Turnkey Office
New
For Sale
$2,395,000
10575 Westoffice Dr, Houston, TX 77042
Flexible office configuration supports owner-user occupancy or a multi-tenant setup.
Property Size12,321 SF
Price / SF$194.38
Days on Market2
Property Features for 10575 Westoffice Dr
General Information
Standard status
Active
Size
12,321 SF
Property subtype
Office
Amenities
The property spans ±12,321 square feet of functional office space
Designed to support both single-tenant and multi-tenant configurations, with layouts that can be adapted to fit a variety of professional uses.
Opportunity for owner-users looking to consolidate operations, establish a headquarters presence or lease out additional suites to complementary professional tenants.
Its location reinforces the corridor's identity as a premier professional services destination for different operations.
Recently renovated the turnkey condition of the building minimizes upfront renovation costs and allows for a fast move-in timeline.
The building's flexible layout makes it well-suited for a range of office-based businesses, including medical or healthcare offices, government or municipal agencies, insurance brokerages, engineering and architecture firms, CPA accounting and Law practices.
Building Details
Building Size
12,321 SF
Year Built
1980
Listing Agency:
(713) 452-4370
Listed By:
Preston Williams · License #License(s): TX: 839673
(713) 452-4370
Source:
Marcusmillichap
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 10 at 7:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Preston Williams
Investment Insights
Based on property information with market context.
This 12,321-square-foot office building at 10575 Westoffice Dr in Houston, Texas, was built in 1980 and is presented in turnkey condition. The interior layout is adaptable for a single occupant or multiple office users, providing flexibility for headquarters, shared occupancy, or a combination of uses.
The property is situated within an established professional-services corridor. Nearby tenant sectors include healthcare, government, insurance, and engineering, placing the building within a business-oriented setting with office users in the surrounding area.
The property is situated within an established professional-services corridor. Nearby tenant sectors include healthcare, government, insurance, and engineering, placing the building within a business-oriented setting with office users in the surrounding area.
Key Highlights
- 12,321‑square‑foot office building
- Turnkey condition
- Flexible layout for single- or multi‑tenant occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$143,712
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,874,240
$2.9M
Cap Rate 7%
$2,053,029
$2.1M
Cap Rate 9%
$1,596,800
$1.6M
Market Conditions
NOI Build-Up for 12,321 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$266.1K $21.60/SF
− Vacancy
−$74.5K −$6.05/SF
EGI
$191.6K $15.55/SF
− OpEx
−$47.9K −$3.89/SF
NOI
$143.7K $11.66/SF
Area
Houston, TX
Vacancy
28.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,874,240
Cap Rate 7%
$2,053,029
Cap Rate 9%
$1,596,800
Alternative Uses
Best Use
Office B
$2.05M
$1.80M – $2.40M
NOI $143,712 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.17M
$2.77M – $3.70M
NOI $221,778 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,961
Businesses Nearby
Explore this area
Business Placement
Demographics for 77042, TX
41,177
Population
21,252
Households
1.9
Avg Household Size
34
Median Age
44%
College-Educated
89%
High-School Grad
6.2 sq mi
ZIP Area
6,641
Density / Sq Mi
$57,745
Median Household Income
$40,687
Median Earnings
$1,287
Median Rent
$371,300
Median Home Value
Market
Vacancy Rate% for Office in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office configuration supports owner-user occupancy or a multi-tenant setup.
Where is this office building located?
The property is located at 10575 Westoffice Dr Houston, TX.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: 12,321‑square‑foot office building; Turnkey condition; Flexible layout for single- or multi‑tenant occupancy
