Five Riverway 5 Riverway 40,053 SF Office Building Houston, TX 77056 For Sale

Five Riverway is nestled in a park-like setting that includes a five-building mixed-use development totaling approximately 1.7 million square foot. The site is composed of Class A office buildings, a Class A multifamily high-rise towering 22 stories and the 378-room Omni Houston Hotel. The 28-acre park is in a beautiful setting and only half a mile from the 610 West Loop and five minutes to the world-renowned 2.4 million square-foot Galleria Shopping Mall.
The offering is situated at the front door to Tanglewood, (https://www.tanglewoodhomes.org), an upper-income neighborhood consisting of over 1,200 homes and home to CEOs, local company owners and decision makers. According to the Houston Association of Realtors (HAR), in 2023 the median appraised value of a home in Tanglewood was $2.046 million.
Five Riverway, formerly a three (3) tenant office building is currently vacant and ready for occupancy by an owner-occupier in search of an alternative to paying rent to a landlord. Former tenants included a title company, a property valuation advisor, and a regional bank. Other than each of the suites needing light cosmetic improvements, such as new paint and carpet, each suite is ready for immediate occupancy.
In the future, the property may be better suited for a residential condominium or apartment tower redevelopment. The site is ideal for a future developer to build highend housing for the ever-growing Houston market, for those seeking to live close in.