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Office

1.34 Acres South East Corner of Richmond & Las Palmas

4041 Richmond Ave, Houston, TX 77027

Listing Price: $7,890,000

Lot Size
1.34 acres
Price/Acre
$5,880,041
Land Type
Redevelopment

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale 1.34 Acres, located at the South East Corner of 4041 Richmond Avenue & 3707 Las Palmas Street in Houston, Texas 77027. The property is positioned in the Greenway/Upper Kirby Houston submarket with irreplaceable land located on Richmond Avenue (49,347 vehicles per day), one block away from Costco (Richmond Avenue at Weslayan Street). This redevelopment opportunity includes 25,627 square feet of vacant office space, an 18,000 square foot parking garage, and 8,255 square feet of industrial warehouse leasable area, currently occupied by an auto shop. The surrounding area includes Greenway Plaza, which consist of ten prestigious Class A office buildings totaling 4.3 million square feet. Area retailers and entertainment include Costco, IMAX Theater, Panda Express, Chipotle, Palm Beach Tan, multiple local restaurants, and more. Conveniently located near luxury apartments, retail, hospitality, entertainment, and restaurants. This site is ideal for retail or mixed-use redevelopment. Seller intends to sell based on land value only. Seller is currently storing documents in the vacant office building and intends to vacate within 6 months after closing.

Investment Highlights

  • Irreplaceable Location in Greenway/Upper Kirby Submarket with Approx. 285 Feet of Richmond Ave. Frontage and Approx. 200 Feet of Las Palmas St.
  • Inner Loop Location Inside Southwest Freeway (300,045 Vehicles Per Day) and Interstate 610 (208,520 Vehicles Per Day)
  • Annual Average Household Income of $139,900 and Medium Housing Value of $738,864 Within One-Mile Radius
  • $134.99 Per Square Foot (Lot Size)
  • Exposure to Over 49,000 Vehicles Per Day on Richmond Avenue (49,347 Vehicles Per Day)
  • Close Proximity to Houston Galleria | 202,229 Population Within Three Miles

Exclusively Listed By

Office

1.34 Acres South East Corner of Richmond & Las Palmas

Listing Price: $7,890,000

Lot Size
1.34 acres
Price/Acre
$5,880,041
Land Type
Redevelopment

Investment Highlights

  • Irreplaceable Location in Greenway/Upper Kirby Submarket with Approx. 285 Feet of Richmond Ave. Frontage and Approx. 200 Feet of Las Palmas St.
  • Inner Loop Location Inside Southwest Freeway (300,045 Vehicles Per Day) and Interstate 610 (208,520 Vehicles Per Day)
  • Annual Average Household Income of $139,900 and Medium Housing Value of $738,864 Within One-Mile Radius
  • $134.99 Per Square Foot (Lot Size)
  • Exposure to Over 49,000 Vehicles Per Day on Richmond Avenue (49,347 Vehicles Per Day)
  • Close Proximity to Houston Galleria | 202,229 Population Within Three Miles

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale 1.34 Acres, located at the South East Corner of 4041 Richmond Avenue & 3707 Las Palmas Street in Houston, Texas 77027. The property is positioned in the Greenway/Upper Kirby Houston submarket with irreplaceable land located on Richmond Avenue (49,347 vehicles per day), one block away from Costco (Richmond Avenue at Weslayan Street). This redevelopment opportunity includes 25,627 square feet of vacant office space, an 18,000 square foot parking garage, and 8,255 square feet of industrial warehouse leasable area, currently occupied by an auto shop. The surrounding area includes Greenway Plaza, which consist of ten prestigious Class A office buildings totaling 4.3 million square feet. Area retailers and entertainment include Costco, IMAX Theater, Panda Express, Chipotle, Palm Beach Tan, multiple local restaurants, and more. Conveniently located near luxury apartments, retail, hospitality, entertainment, and restaurants. This site is ideal for retail or mixed-use redevelopment. Seller intends to sell based on land value only. Seller is currently storing documents in the vacant office building and intends to vacate within 6 months after closing.

Exclusively Listed By

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