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    5116 Westheimer Rd Houston, TX 77056

    Sponsored
    For Sale
    $8,000,000

    Prime Galleria Area, High-Traffic Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional redevelopment opportunity presents a significant investment in a high-traffic Houston location. Situated directly across from The Galleria Mall, one of Houston's premier shopping destinations attracting 25 million visitors annually, this property boasts unparalleled visibility and accessibility. The 0.46-acre lot encompasses a substantial 20,115 square feet, offering significant potential for a variety of mixed-use developments. The existing building comprises approximately 7,000 square feet on each of its two floors, providing a solid foundation for future plans. Its strategic location on Westheimer Road, a major Houston thoroughfare, ensures high foot and vehicle traffic. Furthermore, its proximity to key transportation arteries, including the 610 Loop, US Highway 59, I-10, and the Westpark Tollway, enhances its appeal and accessibility. The land value is assessed at $425 per square foot, reflecting the prime location and development potential. This property is offered at $8,000,000, presenting a compelling investment opportunity for discerning buyers seeking a high-return project in a thriving Houston market. The property's current zoning and permitted uses should be independently verified.

    Property Features for 5116 Westheimer Rd

    General Information

    Property type
    Individual retail properties

    HighLights

    • $8,000,000 asking price.
    • 20,115 SF lot size.
    • $425/SF land value.
    • Mixed‑use property with bar, restaurant, and storefront subtypes.
    • Redevelopment opportunity.
    • Located across from The Galleria Mall in Houston, TX.
    Property Profile Location Intelligence

    Current Use by Public Records

    A Taghi Fine Apparel ... Men'S Clothing Store A. Taghi Fine Rugs Oriental Rug Store A Taghi Contruction Home Builder

    Suggested Use

    Restaurant Realty agency Spa & Massage Dental Office Law Firm Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.465439441597
    Latitude
    29.740719882038

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    FAQs

    What type of property is this?
    Individual retail property - Prime Galleria Area, High-Traffic Location
    Where is this individual retail property located?
    The property is located at 5116 Westheimer Rd Houston, TX.
    What is the asking price?
    The asking price for this property is $8,000,000.
    What are key features of this property?
    This property features: $8,000,000 asking price.; 20,115 SF lot size.; $425/SF land value.
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    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
    5116 Westheimer Rd Houston, TX 77056
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