This exceptional office property, located at 12621 Featherwood Dr, Houston, TX 77034, offers 19,074 rentable square feet of versatile space. Situated in Southeast Houston, it enjoys unparalleled access to major thoroughfares including Sam Houston Parkway, Interstate 45, and Highway 3, providing effortless commutes throughout the region. The building's strategic location places it within a 15-minute radius of downtown Houston, Clear Lake, and Hobby Airport, enhancing convenience for both employees and clients. A vibrant atmosphere surrounds the property, with numerous shopping destinations, restaurants, hotels, and residential areas within easy reach. Olive Garden and TGI Fridays are within walking distance, while the Fuqua Shopping Center and Almeda Mall, boasting a variety of retailers, are a short drive away. The building itself offers a high-quality office environment, featuring amenities such as a stunning atrium with natural light, a courtyard, on-site dry cleaning services, and monthly tenant events with local food trucks. Ample parking is available, including over 300 surface spaces and reserved covered parking. Security features include key-card access and on-site security, ensuring a safe and secure work environment. The property also boasts monument signage, enhancing visibility and brand recognition. The building's design incorporates high ceilings, natural light, and a plug-and-play setup, creating a modern and productive workspace. Additional features include a controlled access system, a security system, a kitchen, central heating, and Wi-Fi. The proximity to the University of Houston provides access to a highly skilled workforce. This property presents a unique opportunity for businesses seeking a well-appointed and conveniently located office space in a thriving Houston neighborhood. The annual rate is $24.5 per square foot.
Property Features for 12621 Featherwood Dr, Houston, TX 77034
General Information
Property type
Residential offices
Lease Type
Gross Lease
RSF (Rentable sq. ft)
19,074 SF
Class
B
Total Parking Spaces
337
Elevators
N/A
Total Rate
38942.75
Building Details
Year Built/Renovated
1983/1999
Stories
3
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Courtney Buckout
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Property Insight Report
HighLights
Prime Southeast Houston location near major freeways & Hobby Airport.
19,074 square feet of office space available with ample surface and covered parking.
Enjoy on‑site amenities including food trucks, dry cleaning, and a beautiful atrium.
Residential office - Prime Houston office space, ample parking.
Where is this residential office located?
The property is located at 12621 Featherwood Dr, Houston, TX 77034 Houston, TX.
What is the lease rate?
The lease rate is $24 SF/Yr.
What are key features of this property?
This property features: Prime Southeast Houston location near major freeways & Hobby Airport.; 19,074 square feet of office space available with ample surface and covered parking.; Enjoy on-site amenities including food trucks, dry cleaning, and a beautiful atrium.
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.