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Richmond Tower 3411 Richmond Ave 82,692 SF Office Building Houston, TX 77046 For Sale
INVESTMENT HIGHLIGHTS
- Unique Infill User Opportunity
- Ability to Increase Leasing Momentum at an Exceptional Basis
- Irreplaceable Infill Location
- Opportunity to Capitalize on the RO
- Exceptional Accessibility to Major Thoroughfares
- Exceptional Demographics
EXECUTIVE SUMMARY
JLL Capital Markets, on behalf of ownership, is pleased to present the opportunity to acquire a 100% fee simple interest in 3411 Richmond (“the Property”) an 82,692 square foot office property located in the Greenway Plaza submarket in Houston, TX.
The Property is currently 89% leased and owned by DMC builders, who currently occupies approximately 40% of the building. Upon sale, DMC Builders will enter a short-term (1-2 year) lease back of their space at market rates. 3411 Richmond offers investors a strategic value-add investment that has been well maintained in a highly walkable location via the lease-up of the vacant space.
3411 Richmond is a unique opportunity to purchase a cash flowing office building significantly below replacement cost in the Greenway Plaza submarket. With the new RO development underway, the Property presents compelling value for both owner-occupiers seeking premium amenities and investors targeting strong returns generated by recent increased leasing demand.
The Property is currently 89% leased and owned by DMC builders, who currently occupies approximately 40% of the building. Upon sale, DMC Builders will enter a short-term (1-2 year) lease back of their space at market rates. 3411 Richmond offers investors a strategic value-add investment that has been well maintained in a highly walkable location via the lease-up of the vacant space.
3411 Richmond is a unique opportunity to purchase a cash flowing office building significantly below replacement cost in the Greenway Plaza submarket. With the new RO development underway, the Property presents compelling value for both owner-occupiers seeking premium amenities and investors targeting strong returns generated by recent increased leasing demand.
PROPERTY FACTS Under Contract
Sale Type
Investment or Owner User
Property Type
Office
Building Size
82,692 SF
Building Class
B
Year Built/Renovated
1968/1997
Tenancy
Multiple
Building Height
7 Stories
Typical Floor Size
12,300 SF
Slab To Slab
11’
Building FAR
1.44
Lot Size
1.32 AC
Zoning
None - Unrestricted
Parking
330 Spaces (3.99 Spaces per 1,000 SF Leased)
AMENITIES
- Controlled Access
- Property Manager on Site
- Air Conditioning
Walk Score®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 0410170050079 | Improvements Assessment | $4,887,750 |
| Land Assessment | $5,402,719 | Total Assessment | $10,290,469 |
PROPERTY TAXES
Parcel Number
0410170050079
Land Assessment
$5,402,719
Improvements Assessment
$4,887,750
Total Assessment
$10,290,469
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Richmond Tower | 3411 Richmond Ave
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