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    Nec Of Katy Hockley Cutoff Rd. And Morton Rd Katy, TX 77493

    Sponsored
    For Lease
    Contact for pricing

    High-traffic retail space, multiple suites available.

    Lot size:
    168,251 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    The Market at Katy Park offers an exceptional retail opportunity in the thriving Katy, Texas market. This 168,251 square foot retail center is situated on a expansive 100-acre lot at the northeast corner of Katy Hockley Cutoff Road and Morton Road, in the highly desirable 77493 zip code. The property features seven individual suites, with sizes ranging from a minimum of 1,627 square feet to a maximum contiguous space of 5,568 square feet, providing flexibility for a variety of businesses. Currently, there are 19,375 square feet of vacant space available for lease, presenting a unique chance to establish a presence in this bustling commercial area. The property's location ensures high visibility and accessibility, benefiting from significant traffic flow. The center is categorized as both retail and land, offering potential for diverse development and expansion opportunities. This Harris County location provides easy access to a large and growing customer base, making it an ideal investment for businesses seeking a prime retail space in a vibrant community. Multiple tenancy options are available, catering to a range of business needs and sizes. This is a rare opportunity to secure a prominent position in one of Katy's most sought-after commercial areas.

    Property Features for 0 Nec Of Katy Hockley Cutoff Rd. And Morton Rd

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    168,251 SF

    Unit(s) available at that property

    Space
    Pad 2
    Size
    0 SF
    Space
    Suite 7
    Size
    2,100 SF
    Space
    Suite 10
    Size
    5,568 SF
    Space
    Suite 14
    Size
    1,627 SF
    Space
    Suite 17
    Size
    3,200 SF
    Space
    Suite 18
    Size
    2,480 SF
    Space
    Suite 19
    Size
    4,400 SF

    We can help!

    Listing Contact
    Matt McKinnerney
    Matt McKinnerney

    Learn more

    HighLights

    • H‑E‑B anchored shopping center.
    • Prime location at Katy Hockley Rd. and Morton Rd. in Houston's rapidly expanding market.
    • Adjacent to Katy Park, a 100‑acre sports complex drawing over 700,000 annual visitors.
    • Retail space and outparcels available for lease.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Katy
    County
    Harris
    State
    Texas
    Longitude
    -95.8091284
    Latitude
    29.8167982

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    FAQs

    What type of property is this?
    Restaurant - High-traffic retail space, multiple suites available.
    Where is this restaurant located?
    The property is located at Nec Of Katy Hockley Cutoff Rd. And Morton Rd Katy, TX.
    What are key features of this property?
    This property features: H-E-B anchored shopping center.; Prime location at Katy Hockley Rd. and Morton Rd. in Houston's rapidly expanding market.; Adjacent to Katy Park, a 100-acre sports complex drawing over 700,000 annual visitors.
    Request Owner's contact information
    Nec Of Katy Hockley Cutoff Rd. And Morton Rd Katy, TX 77493
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    Katy, TX 77493
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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
    Nec Of Katy Hockley Cutoff Rd. And Morton Rd Katy, TX 77493
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    We can help!
    Listing Contact
    Matt McKinnerney
    Matt McKinnerney
    Real Estate License ID: TX
    Learn more
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