Five Riverway — Sale in Houston, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Houston, TX 77056
  • Year built: 1983

Photos

Five Riverway — Sale in Houston, TX, photo 1 of 2
Five Riverway — Sale in Houston, TX, photo 2 of 2

Description

Five Riverway is nestled in a park-like setting that includes a five-building mixed-use development totaling approximately 1.7 million square feet. 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 CEO’s, 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 high-end housing for the ever-growing Houston market, for those seeking to live close in. Investment Highlights: • Ideal Owner-Occupier Office Opportunity • Designated Garage Parking with Visitor Parking at Building Entrance • Quiet Park-Like Setting • Greenspace Throughout the 28-Acre Park • Starbucks Operator and Two Fast Casual Food Options within the Park • Limitless Restaurant Options within One Mile of the Building • Numerous Shopping Options within Five Minutes of the Building

Market Context

This office in Houston, TX is listed for sale. The building dates to 1983. Compare it against other office listings for sale in Houston, TX — view the full market.

As of Q1 2026, the Houston office market showed a 26.1% vacancy rate, and average asking rents near $31.77/SF/yr. Source: multiple brokerage reports, Q1 2026.

Above-average vacancy gives buyers leverage and a wide set of comparables.

Office market FAQ

Is the Houston office market tightening or softening?
Vacancy is around 26.1% (Q1 2026).

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