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    10998 Wilcrest Dr Houston, TX 77099

    • Office buildings
    • 38,294 SF
    • 2.18 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Value Estimations
    $710,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0329860
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • EW Flat Rate Repair, LLC / Truck Repair Shop
    • Snap IT Solutions / Software Company
    • SRI Global Inc. / Engineering Consultant
    • SeniorHealthPro Corporation / Health Insurance Agency
    • Trusted Senior Specialists LLC / Health Insurance Agency / Dental Insurance Agency

    Property Details for 10998 Wilcrest Dr

    Year built
    1981
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.18 lot acres
    Property size
    38,294 SF
    Property type
    Office buildings
    APN
    1128130000039
    APU
    1128130000039

    Description

    This exceptional two-story, Class B office building, totaling 38,294 square feet, presents a fantastic leasing opportunity in Harris County. Built in 1981, the property boasts a desirable location at 10998 Wilcrest Dr. and offers multiple tenancy options, with 7,636 square feet currently vacant. Available spaces range from 227 to 2,575 square feet, catering to a variety of business needs. The building features a welcoming atrium entrance and convenient card key access for enhanced security. A well-maintained elevator ensures easy access to both floors. Tenants benefit from access to a shared conference room, ideal for meetings and presentations. Ample parking is provided, including 16 covered spaces and additional surface parking, eliminating parking hassles for employees and clients. The flexible office design allows for customization to suit individual business requirements. Security lighting enhances safety and peace of mind throughout the property. This property is perfect for businesses seeking a well-maintained, conveniently located office space with a range of desirable amenities. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $580,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $835,000
      Market price range: $553k - $5.25M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.5695
    Latitude
    29.6627
    CBSA code
    26420
    CBSA name
    HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $21,561
    $473,965
    $1,468,849
    $1,942,814
    -
    $473,965
    $1,468,849
    $1,942,814

    Comparable in this City

    • Value Estimation
      $165,000
      194,330 SF

      11111 Wilcrest Dr

      OFFICE BUILDING • 194,330 SF
      11111 Wilcrest Dr, Houston, TX 77099-4310
      View Details
    • Value Estimation by Request
      9,662 SF

      11111 Brooklet Dr, Unit 1

      OFFICE BUILDING • 9,662 SF
      11111 Brooklet Dr, Houston, TX 77099-3541
      View Details
    • Value Estimation
      $380,000
      10,380 SF

      10626 Kinghurst Dr

      OFFICE BUILDING • 10,380 SF
      10626 Kinghurst Dr, Houston, TX 77099-3508
      View Details
    • Value Estimation
      $380,000
      12,840 SF

      10835 Rockley Rd

      OFFICE BUILDING • 12,840 SF
      10835 Rockley Rd, Houston, TX 77099-3405
      View Details
    • Value Estimation by Request
      9,697 SF

      11111 Brooklet Dr, Unit 1

      OFFICE BUILDING • 9,697 SF
      11111 Brooklet Dr, Houston, TX 77099-3541
      View Details
    • Value Estimation by Request
      14,292 SF

      11111 Brooklet Dr Ste, Unit 300

      OFFICE BUILDING • 14,292 SF
      11111 Brooklet Dr Ste, Houston, TX 77099-3555
      View Details

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    Similar Nearby for Lease

    • $16 SF/Yr
      38,294 SF

      Wilcrest Office Building For Lease

      Harris County Office Space Available Now
      10998 Wilcrest Dr, Houston, TX 77099
      View Details
    • Contact for pricing
      19,240 SF

      West Belt Center: Retail Space Available

      Prime Houston Retail, Restaurant, Office Space
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      View Details
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      Houston Retail Space Available
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      Industrial Space Available For Lease

      Industrial property with 10,561 square feet available for lease.
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      View Details
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    Houston, TX 77099
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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
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