Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Versatile Commercial Property in Katy, TX Title is generated by Realmo AI

    20621 Westheimer Pkwy, Katy, TX 77450

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Adaptable commercial property with stable income stream in prime location.

    Type:Mixed Use, Office, Retail
    Property size:
    4,584 SF
    Added:
    Jan 9, 2024
    Days on Market:
    879
    Last Refresh:
    May 12 at 9:27 pm

    Property Features for 20621 Westheimer Pkwy

    General Information

    Standard status
    Active
    Size
    4,584 SF
    Property subtype
    Mixed Use, Office, Retail

    Building Details

    Year Built
    2020

    We can help!

    Listing Contact
    Richard Lin

    Listing agent Richard Lin License #TX 769387

    Listing office GARY GREENE COMMERCIAL PROPERTIES

    Listing date Jan 9, 2024

    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 GARY GREENE COMMERCIAL PROPERTIES

    HighLights

    • Stable income stream with a 5‑year lease from a successful tenant.
    • Prime location at the intersection of Westheimer and S Fry Rd, across from McMeans Junior High.
    • Adaptable usage for retail, flex space, or office, with a flexible layout.
    • State‑of‑the‑art building constructed in 2020 with high‑end finishes.
    • Elevator access ensures accessibility for all.
    • Competitive Capitalization Rate reflects the stability and income potential.

    Overview

    Constructed in 2020, this commercial property is located at the intersection of Westheimer and S Fry Rd in Cinco Ranch, Katy, TX. Currently operating as a dance studio, the property offers a flexible layout that can be repurposed for retail, flex space, or office use. The building features a contemporary design and high-end finishes, creating an upscale environment suitable for various businesses. Large windows enhance its suitability as a showroom. The property is equipped with an elevator, ensuring accessibility. The current tenant, a dance studio owner with a 15-year history, is committed to remaining on-site for an additional five years, providing a dependable income stream. The property offers a competitive Capitalization Rate, reflecting the stability and income potential of the current lease. Positioned across the street from McMeans Junior High School, the property benefits from a consistent flow of potential clients and customers. The property size is 4584 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    BETEL CFA TX Church Dance With Stars ... Training Center Art of Dance Academy Training Center US Dance Company Theater & Performing Art Venue

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Katy
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.734192
    Latitude
    29.737501

    Nearby Similar for Sale

    • $6,922,000
      14,784 SF

      2019 Multi-Tenant Retail Center

      Fully occupied retail center built in 2019 with strong tenant demand in a rapidly growing Katy master-planned area.
      29711 Kingsland Blvd, Katy, TX 77494
      View Details
    • $1,500,000
      1,959 SF

      Farmhouse on Unrestricted Land

      Charming farmhouse on 5.5 acres near Sunterra community.
      5644 Pitts Road, Katy, TX 77493
      View Details
    • $2,590,000
      16,500 SF

      Katy Industrial Property Near I-10

      16,500 SF industrial property with easy access to I-10.
      5350 East 5th Street, Katy, TX 77493
      View Details
    • $5,450,000
      15,077 SF

      Katy Medical Office Building For Sale

      Multi-tenant medical office building in Katy's premier medical corridor.
      21660 Kingsland Blvd S, Katy, TX 77450
      View Details
    • $768,000
      1,225 SF

      Professional Office Condominium For Rent

      Professional office condominium featuring private offices, break room, and reception.
      440 Cobia Drive, Katy, TX
      View Details
    • Contact for pricing
      6,000 SF

      Westgreen Blvd Office Building For Sale

      5,733 SF office building on approximately 1 acre.
      518 Westgreen Blvd, Katy, TX 77450
      View Details
    • Contact for pricing
      5,694 SF

      Katy Automotive Repair Facility

      Automotive repair facility for lease in rapidly growing Katy.
      5959 FM 1463 Rd, Katy, TX 77494
      View Details
    • $6,058,416
      4,457 SF

      Clearwater Express Car Wash Property

      Express car wash property for sale in Katy, Texas.
      24650 Morton Ranch Rd, Katy, TX 77493
      View Details
    • $4,990,000
      16,069 SF

      Retail Center in Katy, Texas

      Retail/Professional center with 16,069 SF net rentable area.
      1602 Avenue D, Katy, TX
      View Details
    • $3,393,000
      8,737 SF

      Katy Retail Investment Opportunity

      Retail property in Katy, TX, with NNN lease agreements.
      1815 S Mason Rd, Katy, TX 77450
      View Details
    • $1,016,897
      4,394 SF

      Katy Office/Warehouse Shell For Sale

      4,394 SF shell office/warehouse suitable for light distribution/manufacturing.
      19962 Franz Rd, Katy, TX 77449
      View Details
    • $1,850,000

      Katy Warehouse with Large Lot

      6,000 SF warehouse on over half-acre lot in Old Katy.
      5305 5TH ST, Katy, TX
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Adaptable commercial property with stable income stream in prime location.
    Where is this mixed-use property located?
    The property is located at 20621 Westheimer Pkwy Katy, TX.
    What are key features of this property?
    This property features: Stable income stream with a 5‑year lease from a successful tenant.; Prime location at the intersection of Westheimer and S Fry Rd, across from McMeans Junior High.; Adaptable usage for retail, flex space, or office, with a flexible layout.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Richard Lin
    Real Estate License ID: TX 769387
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    20621 Westheimer Pkwy, Katy, TX 77450
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!