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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1321 Westgreen Blvd Katy, TX 77450

    • Strip malls
    • 16,354 SF
    • 1.64 lot acres
    OFF-MARKET
    Value Estimations
    $520,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-0448280
    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

    • Long Coffee / Coffee Shop
    • Maika’i Hawaiian BBQ / Restaurant / Barbecue Restaurant
    • 7Spice / Restaurant / Seafood Restaurant
    • SMOKE ALLEY / Tobacco Shop / Vaporizer Store
    • RAKKAN Ramen - Katy / Ramen Restaurant

    Property Details for 1321 Westgreen Blvd

    Year built
    2018
    Construction
    STEEL FRAME
    Lot size
    1.64 lot acres
    Property size
    16,354 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    1392970010001
    APU
    1392970010001

    Description

    This exceptional 1,966 square foot retail space is situated in the thriving Katy business district at 1321 N Westgreen Blvd, Katy, TX 77449, within Harris County. The property, part of the Westgreen Commons complex, offers excellent visibility and accessibility, boasting a prominent pylon sign with "black blacks" to enhance tenant signage. The space is part of a larger 16,272 square foot building with ample parking, ideal for restaurant use. Its location provides easy access to major freeways, including Interstate 10 and the 99 Grand Parkway, and benefits from the proximity of three business travel hotels: Hyatt Place and Holiday Inn Express among them. This single-suite space is currently vacant and ready for immediate occupancy. The property is categorized as retail and restaurant space, making it suitable for a variety of businesses. The convenient location and ample parking make this an attractive opportunity for businesses seeking high visibility and accessibility in a bustling commercial area. This is a unique opportunity to establish a presence in a high-traffic area with strong potential for growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $515,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $527,000
      Market price range: $136k - $527k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $390,000
      Current use
      AUTO REPAIR, GARAGE
      $830,000
      Change: +114% Conversion: Difficult
      WAREHOUSE, STORAGE
      $785,000
      Change: +101% Conversion: Difficult
      RETAIL STORES
      $665,000
      Change: +71% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Katy
    County
    Harris
    State
    Texas
    Longitude
    -95.7361
    Latitude
    29.7874
    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
    $66,965
    $1,070,655
    $2,746,008
    $3,816,663
    -
    $1,070,655
    $2,746,008
    $3,816,663

    Comparable in this City

    • Value Estimation
      $575,000
      27,131 SF

      20660 Westheimer Pkwy

      SHOPPING CENTER, STRIP CENTER • 27,131 SF
      20660 Westheimer Pkwy, Katy, TX 77450-5935
      View Details
    • Value Estimation
      $485,000
      14,332 SF

      22121 Katy Fwy

      SHOPPING CENTER, STRIP CENTER • 14,332 SF
      22121 Katy Fwy, Katy, TX 77450-1740
      View Details
    • Value Estimation
      $380,000
      29,123 SF

      1630 Mason Rd

      SHOPPING CENTER, STRIP CENTER • 29,123 SF
      1630 Mason Rd, Katy, TX 77450-4563
      View Details
    • Value Estimation
      $590,000
      32,068 SF

      1550 Mason Rd

      SHOPPING CENTER, STRIP CENTER • 32,068 SF
      1550 Mason Rd, Katy, TX 77450-4558
      View Details
    • Value Estimation
      $505,000
      18,381 SF

      1115 Mason Rd

      SHOPPING CENTER, STRIP CENTER • 18,381 SF
      1115 Mason Rd, Katy, TX 77450-3842
      View Details
    • Value Estimation
      $490,000
      17,348 SF

      1270 Mason Rd, Unit 1

      SHOPPING CENTER, STRIP CENTER • 17,348 SF
      1270 Mason Rd, Katy, TX 77450-4552
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Katy Mixed-Use Investment Opportunity

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      Katy Retail Showroom with Warehouse

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      19.20 Acres

      Katy Industrial Land - 19.2 Acres

      Prime Katy land, ideal for multi-family or industrial development.
      0 Westgreen Blvd, Katy, TX 77450
      View Details
    • $2,200,000
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      Katy Industrial Property For Sale

      13,392 SF industrial property available in Katy, Texas.
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      View Details
    • $872,000

      Cleared Land Near Westheimer Parkway

      Unincorporated +/-1.539 acre commercial land parcel for sale.
      0000 Westheimer Pkwy, Katy, TX 77450
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      9,326 SF

      Mason Road Center Retail Space

      Houston Retail Center: 9,326 SF Available
      0 Sec Of Mason Rd & Kingsland Blvd, Houston, TX 77450
      View Details
    • $22 SF/Yr
      12,100 SF

      Katy Retail Center Investment Opportunity

      High-traffic Katy, TX retail center with 12,100 SF vacant.
      870 Mason Rd, Katy, TX 77450
      View Details
    • $16 SF/Yr
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      Applewhite Dr Retail Center

      1,296 sq ft available in Katy, TX
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      Greentrails Plaza Retail Space

      Katy, TX Strip Center - High-Traffic Location
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    • Contact for pricing
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      Katy Retail Center Investment Opportunity

      Prime Katy location, 12 retail spaces available.
      22756 Westheimer Pkwy, Katy, TX 77450
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      97,306 SF

      Cinco Ranch Retail Space Available

      Katy, TX Shopping Center Opportunity
      22010-22140 Westheimer Pkwy, Katy, TX 77450
      View Details
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    1321 Westgreen Blvd
    Katy, TX 77450
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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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