation
      $110,000
      172,386 SF

      5851 San Felipe St

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 172,386 SF
      5851 San Felipe St, Houston, TX 77057-3076
      View Details
    • Value Estimation
      $690,000
      40,497 SF

      6150 Richmond Ave

      OFFICE BUILDING • 40,497 SF
      6150 Richmond Ave, Houston, TX 77057-6229
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,761 SF

      Galleria Redevelopment Opportunity

      Value-add office space with easy highway access.
      6029 Skyline Dr, Houston, TX 77057
      View Details
    • Contact for pricing
      2.30 Acres

      Galleria Area Development Land

      2.3 Acres, Prime Houston Location
      6111 Richmond Ave, Houston, TX 77057
      View Details
    • Contact for pricing
      2.74 Acres

      Richmond Ave. Retail Opportunity

      Galleria Area, High-Traffic Retail Space
      5800 Richmond Ave, Houston, TX 77057
      View Details
    • $220,000
      1,177 SF

      Tanglewood Adjacent Condo with Garage

      Spacious 2 bed, 2 bath condo with attached 2-car garage.
      1201 Bering Dr, Houston, TX 77057
      View Details
    • $169,000

      Galleria Area Residence with Upgrades

      Updated 2 bed, 1 bath near Galleria with utilities included.
      5863 Inwood Dr, Houston, TX 77057
      View Details
    • $110,000

      Updated Condo Near Galleria

      Modern, updated condo in gated complex near Briargrove and Galleria.
      6402 Del Monte Dr, Houston, TX 77057
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      49,009 SF

      Houston Office Building For Lease

      Eight-story office building in Houston's San Felipe/Voss submarket.
      675 Bering Dr, Houston, TX 77057
      View Details
    • Contact for pricing
      2,333 SF

      Functional Office Suites For Rent

      Office suites with functional layouts and excellent natural light.
      6116 Skyline Dr, Houston, TX 77057
      View Details
    • Contact for pricing

      Office Space Available for Rent

      Office space for rent at 800 Bering Drive, Houston.
      800 Bering Dr, Houston, TX 77057
      View Details
    • $22 SF/Yr
      2,435 SF

      Office Building Near Galleria/Uptown

      Six-story office building with modern amenities and convenient location.
      1220 Augusta Dr, Houston, TX 77057
      View Details
    • $18 SF/Yr
      8,253 SF

      Office Space for Rent

      Office space available for lease in Houston, TX.
      510 Bering Dr, Houston, TX 77057
      View Details
    • $2,025 /Mo
      154,290 SF

      Furnished Office Space Available

      Fully-furnished office space with amenities in Houston, TX.
      5718 Westheimer Rd, Houston, TX 77057
      View Details
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    6117 Richmond Ave
    Houston, TX 77057-6256
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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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