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    Property profile & analytics

    2002 Grand N Pkwy Katy, TX 77449-1963

    • Office buildings
    • 133,479 SF
    • 7.46 lot acres
    OFF-MARKET
    Value Estimations
    $29,885,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-0215545
    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

    • Katy Area Economic Development Council / Social Service Agency
    • Inframark Community Management / Property Management Company
    • Sheffield Scientific / IT Consulting Firm / (Bike/Boat/Book/etc) Store
    • Tellus Equipment Solutions / Corporate Office
    • ESE Partners / Environmental Consultant / Environment Renewable Natural Resources

    Property Details for 2002 Grand N Pkwy

    Year built
    2015
    Construction
    STEEL FRAME
    Lot size
    7.46 lot acres
    Property size
    133,479 SF
    Property type
    Office buildings
    APN
    1362350010002
    APU
    1362350010002

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $31,080,000
      6.5%
      $28,690,000
      7%
      $26,640,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $31,081,000
      Market price range: $31.1M - $57.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Katy
    County
    Harris
    State
    Texas
    Longitude
    -95.7735
    Latitude
    29.8041
    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
    $384,983
    $4,875,090
    $15,863,973
    $20,739,063
    -
    $4,875,090
    $15,863,973
    $20,739,063

    Comparable in this City

    • Value Estimation
      $2,755,000
      10,592 SF

      1350 Ravello Rd

      OFFICE BUILDING • 10,592 SF
      1350 Ravello Rd, Katy, TX 77449-5199
      View Details
    • Value Estimation
      $1,530,000
      8,062 SF

      21765 Merchants Way

      OFFICE BUILDING • 8,062 SF
      21765 Merchants Way, Katy, TX 77449-2511
      View Details
    • Value Estimation
      $30,380,000
      135,688 SF

      21420 Merchants Way

      OFFICE BUILDING • 135,688 SF
      21420 Merchants Way, Katy, TX 77449-2500
      View Details
    • Value Estimation
      $23,660,000
      105,681 SF

      1904 Grand N Pkwy

      OFFICE BUILDING • 105,681 SF
      1904 Grand N Pkwy, Katy, TX 77449-1697
      View Details
    • Value Estimation
      $16,905,000
      75,505 SF

      2322 Grand N Pkwy

      OFFICE BUILDING • 75,505 SF
      2322 Grand N Pkwy, Katy, TX 77449-2175
      View Details
    • Value Estimation
      $4,220,000
      21,200 SF

      23027 Elkana Deane Ln

      OFFICE BUILDING • 21,200 SF
      23027 Elkana Deane Ln, Katy, TX 77449-3696
      View Details

    Similar Nearby for Sale

    • $390,000
      1,200 SF

      Mason Office Park Condos

      Katy, TX Office Condos - Pre-selling Now!
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    • Contact for pricing
      2.07 Acres

      Katy Land: Prime Retail Site

      2 Acres, Katy, TX - Owner Financing
      0 Clay Rd Rd, Park Row, TX 77449
      View Details
    • $1,830,748
      2.33 Acres

      Grand Pkwy Pad Site - Katy, TX

      ±2.33 Acres, 4 Pads, High-Traffic Location
      & Peek Grand Pkwy, Katy, TX 77449
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    • $950,000

      Land in West Houston Area

      Land available in a well-developed, densely populated area.
      6501 Greenhouse Rd, Katy, TX 77449
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    • $759,000
      Pending

      Katy 4-Plex New Construction

      New construction 4-plex in Katy Waterstone community.
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    • Contact for pricing

      Prime Retail Ready Land

      Land with frontage on Clay Road, ideal for retail.
      20704 Clay Rd, Katy, TX 77449
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    Similar Nearby for Lease

    • Contact for pricing
      2,333 SF

      Shops on Fry Retail Space

      Katy, TX Retail Center: 2,333 SF Available
      6078 Fry Rd, Katy, TX 77449
      View Details
    • $18 SF/Yr
      6,500 SF

      Clay Crossing Medical Center

      Katy, TX Medical Office Building
      3919 Fry Rd, Katy, TX 77449
      View Details
    • Contact for pricing
      11,234 SF

      Shops at Tealbrook II: Katy, TX

      Retail & Restaurant Space Available
      7041 Fry Rd, Katy, TX 77449
      View Details
    • Contact for pricing

      Katy Warehouse and Office Space

      81,000 SF in three buildings available for lease.
      3115 North Fry Rd, Katy, TX 77449
      View Details
    • $19 SF/Yr
      28,362 SF

      Clay Retail Center: Medical Office Space

      Katy medical office suites available
      19560 Clay Rd, Katy, TX 77449
      View Details
    • Contact for pricing
      11,984 SF

      Katy Office Space Available

      Office space available for lease in Katy, Texas.
      2002 West Grand Pkwy North, Katy, TX 77449
      View Details
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    Katy, TX 77449-1963
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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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