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

    16822 Eldridge Pkwy Tomball, TX 77377-9078

    • Office buildings
    • 3,318 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimations
    $780,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-0656200
    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

    • Body Radiance & Wellness / Spa & Massage Center / Alternative Medicine Practice
    • Dash Title / Title Company
    • Charlotte Zornes - Your Mortgage Professional NMLS# 621596 / Loan Service / Bank

    Property Details for 16822 Eldridge Pkwy

    Year built
    2017
    Construction
    BRICK
    Lot size
    0.53 lot acres
    Property size
    3,318 SF
    Property type
    Office buildings
    APN
    1364120010005
    APU
    1364120010005

    Description

    This exceptional offering presents two suites within Building 16822 of the prestigious Pelican Park in Tomball, Texas. This single-story, Class B office building, constructed in 2017, boasts a total of 3,408 square feet. The property is part of an eight-building complex, offering a unique blend of traditional and executive office spaces in a thriving Northwest Houston location. Each suite benefits from external CCTV cameras, ensuring enhanced security. The convenient location provides easy access to major thoroughfares including the Grand Parkway (99), Tomball Parkway (249), and Spring Cypress Road, placing you near residential areas, shopping, and dining options. The property's design blends upscale professionalism with a relaxed atmosphere, making it an ideal location for businesses seeking a modern and secure workspace. The complex features a distinctive architectural style and offers a high-quality work environment. This is a multi-tenant building situated at 16822 N Eldridge Pkwy, Tomball, TX 77377. The property's prime location and modern amenities make it a highly desirable investment opportunity. The building's strategic placement at the intersection of North Eldridge and Spring Cypress Road along North Eldridge Parkway offers unparalleled accessibility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $775,000
      6.5%
      $715,000
      7%
      $660,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tomball
    County
    Harris
    State
    Texas
    Longitude
    -95.6075
    Latitude
    30.0115
    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
    $10,767
    $276,600
    $1,111,487
    $1,388,087
    -
    $276,600
    $1,111,487
    $1,388,087

    Comparable in this City

    • Value Estimation
      $1,575,000
      7,108 SF

      12231 Northpointe Blvd

      OFFICE BUILDING • 7,108 SF
      12231 Northpointe Blvd, Tomball, TX 77377-5532
      View Details
    • Value Estimation
      $860,000
      3,776 SF

      16730 Eldridge Pkwy

      OFFICE BUILDING • 3,776 SF
      16730 Eldridge Pkwy, Tomball, TX 77377-9077
      View Details
    • Value Estimation by Request
      1,318 SF

      19231 Hoffman Ests Blvd

      OFFICE BUILDING • 1,318 SF
      19231 Hoffman Ests Blvd, Tomball, TX 77377-7264
      View Details
    • Value Estimation by Request
      2,144 SF

      14410 Mary Jane Ln

      OFFICE BUILDING • 2,144 SF
      14410 Mary Jane Ln, Tomball, TX 77377-6299
      View Details
    • Value Estimation
      $860,000
      3,776 SF

      16714 Eldridge Pkwy

      OFFICE BUILDING • 3,776 SF
      16714 Eldridge Pkwy, Tomball, TX 77377-9077
      View Details
    • Value Estimation
      $840,000
      3,880 SF

      18230 Eldridge Pkwy

      OFFICE BUILDING • 3,880 SF
      18230 Eldridge Pkwy, Tomball, TX 77377-8014
      View Details

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    • Contact for pricing
      625 SF

      Lakewood Office Condominiums

      New Tomball Office Suites, 625-1989 sq ft
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    Similar Nearby for Lease

    • $21 SF/Yr
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      Tomball Executive Office Suites

      Modern, secure office condos in Tomball, TX
      16726 Eldridge Pkwy, Tomball, TX 77377
      View Details
    • $20 SF/Yr
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      Tomball Office, Retail, Medical Space

      Office, retail, or medical space available for immediate occupancy.
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    • $24 SF/Yr
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      Executive Office Suite in Tomball

      Prime Tomball Office Space Available
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    • Contact for pricing
      149,065 SF

      Tomball Medical Office Suites

      Prime Tomball location, multiple suites available.
      249 & Lakewood Xing Dr, Tomball, TX 77377
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    • $31 SF/Yr
      5,904 SF

      Tomball Office Park Investment

      Condo-style offices, prime Tomball location.
      11619 Spring Cypress Rd, Tomball, TX 77377
      View Details
    • Contact for pricing
      2,432 SF

      North Eldridge Medical Office Space

      Medical Office Suite - 2,432 SF Available
      16121 Eldridge Pkwy, Tomball, TX 77377
      View Details
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    Tomball, TX 77377-9078
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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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