Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    21212 Nwnw Fwy, Unit 685 Cypress, TX 77429-5884

    • Medical offices
    • 164,581 SF
    • 4.49 lot acres
    OFF-MARKET
    Value Estimations
    $5,525,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-1060797
    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

    • Medical offices

    Property Details for 21212 Nwnw Fwy

    Year built
    2008
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.49 lot acres
    Property size
    164,581 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    1324060010009
    APU
    1324060010009

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $8,290,000
      Current use
      AUTO REPAIR, GARAGE
      $8,455,000
      Change: +2% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $7,730,000
      Change: -7% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Cypress
    County
    Harris
    State
    Texas
    Longitude
    -95.6299
    Latitude
    29.9246
    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
    $399,379
    $1,955,890
    $55,873,700
    $57,829,590
    -
    $1,955,890
    $55,873,700
    $57,829,590

    Comparable in this City

    • Value Estimation by Request
      5,215 SF

      12835 Louetta Rd

      MEDICAL BUILDING • 5,215 SF
      12835 Louetta Rd, Cypress, TX 77429-5207
      View Details
    • Value Estimation by Request
      2,424 SF

      16135 Cypress Rosehill Rd

      MEDICAL BUILDING • 2,424 SF
      16135 Cypress Rosehill Rd, Cypress, TX 77429-1429
      View Details
    • Value Estimation by Request
      2,244 SF

      14025 Telge Rd

      MEDICAL BUILDING • 2,244 SF
      14025 Telge Rd, Cypress, TX 77429-1821
      View Details
    • Value Estimation by Request
      4,105 SF

      11950 Grant Rd

      MEDICAL BUILDING • 4,105 SF
      11950 Grant Rd, Cypress, TX 77429-5769
      View Details
    • Value Estimation
      $575,000
      8,659 SF

      14044 Spg Cypress Rd

      MEDICAL BUILDING • 8,659 SF
      14044 Spg Cypress Rd, Cypress, TX 77429-1963
      View Details
    • Value Estimation by Request
      2,922 SF

      16539 Spg Cypress Rd

      MEDICAL BUILDING • 2,922 SF
      16539 Spg Cypress Rd, Cypress, TX 77429-1753
      View Details

    Similar Nearby for Sale

    • $1,880,000
      10,136 SF

      Cypress Property with Multiple Buildings

      Versatile property ideal for office, assisted living, or school.
      17018 Grant Rd, Cypress, TX 77429
      View Details
    • $150,000
      705 SF

      Cypress Office Suite - $150K

      705 SF Vacant Office, Updated, Great Location
      11123 Mccracken Cir, Cypress, TX 77429
      View Details
    • $2,500,000
      8,836 SF

      Cypress Office Building For Sale

      8,836 SF office building with shell space on 1.74 acres.
      14815 Cypress North Houston Rd, Cypress, TX 77429
      View Details
    • $148,000
      675 SF

      Cypress Office Space For Sale

      Office space featuring a conference room, kitchen, and private bathroom.
      11123-11123 Mccracken Cir, Cypress, TX 77429
      View Details
    • Contact for pricing
      1,680 SF

      Cypress Warehouse Space For Sale/Lease

      Modern warehouse space, flexible sizes, immediate occupancy.
      17977 Shaw Rd, Cypress, TX 77429
      View Details
    • Contact for pricing
      1,050 SF

      Cypress Flex Warehouse Portfolio

      Fully Leased Industrial/Office Space
      17944 Cypress Rosehill Rd, Cypress, TX 77429
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      825 SF

      Medical Clinic Space Available

      Professionally built medical clinic featuring multiple exam and reception areas.
      14030 Telge Rd, Cypress, TX 77429
      View Details
    • Contact for pricing
      72,430 SF

      Renovated Medical Office Space Available

      Medical office suites with high visibility and strong demographics.
      21212 Northwest Fwy, Cypress, TX 77429
      View Details
    • Contact for pricing
      168,537 SF

      North Cypress Medical Plaza II

      Medical Office Suites, Prime Location
      21212 Northwest Fwy, Cypress, TX 77429
      View Details
    • $28 SF/Yr
      24,693 SF

      Cypress Office Space for Lease

      Modern Office Suites in Northwest Houston
      12300 Dundee Ct, Cypress, TX 77429
      View Details
    • Contact for pricing
      36,000 SF

      Cypress Medical Office Space for Lease

      Modern medical suites, 2,250 sq ft minimum.
      0 Louetta Rd. & Cutten Rd, Cypress, TX 77429
      View Details
    • Contact for pricing
      56,324 SF

      Cypress Medical Office Suites

      Prime Medical Office Space in Cypress, TX
      21216 Northwest Fwy, Cypress, TX 77429
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    21212 Nwnw Fwy, Unit 685
    Cypress, TX 77429-5884
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.