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    Fm 528 Rd Friendswood, TX 77546

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    For Lease
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    Friendswood, TX retail opportunity

    Lot size:
    19,445 SF

    Property Features for 0 Fm 528 Rd

    General Information

    Property type
    Office Units
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    19,445 SF
    Class
    A

    Building Details

    Year Built
    2024

    Spaces For Lease

    at 0 Fm 528 Rd, Friendswood, TX 77546 Contact us

    We can help!

    Listing Contact
    Michael Gage
    Michael Gage

    Listing Agency: ZANN COMMERCIAL BROKERAGE Listing Agent: Michael Gage

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional Class A retail space, located in the City Center development in Friendswood, Texas, offers 1,500 to 19,445 square feet of flexible space, perfect for a variety of uses including retail, medical, office, or restaurant establishments. Situated on FM 528, a major thoroughfare, this property benefits from high visibility and accessibility. The development, spanning 106 acres, is a mixed-use project encompassing a hotel, professional/medical offices, luxury apartments/condos, and extensive parkland. The project is slated for phased completion between 2024 and 2028, with groundbreaking anticipated in late summer 2024 and shell delivery approximately eight months later. The development also includes a planned extension of Blackhawk Blvd. to Bay Area Blvd. to enhance traffic flow. This prime location within a thriving community offers significant growth potential and is poised to become a landmark destination. Minimum leasable space is 1,500 square feet, with a total building area of 19,445 square feet. The building is scheduled for completion in 2024. This is an unparalleled opportunity to establish a presence in a rapidly growing area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Friendswood
    County
    Harris
    State
    Texas
    Longitude
    -95.171978416803
    Latitude
    29.521177762966

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    FAQs

    What type of property is this?
    Office units - Friendswood, TX retail opportunity
    Where is this office units located?
    The property is located at Fm 528 Rd Friendswood, TX.
    What are key features of this property?
    This property features: Class A retail space, 1,500-19,445 SF, flexible use (retail, medical, office, restaurant).; High-visibility location on FM 528 in Friendswood, TX's City Center development.; 106-acre mixed-use development including hotel, offices, residential, and parkland; phased completion 2024-2028.
    (281) 382-5460 Call to check price and availability
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    Fm 528 Rd Friendswood, TX 77546
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    Friendswood, TX 77546
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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
    Fm 528 Rd Friendswood, TX 77546
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    Contact for Pricing
    Please call us for current price
    and status of this listing Michael Gage
    Michael Gage
    Real Estate License ID: 0614711
    (281) 382-5460 (281) 280-8088 (832) 915-1000
    Learn more
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