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    10998 Wilcrest Dr Houston, TX 77099

    Sponsored
    For Lease
    $16 SF/Yr

    Harris County Office Space Available Now

    Lot size:
    38,294 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    410
    This exceptional two-story, Class B office building, totaling 38,294 square feet, presents a fantastic leasing opportunity in Harris County. Built in 1981, the property boasts a desirable location at 10998 Wilcrest Dr. and offers multiple tenancy options, with 7,636 square feet currently vacant. Available spaces range from 227 to 2,575 square feet, catering to a variety of business needs. The building features a welcoming atrium entrance and convenient card key access for enhanced security. A well-maintained elevator ensures easy access to both floors. Tenants benefit from access to a shared conference room, ideal for meetings and presentations. Ample parking is provided, including 16 covered spaces and additional surface parking, eliminating parking hassles for employees and clients. The flexible office design allows for customization to suit individual business requirements. Security lighting enhances safety and peace of mind throughout the property. This property is perfect for businesses seeking a well-maintained, conveniently located office space with a range of desirable amenities. Contact us today to schedule a viewing and explore the possibilities.

    Property Features for 10998 Wilcrest Dr

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    38,294 SF
    Class
    B
    Total Rate
    51058.67

    Building Details

    Year Built
    1981
    Stories
    2

    Unit(s) available at that property

    Space
    1st Fl, Ste 117
    Size
    2,575 SF
    Rate per SF
    $18
    Space
    2nd Fl, Ste 201
    Size
    1,256 SF
    Rate per SF
    $18
    Space
    1st Floor, Ste 105
    Size
    227 SF
    Rate per SF
    $18

    We can help!

    Listing Contact
    Tim Nguyen

    Learn more

    Property Insight Report

    HighLights

    • 38,294 square foot, Class B office building in Harris County.
    • Two‑story building with multiple tenants, currently offering 7,636 square feet of vacant space.
    • Three available office spaces ranging from 227 to 2,575 square feet.
    • Building features include an atrium entrance, card key access, elevator, conference room access, ample surface and covered parking (16 covered spaces), and security lighting.
    • Built in 1981.
    Property Profile Location Intelligence

    Current Use by Public Records

    EW Flat Rate ... Truck Repair Shop Snap IT Solutions Software Company SRI Global Inc. Engineering Consultant SeniorHealthPro Corporation Health Insurance Agency Trusted Senior Specialists ... Health Insurance Agency

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.569640520685
    Latitude
    29.662476483619

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    FAQs

    What type of property is this?
    Office Property / Space - Harris County Office Space Available Now
    Where is this office property / space located?
    The property is located at 10998 Wilcrest Dr Houston, TX.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: 38,294 square foot, Class B office building in Harris County.; Two-story building with multiple tenants, currently offering 7,636 square feet of vacant space.; Three available office spaces ranging from 227 to 2,575 square feet.
    Request Owner's contact information
    10998 Wilcrest Dr Houston, TX 77099
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    Houston, TX 77099
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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
    10998 Wilcrest Dr Houston, TX 77099
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    We can help!
    Listing Contact
    Tim Nguyen
    Real Estate License ID: TX
    Learn more
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