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    9950 Westpark Dr Houston, TX 77063

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    For Lease
    Contact for pricing

    Office building with renovated lobby, parking, and security features.

    Type:Office
    Added:
    Apr 24, 2020
    Days on Market:
    2189
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 9950 Westpark Dr

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1981

    Spaces For Lease

    at 9950 Westpark Dr Contact us

    Suite 634 $14 /Mo

    Size
    402 SF
    Type
    Office
    Reception, 1 window office & work area.
    Contact us

    Suite 646 $14 /Mo

    Size
    1,289 SF
    Type
    Office
    Reception with glass entry door, 3 window offices and one interior office.
    Contact us

    Suite 302 $16 /Mo

    Size
    645 SF
    Type
    Office
    Reception & 2 window offices
    Contact us

    Suite 317 $14 /Mo

    Size
    357 SF
    Type
    Office
    Window office with access to shared conference room
    Contact us

    Suite 345 $14 /Mo

    Size
    445 SF
    Type
    Office
    Reception, 1 window office & work area
    Contact us

    Suite 106 $21 /Mo

    Size
    279 SF
    Type
    Office
    Interior office with access to the break room
    Contact us

    Suite 101 $14 /Mo

    Size
    1,852 SF
    Type
    Office
    Glass entry with elevator exposure, reception with upgraded flooring, 6 offices with...
    show more
    Contact us

    Suite 440 $17 /Mo

    Size
    445 SF
    Type
    Office
    Reception, 1 window office & work area
    Contact us

    Suite 529 $14 /Mo

    Size
    444 SF
    Type
    Office
    Reception & 1 window office.
    Contact us

    Suite 124 $15 /Mo

    Size
    259 SF
    Type
    Office
    Executive, Window
    Contact us

    Suite 103A $14 /Mo

    Size
    585 SF
    Type
    Office
    Reception, 1 window office, work area
    Contact us

    Suite 307 $15 /Mo

    Size
    408 SF
    Type
    Office
    Reception, 1 window office & work area.
    Contact us

    Suite 550 $14 /Mo

    Size
    659 SF
    Type
    Office
    Reception, 1 window office & 1 interior office
    Contact us

    Suite 340 $14 /Mo

    Size
    445 SF
    Type
    Office
    Reception, 1 window office & work area.
    Contact us

    Suite 540 $18 /Mo

    Size
    511 SF
    Type
    Office
    Reception Area, 1 Window Office.
    Contact us

    Suite 336 $14 /Mo

    Size
    445 SF
    Type
    Office
    Reception, 1 window office & work area
    Contact us

    Suite 290 $14 /Mo

    Size
    1,376 SF
    Type
    Office
    Reception area, 2 Interior Offices, 2 Window offices, and break room with sink.
    Contact us

    Suite 306 $14 /Mo

    Size
    1,221 SF
    Type
    Office
    Reception, 3 window offices, 2 interior offices, 2 entrances
    Contact us

    Suite 350 $17 /Mo

    Size
    2,072 SF
    Type
    Office
    Reception, 3 window offices, 1 interior office, and large conference with glass herculite...
    show more
    Contact us

    Suite 615 $14 /Mo

    Size
    2,795 SF
    Type
    Office
    Reception, 2 window offices, 1 interior office
    Contact us

    Suite 532 $16 /Mo

    Size
    451 SF
    Type
    Office
    Reception, 1 window office and work area.
    Contact us

    Suite 326 $17 /Mo

    Size
    1,514 SF
    Type
    Office
    Reception, 3 window offices, 1 interior office, & conference room.
    Contact us

    Suite 447 $18 /Mo

    Size
    1,640 SF
    Type
    Office
    Reception Area, 3 Window Offices, 1 Interior Office, 1 Conference Room, Open Area
    Contact us

    Suite 105 $15 /Mo

    Size
    549 SF
    Type
    Office
    Reception, 1 interior office
    Contact us

    Space 622 $14 /Mo

    Size
    225 SF
    Type
    Office
    1 Interior Office, Sink, 1 Entrance
    Contact us

    Suite 604 $17 /Mo

    Size
    2,082 SF
    Type
    Office
    Reception and 4 window offices.
    Contact us

    Suite 616 $18 /Mo

    Size
    1,915 SF
    Type
    Office
    Reception area, 3 window offices, and conference room.
    Contact us

    Suite 614 $19 /Mo

    Size
    1,460 SF
    Type
    Office
    Reception, 2 window offices, 3 interior offices, & work area. Monthly rent 2518.5
    Contact us

    Suite 602 $16 /Mo

    Size
    972 SF
    Type
    Office
    Reception, 2 window offices & work area.
    Contact us
    Show more

    We can help!

    Listing Contact
    Kathryn Fansler

    Listing agent Kathryn Fansler License #TX

    Listing office Boxer Property

    Listing date Apr 24, 2020

    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 Boxer Property

    Overview

    Renovated Office Building with Parking

    Park Centre I is an office building featuring a renovated lobby, on-site maintenance and management. The property benefits from a multi-level parking facility and a 24-hour secure key card access system. Security is enhanced by video surveillance and an exterior lighting system. The building is located off US-59 South, accessible from the Westpark Drive exit when traveling from 610.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wong Richard C ... Accounting Firm The Law Office Of Elsa ... Law Firm Azinge Law Firm Law Firm A J Financial Services Financial Advisor THE LAW OFFICE OF JAMES ... Law Firm

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.5375104
    Latitude
    29.7223619

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    FAQs

    What type of property is this?
    Office building - Office building with renovated lobby, parking, and security features.
    Where is this office building located?
    The property is located at 9950 Westpark Dr Houston, TX.
    What are key features of this property?
    This property features: 24‑hour secure key card access for peace of mind; Renovated lobby provides a welcoming entrance; On‑site maintenance and management for tenant support
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kathryn Fansler
    Real Estate License ID: TX
    Learn More
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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
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