Westgreen Boulevard Office
For Sale
Contact for pricing
518 Westgreen Blvd, Katy, TX 77450
5,733 SF office building on approximately 1 acre.
Property Size5,733 SF
Lot Size1.00 Acre
Price / SF$261.64
Days on Market279
Property Features for 518 Westgreen Blvd
General Information
Standard status
Active
Size
5,733 SF
Class
B
Lot size
1.00 Acre
Property subtype
Office
Occupancy
30%
Building Details
Year Built
2011
Year Renovated
2017
Stories
2
Listing Agency:
Transwestern Houston
(713) 272-1221
Listed By:
Bobbie Bozarth · License #447440
Source:
Crexi
Added: Nov 5, 2025
Changed: Aug 8
Last Checked: Aug 8 at 11:15AM
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 Transwestern Houston
Investment Insights
Based on property information with market context.
This commercial property features an office building with a total area of approximately 5,733 square feet, situated on a lot of approximately 1 acre. Constructed as a shell building in 2011, the interior was built out in 2017. Approximately 3,822 square feet of the building is currently available and vacant. The property provides ample surface parking. Signage opportunities are available on Westgreen.
Key Highlights
- Vacant 3,822 SF Shell Building Available
- Ample Surface Parking
- Signage Available on Westgreen
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
$79,789
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
5.32%
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%
$1,595,780
$1.6M
Cap Rate 7%
$1,139,843
$1.1M
Cap Rate 9%
$886,544
$886.5K
Market Conditions
NOI Build-Up for 5,733 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
$146.5K $25.56/SF
− Vacancy
−$40.2K −$7.00/SF
EGI
$106.4K $18.56/SF
− OpEx
−$26.6K −$4.64/SF
NOI
$79.8K $13.92/SF
Area
Fort Bend County, TX
Vacancy
27.40%
Lease Rate
$25.56 /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%
$1,595,780
Cap Rate 7%
$1,139,843
Cap Rate 9%
$886,544
Alternative Uses
Best Use
Office B
$1.14M
$997.4K – $1.33M
NOI $79,789 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$71.42M
$62.49M – $83.32M
NOI $4,999,342 @ 7.0% cap · market cap 333.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,172
Businesses Nearby
Explore this area
Business Placement
Demographics for 77450, TX
72,977
Population
26,259
Households
2.8
Avg Household Size
38
Median Age
53%
College-Educated
95%
High-School Grad
19.7 sq mi
ZIP Area
3,704
Density / Sq Mi
$105,607
Median Household Income
$55,656
Median Earnings
$1,730
Median Rent
$342,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - 5,733 SF office building on approximately 1 acre.
Where is this office building located?
The property is located at 518 Westgreen Blvd Katy, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Vacant 3,822 SF Shell Building Available; Ample Surface Parking; Signage Available on Westgreen
