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    16503 Air Center Blvd Houston, TX 77032

    Sponsored
    For Lease
    $16 SF/Yr

    Class A Flex Space, IAH Access

    Lot size:
    40,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    411
    This exceptional Class A flex industrial property, totaling 40,000 square feet, offers a unique opportunity for businesses seeking versatile space near George Bush Intercontinental Airport (IAH). Located in the prestigious Central Green business park, this property boasts two connected buildings, constructed with a durable concrete tilt-wall system and updated in 2020 and 2021. The buildings feature a high 22-foot ceiling height, providing ample room for various uses, including executive office, warehouse, coworking, flex, distribution, R&D, traditional office, and creative office space. With a minimum divisible space of 6,000 square feet and a maximum contiguous space of 22,000 square feet, this property is ideal for a range of business sizes. The property sits on a substantial 8.98 acres of land, offering 292 parking spaces, four loading docks, two drive-in doors, and two acres of paved outside storage area built on 6-7 inches of reinforced concrete. Conveniently located one block north of the Hardy Toll Road, it provides quick access to IAH and major Houston roadways. The property features high-quality finishes, both interior and exterior, and is situated in a highly deed-restricted business park. The property's address is Air Center Blvd and Central Green Blvd in Harris County, with APN 1246370010001. Currently, 6,000 square feet of space is available. This is a rare opportunity to secure prime industrial space in a highly desirable location.

    Property Features for 16503 Air Center Blvd

    General Information

    Property type
    Life science properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    40,000 SF
    Class
    A
    Total Rate
    55200

    Building Details

    Year Built/Renovated
    2000/2021
    Buildings
    2
    Stories
    1

    Unit(s) available at that property

    Space
    Unit B
    Size
    6,000 SF
    Rate per SF
    $16

    We can help!

    Listing Contact
    Logan Zhou
    Logan Zhou

    Learn more

    HighLights

    • High‑end, tilt‑up flex industrial building on a 4.4‑acre site with excellent tenant improvements.
    • Located in the Central Green business park, offering easy access to George Bush Intercontinental Airport via the Hardy Toll Road.
    • 40,000 SF flex building (two connected buildings) with 6,000‑22,000 SF divisible spaces; 4.4‑acre site with ample parking and 2 acres of paved outside storage; not in a flood zone.
    • Class A property, built in 2000, renovated in 2021, featuring 22' ceilings, 4 loading docks, 2 drive‑ins, and 292 parking spaces.
    • Located in Harris County, with frontage on Air Center Blvd and Central Green Blvd.
    Property Profile Location Intelligence

    Current Use by Public Records

    TSA Government Office Ervin Cable Construction Contractor

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Building Supply Hair Salon Auto Repair Shop Wholesale Shop Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3726664
    Latitude
    29.9601653

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    FAQs

    What type of property is this?
    Life science property - Class A Flex Space, IAH Access
    Where is this life science property located?
    The property is located at 16503 Air Center Blvd Houston, TX.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: High-end, tilt-up flex industrial building on a 4.4-acre site with excellent tenant improvements.; Located in the Central Green business park, offering easy access to George Bush Intercontinental Airport via the Hardy Toll Road.; 40,000 SF flex building (two connected buildings) with 6,000-22,000 SF divisible spaces; 4.4-acre site with ample parking and 2 acres of paved outside storage; not in a flood zone.
    Request Owner's contact information
    16503 Air Center Blvd Houston, TX 77032
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    Houston, TX 77032
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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
    16503 Air Center Blvd Houston, TX 77032
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    We can help!
    Listing Contact
    Logan Zhou
    Logan Zhou
    Real Estate License ID: TX 0639394
    Learn more
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