Updated Office Building Near
For Sale
Contact for pricing
Pending
6701 Hwy Blvd, Katy, TX 77494
Two-story office building with updated common spaces and ample parking.
Property Size13,574 SF
Days on Market990
Property Features for 6701 Hwy Blvd
General Information
Standard status
Pending
Size
13,574 SF
Class
C
Property subtype
Office
Building Details
Year Built
1980
Year Renovated
2017
Buildings
1
Stories
2
Listing Agency:
Martha Turner | Sotheby's International Realty
Listed By:
Kim Rensimer · License #633889
Source:
Crexi
Added: Dec 20, 2023
Changed: Aug 8
Last Checked: Jul 24 at 2:07PM
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 Martha Turner | Sotheby's International Realty
Investment Insights
Based on property information with market context.
This two-story office building features updated common spaces, flooring, and restrooms. The building offers stairway access on two sides. It is located near I-10 off Hwy Blvd, next to Katy High School. The property is suitable for small business owners and provides ample parking spaces with controlled access. The property size is 13574 square feet.
Key Highlights
- Updated common spaces, flooring, and restrooms.
- Located near I‑10 off Hwy Blvd next to Katy High School.
- Ample 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
$188,915
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
7.56%
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%
$3,778,300
$3.8M
Cap Rate 7%
$2,698,786
$2.7M
Cap Rate 9%
$2,099,056
$2.1M
Market Conditions
NOI Build-Up for 13,574 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
$347.0K $25.56/SF
− Vacancy
−$95.1K −$7.00/SF
EGI
$251.9K $18.56/SF
− OpEx
−$63.0K −$4.64/SF
NOI
$188.9K $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%
$3,778,300
Cap Rate 7%
$2,698,786
Cap Rate 9%
$2,099,056
Alternative Uses
Best Use
Office B
$2.70M
$2.36M – $3.15M
NOI $188,915 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$169.10M
$147.96M – $197.28M
NOI $11,836,920 @ 7.0% cap · market cap 473.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 77494, TX
130,872
Population
44,520
Households
2.9
Avg Household Size
35
Median Age
66%
College-Educated
96%
High-School Grad
37.9 sq mi
ZIP Area
3,453
Density / Sq Mi
$146,105
Median Household Income
$68,773
Median Earnings
$2,044
Median Rent
$450,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with updated common spaces and ample parking.
Where is this office building located?
The property is located at 6701 Hwy Blvd Katy, TX.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Updated common spaces, flooring, and restrooms.; Located near I‑10 off Hwy Blvd next to Katy High School.; Ample parking spaces.
