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    1322 Space Park Dr Houston, TX 77058

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    Two-story office building near I-45, Kemah Boardwalk, and Johnson Space Center.

    Type:Office
    Added:
    Apr 24, 2020
    Days on Market:
    2192
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 1322 Space Park Dr

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1966

    Spaces For Lease

    at 1322 Space Park Dr Contact us

    Suite C105-F $26 /Mo

    Size
    318 SF
    Type
    Office
    Private window office With Access to Shared Waiting Area, Conference Rooms, Huddle...
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    Suite A203 $24 /Mo

    Size
    676 SF
    Type
    Office
    Reception with sidelight, 1 window office, & workroom, With Access To Shared Waiting...
    show more
    Contact us

    Suite C230 $28 /Mo

    Size
    280 SF
    Type
    Office
    Fully furnished & decorated window office. Includes shared waiting areas, conference...
    show more
    Contact us

    Suite B-192 $23 /Mo

    Size
    2,287 SF
    Type
    Office
    Reception Area, 3 Window Offices, 1 Interior Office, 1 Bullpen, Dropped Celling
    Contact us

    Suite C242 $26 /Mo

    Size
    178 SF
    Type
    Office
    WORKSTYLE Micro Unit- 1 Interior office with sidelight, built in desk, With Access...
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    Suite A220 $18 /Mo

    Size
    2,898 SF
    Type
    Office
    Reception area, 2 window offices,3 interior offices With Access To Shared Waiting...
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    Contact us

    Suite C243 $26 /Mo

    Size
    178 SF
    Type
    Office
    WORKSTYLE Micro Unit- 1 Interior office with sidelight, built in desk, With Access...
    show more
    Contact us

    Suite A240 $21 /Mo

    Size
    3,635 SF
    Type
    Office
    Reception, 7 window offices, 5 interior offices With Access To Shared Waiting Area,...
    show more
    Contact us

    Suite C106 $23 /Mo

    Size
    1,908 SF
    Type
    Office
    Reception, 4 window offices, 1 Interior office, Access To Shared Waiting Area, Conference...
    show more
    Contact us

    Suite B127 $23 /Mo

    Size
    242 SF
    Type
    Office
    1 Interior Office with a sidelight
    Contact us

    Suite B104 $21 /Mo

    Size
    504 SF
    Type
    Office
    Reception area, Interior office With Access To Shared Waiting Area, Conference Rooms,...
    show more
    Contact us

    Suite C232 $26 /Mo

    Size
    280 SF
    Type
    Office
    window Office With Access To Shared Waiting Area, Conference Rooms, Huddle Rooms...
    show more
    Contact us

    Suite C239 $32 /Mo

    Size
    110 SF
    Type
    Office
    Office With Access To Shared Waiting Area, Conference Rooms, Huddle Rooms & Coffee...
    show more
    Contact us

    Suite A205 $24 /Mo

    Size
    1,231 SF
    Type
    Office
    Reception, 2 window offices, 1 interior office With Access To Shared Waiting Area,...
    show more
    Contact us

    Suite A256 $18 /Mo

    Size
    1,698 SF
    Type
    Office
    2 Reception areas, 9 offices, With Access To Shared Waiting Area, Conference Rooms,...
    show more
    Contact us

    Suite: C105-F $26 /Mo

    Size
    318 SF
    Type
    Office
    Private window office With Access To Shared Waiting Area, Conference Rooms, Huddle...
    show more
    Contact us

    Suite C105-E $25 /Mo

    Size
    318 SF
    Type
    Office
    WINDOW OFFICE With Access To Shared Waiting Area, Conference Rooms, Huddle Rooms...
    show more
    Contact us

    Suite A 282 $26 /Mo

    Size
    299 SF
    Type
    Office
    Reception, 1 Window Office , With Access To Shared Waiting Area, Conference Rooms,...
    show more
    Contact us

    Suite B122 $23 /Mo

    Size
    296 SF
    Type
    Office
    Interior Office With Access To Shared Waiting Area, Conference Rooms, Huddle Rooms...
    show more
    Contact us

    Suite C105-G $23 /Mo

    Size
    287 SF
    Type
    Office
    interior office Access To Shared Waiting Area, Conference Rooms, Huddle Rooms & Coffee...
    show more
    Contact us

    Suite C102 $23 /Mo

    Size
    1,929 SF
    Type
    Office
    Reception with transaction window, 2 window offices With Access To Shared Waiting...
    show more
    Contact us

    Suite A230 $23 /Mo

    Size
    1,463 SF
    Type
    Office
    Rec, 2 window offices, 3 interior offices With Access To Shared Waiting Area, Conference...
    show more
    Contact us

    Suite A194 $23 /Mo

    Size
    3,157 SF
    Type
    Office
    Reception with 2 transaction windows, 1 window office, 4 interior offices Reception,...
    show more
    Contact us

    Suite B181 $25 /Mo

    Size
    1,273 SF
    Type
    Office
    Reception Area, 1 interior, Break Area, Sink, 3 entrances With office Access To Shared...
    show more
    Contact us

    Suite C105-C $26 /Mo

    Size
    318 SF
    Type
    Office
    Reception Area, Office With Access To Shared Waiting Area, Conference Rooms, Huddle...
    show more
    Contact us

    Space C112 $19 /Mo

    Size
    260 SF
    Type
    Office
    Reception Area, Office With Access To Shared Waiting Area, Conference Rooms, Huddle...
    show more
    Contact us

    Suite B147 $30 /Mo

    Size
    237 SF
    Type
    Office
    Sidelight window to courtyard with sidelight overlooking share reception area,1 window,...
    show more
    Contact us

    Space B132 $19 /Mo

    Size
    85 SF
    Type
    Office
    WORKSTYLE interior office with built in desk and chair, Access To Shared Waiting...
    show more
    Contact us
    Show more

    We can help!

    Listing Contact
    Trey Miller

    Listing agent Trey Miller License #TX

    Listing office Boxer Property

    Listing date Apr 24, 2020

    Source Crexi

    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 Boxer Property

    Overview

    Renovated Office Building in Clear Lake

    This recently renovated two-story office building, originally built in 1966, is situated in Clear Lake, with proximity to I-45, Bay Area Blvd, the Kemah Boardwalk, and Johnson Space Center. The location at 1322 Space Park Drive provides convenient access to Clear Lake area banks, hotels, restaurants, movie theaters, and shopping. The building features a loading dock. The leasing office is located at 1322 Space Park Drive Suite A199 Houston, Texas 77058.
    Location Intelligence

    Current Use by Public Records

    Elaine S. Michael ... Law Firm Texas Medical Systems ... (Bike/Boat/Book/etc) Store The Monroe Real Estate ... Real Estate Agency Dynamic Plant Design ... Engineer Alleman Financial - Houston, ... Insurance Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.0963824
    Latitude
    29.5467259

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    FAQs

    What type of property is this?
    Office building - Two-story office building near I-45, Kemah Boardwalk, and Johnson Space Center.
    Where is this office building located?
    The property is located at 1322 Space Park Dr Houston, TX.
    What are key features of this property?
    This property features: Recently renovated office building in the heart of Clear Lake.; Conveniently located minutes from I‑45, Bay Area Blvd, the Kemah Boardwalk, and Johnson Space Center.; Close proximity to Clear Lake area banks, hotels, restaurants, movie theaters, and shopping.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Trey Miller
    Real Estate License ID: TX
    Learn More
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    Realmo Value Estimations

    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.

    More about this property
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