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    5757 Woodway Dr Houston, TX 77057

    Sponsored
    For Lease
    Contact for pricing

    Prestigious Houston office space available.

    Lot size:
    41,484 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This recently renovated, low-rise office building offers 41,484 square feet of executive office space in the heart of Houston's Tanglewood neighborhood, near the Galleria. The property boasts a highly desirable location and is currently fully vacant, presenting a unique opportunity for a single tenant or multiple tenants. Individual suites range from a minimum of 726 square feet to a maximum contiguous space of 27,534 square feet, providing flexibility for businesses of various sizes. The building features ample parking with 544 spaces available for tenants and their guests. Located at 5757 Woodway Drive, Houston, Texas 77057, in Harris County, this property provides easy access to major thoroughfares and is situated within a thriving commercial district. The building's modern design and convenient amenities make it an ideal location for businesses seeking a prestigious and functional workspace. The entire building is available for lease, offering a rare chance to secure a significant presence in a prime Houston location. This is an exceptional opportunity for a company seeking to establish or expand its operations in a highly sought-after area. The property's size and layout offer significant potential for customization to meet the specific needs of a tenant or tenants.

    Property Features for 5757 Woodway Dr

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    41,484 SF

    Unit(s) available at that property

    Space
    Suite 215
    Size
    2,393 SF
    Space
    Suite 285
    Size
    5,365 SF
    Space
    Suite 280
    Size
    3,693 SF
    Space
    Suite 290
    Size
    2,499 SF
    Space
    Suite 301
    Size
    13,507 SF
    Space
    Suite 300
    Size
    14,027 SF

    We can help!

    Listing Contact
    Simon Ha
    Simon Ha

    Learn more

    Property Insight Report

    HighLights

    • 41,484 SF of renovated office space in Houston's Tanglewood, near the Galleria.
    • Suite sizes range from 726 SF to 27,534 SF contiguous.
    • 544 parking spaces in a four‑level garage (3.5/1,000 ratio).
    • Excellent walkability and proximity to major residential areas, shopping, and tourist attractions.
    Property Profile Location Intelligence

    Current Use by Public Records

    Best Garage Door ... Garage Door Supplier Stellantis Financial Services Financial Institution Torrado Demolition Demolition Contractor Texas Children's Pediatrics ... Pediatrician Tanglewood Pediatric Dentistry Pediatric Dentist

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4817953
    Latitude
    29.7605326

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    FAQs

    What type of property is this?
    Office Property / Space - Prestigious Houston office space available.
    Where is this office property / space located?
    The property is located at 5757 Woodway Dr Houston, TX.
    What are key features of this property?
    This property features: 41,484 SF of renovated office space in Houston's Tanglewood, near the Galleria.; Suite sizes range from 726 SF to 27,534 SF contiguous.; 544 parking spaces in a four-level garage (3.5/1,000 ratio).
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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
    5757 Woodway Dr Houston, TX 77057
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    We can help!
    Listing Contact
    Simon Ha
    Simon Ha
    Real Estate License ID: TX 592812
    Learn more
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