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    Westpark Dr Houston, TX 77063

    View on Map
    Sponsored
    For Lease
    $13 SF/Yr

    West Houston Office Space: 28 Suites Available

    Lot size:
    111,159 SF

    Property Features for Westpark Dr

    General Information

    Property type
    Other office properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    111,159 SF
    Elevators
    N/A
    Total Rate
    125794.94

    Building Details

    Year Built/Renovated
    1981/2008
    Stories
    6

    Overview

    West Houston Office Suites Available

    Park Centre I, located at Westpark Dr, Houston, TX 77063, features a variety of traditional and executive office suites. Constructed in 1981 and renovated in 2008, the six-story building offers 111,159 square feet of total space, with 26,240 square feet currently available. Suites range from 239 square feet to a maximum contiguous space of 2,526 square feet. The property includes a renovated lobby, on-site maintenance and management, video surveillance, and an exterior lighting system. Tenants benefit from 24-hour secure key card access and ample parking with 397 spaces, achieving a parking ratio of 3.13 spaces per 1,000 square feet. Parking options include covered, garage, and surface spaces, along with a complimentary multi-level parking garage. Additional amenities include free tenant conference facilities, a conference room, a mail room, mail drop boxes, vending machines, and monument signage. The building is located in the Southwest Houston submarket, with convenient access to US-59 South via the Westpark Dr exit. It is situated within the West Belt, West Houston, and Westchase / Westpark Tollway submarkets.

    Spaces For Lease

    at Westpark Dr, Houston, TX 77063 Contact us
    Unit Suite 540

    $18 /Mo

    Size
    511 SF
    Contact us
    Unit Suite 612

    $19 /Mo

    Size
    928 SF
    Contact us
    Unit Suite 614

    $19 /Mo

    Size
    1,460 SF
    Contact us
    Unit Suite 616

    $18 /Mo

    Size
    1,915 SF
    Contact us
    Unit Suite 350

    $17 /Mo

    Size
    2,072 SF
    Contact us
    Unit Suite 604

    $17 /Mo

    Size
    2,082 SF
    Contact us
    Unit Suite 105

    $15 /Mo

    Size
    549 SF
    Contact us
    Unit Suite 602

    $16 /Mo

    Size
    972 SF
    Contact us
    Unit Suite 106

    $21 /Mo

    Size
    279 SF
    Contact us
    Unit Suite 326

    $17 /Mo

    Size
    1,514 SF
    Contact us
    Unit Suite 447

    $18 /Mo

    Size
    1,640 SF
    Contact us
    Unit Suite 318

    $14 /Mo

    Size
    357 SF
    Contact us
    Unit Suite 345

    $14 /Mo

    Size
    445 SF
    Contact us
    Unit Suite 120

    $15 /Mo

    Size
    289 SF
    Contact us
    Unit Suite 210

    $13 /Mo

    Size
    1,606 SF
    Contact us
    Unit Suite 307

    $15 /Mo

    Size
    408 SF
    Contact us
    Unit Suite 508

    $14 /Mo

    Size
    410 SF
    Contact us
    Unit Suite 514

    $14 /Mo

    Size
    410 SF
    Contact us
    Unit Suite 103C

    $15 /Mo

    Size
    459 SF
    Contact us
    Unit Suite 245

    $14 /Mo

    Size
    622 SF
    Contact us
    Unit Suite 260

    $14 /Mo

    Size
    396 SF
    Contact us
    Unit Suite 270

    $14 /Mo

    Size
    1,356 SF
    Contact us
    Unit Suite 290

    $14 /Mo

    Size
    1,376 SF
    Contact us
    Unit Suite 291

    $14 /Mo

    Size
    902 SF
    Contact us
    Unit Suite 323

    $14 /Mo

    Size
    604 SF
    Contact us
    Unit Suite 340

    $14 /Mo

    Size
    445 SF
    Contact us
    Unit Suite 624

    $13 /Mo

    Size
    239 SF
    Contact us
    Unit Suite 633

    $14 /Mo

    Size
    401 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Kathryn Fansler

    Learn more

    Property Insight Report

    HighLights

    • Free tenant conference facilities.
    • Renovated lobby.
    • 24‑hour key card access.
    • Security cameras and exterior lighting.
    • On‑site management and maintenance.
    • Conference room available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office properties & Spaces

    Map

    City
    Houston
    State
    Texas
    Longitude
    -95.53745033331
    Latitude
    29.721253677248

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    FAQs

    What type of property is this?
    Office property - West Houston Office Space: 28 Suites Available
    Where is this office property located?
    The property is located at Westpark Dr Houston, TX.
    What is the lease rate?
    The lease rate is $13-$21 SF/Yr.
    What are key features of this property?
    This property features: Free tenant conference facilities.; Renovated lobby.; 24-hour key card access.
    Request Owner's contact information
    Westpark Dr Houston, TX 77063
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    Houston, TX 77063
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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
    Westpark Dr Houston, TX 77063
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    Kathryn Fansler
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