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    2603 Fry Rd Katy, TX 77449

    Sponsored
    For Lease
    Contact for pricing

    Prime Katy retail space, multiple suites available.

    Lot size:
    12,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    411
    This exceptional Class A retail property, located at 2603 Fry Rd in Katy, Texas 77449, offers 12,000 square feet of space within the Shops at TowneCenter development. Currently, 6,700 square feet are available for lease, divisible into units ranging from 1,200 to a maximum contiguous 4,350 square feet. Four total suites are available within the single-story, 2025-built building. The property sits on one acre of land and boasts 67 parking spaces for ample customer convenience. A prominent north endcap space of approximately 4,350 square feet offers the potential for a patio, while an inline space of approximately 2,350 square feet is also available. This development is strategically positioned within the thriving Katy submarket, benefiting from its proximity to major retailers such as H.E.B., Home Depot, Firestone, O'Reilly Auto Parts, Walmart, Best Buy, El Rancho Supermercado, and Sam's Club. The location also enjoys excellent visibility and accessibility, situated next to Ursula Stephens Elementary School and less than a mile from Morton Ranch High School and the British International School of Houston, serving a combined student population of 4,386. Furthermore, the TowneCenter development will include significant complementary components, such as 302 Class A apartments, a 42,000 square foot medical office building, a five-story assisted living facility, and an 80,000 square foot climate-controlled self-storage facility, ensuring a vibrant and densely populated surrounding area. This presents a unique opportunity for businesses seeking a high-traffic location within a rapidly growing community.

    Property Features for 2603 Fry Rd

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    12,000 SF
    Class
    A

    Building Details

    Year Built
    2025
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Inline Space
    Size
    2,350 SF
    Space
    North Endcap with Potential Patio
    Size
    4,350 SF

    We can help!

    Listing Contact
    Greg Lee
    Greg Lee

    Learn more

    HighLights

    • ±8,700 SF available in two endcap spaces, each ±4,350 SF; south endcap offers drive‑thru and patio potential.
    • Located within TowneCenter, a mixed‑use development featuring 302 Class A apartments, a 42,000 SF medical office building, a 5‑story assisted living facility, and an 80,000 SF climate‑controlled self‑storage facility.
    • Excellent location adjacent to Ursula Stephens Elementary and within one mile of Morton Ranch High School and the British International School of Houston, serving a combined 4,386 students.
    Property Profile Location Intelligence

    Current Use by Public Records

    EV Connect Charging ... Electric Vehicle Charging Station The Everson Property Management Company

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Katy
    County
    Harris
    State
    Texas
    Longitude
    -95.720557492058
    Latitude
    29.806072743757

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    FAQs

    What type of property is this?
    Restaurant - Prime Katy retail space, multiple suites available.
    Where is this restaurant located?
    The property is located at 2603 Fry Rd Katy, TX.
    What are key features of this property?
    This property features: ±8,700 SF available in two endcap spaces, each ±4,350 SF; south endcap offers drive-thru and patio potential.; Located within TowneCenter, a mixed-use development featuring 302 Class A apartments, a 42,000 SF medical office building, a 5-story assisted living facility, and an 80,000 SF climate-controlled self-storage facility.; Excellent location adjacent to Ursula Stephens Elementary and within one mile of Morton Ranch High School and the British International School of Houston, serving a combined 4,386 students.
    Request Owner's contact information
    2603 Fry Rd Katy, TX 77449
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    Katy, TX 77449
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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
    2603 Fry Rd Katy, TX 77449
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    We can help!
    Listing Contact
    Greg Lee
    Greg Lee
    Real Estate License ID: TX 9004428
    Learn more
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