Turnkey Corner Office
For Sale
Contact for pricing
1601 Westheimer Rd., Houston, TX 77006
Turnkey office building with prime corner exposure and seven dedicated gated parking spaces for professional service users.
Property Size4,088 SF
Price / SF$316.78
Days on Market59
Property Features for 1601 Westheimer Rd.
General Information
Standard status
Active
Size
4,088 SF
Total Parking Spaces
7
Property subtype
Office
Additional Details
Business Included
Yes
Traffic Count
21,500 vehicles/day
Listing Agency:
Davis Commercial a Real Estate Company
(713) 528-9776
Listed By:
Mark Davis · License #TX 409852
Source:
Crexi
Added: Jun 11
Changed: Jul 10
Last Checked: Aug 7 at 3:48AM
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 Davis Commercial a Real Estate Company
Investment Insights
Based on property information with market context.
This turnkey office building offers 4,088 square feet of professionally configured space designed for service-oriented office use. The property includes seven dedicated gated parking spaces, supporting convenient access for staff and clients. The layout is positioned to support an in-place tenant experience, with the building presented as move-in ready.
Located at 1601 Westheimer Rd. in Houston, the building sits on a highly visible corner along Lower Westheimer. The frontage provides exposure to more than 21,500 vehicles per day, and the site benefits from a walkable surrounding area with restaurants, boutique retail, and neighborhood amenities.
For tenant and buyer audiences seeking an office presence in a dense urban corridor, the combination of turnkey functionality, professional service configuration, and dedicated gated parking can simplify day-to-day operations. The strong street visibility and established walkable amenities around the property may support businesses that rely on client accessibility and consistent public exposure.
Located at 1601 Westheimer Rd. in Houston, the building sits on a highly visible corner along Lower Westheimer. The frontage provides exposure to more than 21,500 vehicles per day, and the site benefits from a walkable surrounding area with restaurants, boutique retail, and neighborhood amenities.
For tenant and buyer audiences seeking an office presence in a dense urban corridor, the combination of turnkey functionality, professional service configuration, and dedicated gated parking can simplify day-to-day operations. The strong street visibility and established walkable amenities around the property may support businesses that rely on client accessibility and consistent public exposure.
Key Highlights
- 4,088 SF turnkey office building on a highly visible corner along Lower Westheimer
- Exposure to more than 21,500 vehicles per day along Lower Westheimer
- Seven dedicated gated parking spaces
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
$47,682
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
3.68%
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%
$953,640
$953.6K
Cap Rate 7%
$681,171
$681.2K
Cap Rate 9%
$529,800
$529.8K
Market Conditions
NOI Build-Up for 4,088 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
$88.3K $21.60/SF
− Vacancy
−$24.7K −$6.05/SF
EGI
$63.6K $15.55/SF
− OpEx
−$15.9K −$3.89/SF
NOI
$47.7K $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%
$953,640
Cap Rate 7%
$681,171
Cap Rate 9%
$529,800
Alternative Uses
Best Use
Office B
$681.2K
$596.0K – $794.7K
NOI $47,682 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$919.8K – $1.23M
NOI $73,584 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21,500 VPD
Traffic count
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,073
Businesses Nearby
Explore this area
Business Placement
Demographics for 77006, TX
24,129
Population
16,654
Households
1.4
Avg Household Size
36
Median Age
80%
College-Educated
98%
High-School Grad
2.3 sq mi
ZIP Area
10,491
Density / Sq Mi
$102,003
Median Household Income
$73,275
Median Earnings
$1,761
Median Rent
$599,500
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 - Turnkey office building with prime corner exposure and seven dedicated gated parking spaces for professional service users.
Where is this office building located?
The property is located at 1601 Westheimer Rd. Houston, TX.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 4,088 SF turnkey office building on a highly visible corner along Lower Westheimer; Exposure to more than 21,500 vehicles per day along Lower Westheimer; Seven dedicated gated parking spaces
