Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    518 Westgreen Blvd Katy, TX 77450

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Boutique-style office building near I-10 and Highway 99.

    Type:Office
    Added:
    Jul 1, 2024
    Days on Market:
    642
    Last Refresh:
    Mar 17 at 1:22 pm

    Property Features for 518 Westgreen Blvd

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    2011

    Spaces For Lease

    at 518 Westgreen Blvd Contact us

    We can help!

    Listing Contact
    Bobbie Bozarth

    Listing agent Bobbie Bozarth License #447440

    Listing office Transwestern Houston

    Listing date Jul 1, 2024

    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 Transwestern Houston

    Overview

    Boutique Office Building For Rent

    This boutique-style office building, constructed in 2011 and renovated in 2017, features upgraded finishes throughout. The property is situated in a prime location with convenient access to I-10 and Highway 99. Ample surface parking is available, and signage opportunities are present.
    Location Intelligence

    Current Use by Public Records

    Cornerstone Caregiving Home Health Care Service Slade Shipping Inc. Freight Service FKT28, LLC Big Box & Wholesale Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Katy
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.736048
    Latitude
    29.780534

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      LaCenterra

      2717 Commercial Center Blvd, Unit E200, Katy, TX 77494
      View Details
    • $45/mo

      Modern Retail Space in Katy

      New retail space with frontage on Interstate 10.
      28347 Katy Fwy, Katy, TX
      View Details
    • $15/mo

      Katy Industrial Park Mixed-Use Opportunities

      New industrial park in Katy with flexible mixed-use spaces.
      5713 13th Street, Katy, TX
      View Details
    • $29/mo

      Garage Condo in Garages of Texas

      Luxury garage condo adaptable for various business or personal uses.
      1435 FM 1463, Katy, TX 77494
      View Details
    • $8/mo

      Adaptable Industrial Property in Katy

      Versatile industrial property with warehouse functionality and street-front visibility.
      1005 KATYLAND DR, Katy, TX
      View Details
    • Contact for pricing

      Downtown Katy Office Space Available

      2006 Sq Ft office space in prime Katy location.
      5605 George Bush Dr, Katy, TX 77493
      View Details
    • Contact for pricing

      Functional Office Space Available

      Inviting office space with built-in shelving, ready for occupancy.
      5610 5th St, Katy, TX
      View Details
    • Contact for pricing

      West Houston Warehouse with Office

      11,250 SF warehouse with office space for lease.
      1402 Vanderwilt Lane, Katy, TX 77449
      View Details
    • $24/mo

      Automotive Repair Facility For Lease

      Automotive repair facility in rapidly growing Katy area for lease.
      5959 FM 1463, Katy, TX 77494
      View Details
    • Contact for pricing

      Historic Downtown Katy Office Space

      Professionally restored office building in the heart of Katy.
      5702 4th St, Katy, TX
      View Details
    • $29/mo

      Office Condo For Rent

      Office condo with private access, suitable for professional services.
      24522 Kingsland Blvd, Katy, TX
      View Details
    • $22/mo

      Prime Retail Space in Katy

      Versatile retail space in excellent condition with ample parking.
      22121 Katy Freeway, Katy, TX
      View Details

    FAQs

    What type of property is this?
    Office building - Boutique-style office building near I-10 and Highway 99.
    Where is this office building located?
    The property is located at 518 Westgreen Blvd Katy, TX.
    What are key features of this property?
    This property features: Prime location near I‑10 and Highway 99.; Ample surface parking with signage available.; Boutique‑style office building.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Bobbie Bozarth
    Real Estate License ID: 447440
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!