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

    21927 Clay Rd Katy, TX 77449-0816

    • Strip malls
    • 20,388 SF
    • 1.96 lot acres
    OFF-MARKET
    Value Estimations
    $615,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-0934588
    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

    • American Nail House / Waxing Hair Removal Service / Nail Salon
    • Serenity Dental of Katy / Dental Implants Provider / Emergency Dental Service
    • Jeffrey Chung / Dentist
    • Johnson Cheng / Dentist
    • Natalie Vos / Dentist

    Property Details for 21927 Clay Rd

    Year built
    2017
    Construction
    STEEL FRAME
    Lot size
    1.96 lot acres
    Property size
    20,388 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    1381710020001
    APU
    1381710020001

    Description

    This exceptional 1-story, 15,737 square foot building, constructed in 2018, offers 1,500 square feet of immediately available office space in a prime Katy, Texas location. Situated at the southeast corner of Grand Parkway (Highway 99) and Clay Road, this property boasts excellent visibility and accessibility. The space is ideal for executive or medical office use, featuring a "vanilla box" layout ready for tenant build-out. The building benefits from a strong tenant mix, including Fresenius Dialysis and Paragon Infusion therapy. Enjoy convenient cross-access with a CVS Pharmacy and ample parking with 124 spaces. This location is experiencing significant growth, with nearly 6,000 new homes planned or under construction within a 3-mile radius, along with three new Katy ISD schools in the pipeline. Two prominent 36-foot pylon signs on Grand Parkway and Clay Road provide exceptional signage opportunities. The property is located in Harris County's Far West submarket, at 21927 Clay Rd, Katy, TX 77449, and is easily accessible from the major east-west thoroughfare, Clay Road. A new 433,000+ square foot industrial park is also under development across Grand Parkway, further enhancing the area's appeal and potential for future growth. This is a rare opportunity to secure space in a thriving commercial center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $540,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $692,000
      Market price range: $445k - $789k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $595,000
      Current use
      WAREHOUSE, STORAGE
      $865,000
      Change: +45% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $640,000
      Change: +8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Katy
    County
    Harris
    State
    Texas
    Longitude
    -95.759
    Latitude
    29.8311
    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
    $71,808
    $1,278,705
    $2,976,135
    $4,254,840
    -
    $1,278,705
    $2,976,135
    $4,254,840

    Comparable in this City

    • Value Estimation
      $705,000
      34,295 SF

      1801 Mason Rd

      SHOPPING CENTER, STRIP CENTER • 34,295 SF
      1801 Mason Rd, Katy, TX 77449-2844
      View Details
    • Value Estimation
      $550,000
      14,172 SF

      2922 Mason Rd

      SHOPPING CENTER, STRIP CENTER • 14,172 SF
      2922 Mason Rd, Katy, TX 77449-7380
      View Details
    • Value Estimation
      $645,000
      24,900 SF

      5502 Fry Rd

      SHOPPING CENTER, STRIP CENTER • 24,900 SF
      5502 Fry Rd, Katy, TX 77449-5795
      View Details
    • Value Estimation
      $530,000
      16,095 SF

      3902 Fry Rd

      SHOPPING CENTER, STRIP CENTER • 16,095 SF
      3902 Fry Rd, Katy, TX 77449-6840
      View Details
    • Value Estimation by Request
      13,386 SF

      19909 Morton Rd

      SHOPPING CENTER, STRIP CENTER • 13,386 SF
      19909 Morton Rd, Katy, TX 77449-3715
      View Details
    • Value Estimation
      $510,000
      11,444 SF

      6133 Fry Rd

      SHOPPING CENTER, STRIP CENTER • 11,444 SF
      6133 Fry Rd, Katy, TX 77449-5849
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,684 SF

      Retail Property on Fry Road

      Retail property with high visibility and strong traffic counts.
      2125 North Fry Rd, Katy, TX 77449
      View Details
    • $1,830,748
      2.33 Acres

      Grand Pkwy Pad Site - Katy, TX

      ±2.33 Acres, 4 Pads, High-Traffic Location
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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
    • $3,600,000

      Truck Parking Facility For Sale

      3.076-acre truck parking facility with income potential.
      20820 Park Row Dr, Katy, TX 77449
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    • $950,000

      Land in West Houston Area

      Land available in a well-developed, densely populated area.
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    • $359,990

      Move-In Ready Condo in Katy

      Condominium in gated community near University Center and Katy Asian Town.
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    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space Near Major Retailers

      Retail space available in high-traffic area near major retailers.
      23021-23027 Morton Ranch Rd, Katy, TX 77449
      View Details
    • $24 SF/Yr
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      West 529 Retail Center Opportunity

      Prime Retail Space, Cypress, TX. Three Suites Available
      21211 Fm 529, Katy, TX 77449
      View Details
    • Contact for pricing
      100,000 SF

      Prime Retail Space in Katy

      Dominant intersection location with high visibility and significant growth potential.
      Fm 529, Katy, TX 77449
      View Details
    • Contact for pricing
      6,485 SF

      Retail and Restaurant Spaces Available

      Retail, restaurant, and nail salon spaces for lease.
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      View Details
    • $24 SF/Yr
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      Mayde Creek Village Retail Space

      Katy, TX Retail Space - 2,800 SF Available
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    • Contact for pricing
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      Shops on Fry Retail Space

      Katy, TX Retail Center: 2,333 SF Available
      6078 Fry Rd, Katy, TX 77449
      View Details
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    21927 Clay Rd
    Katy, TX 77449-0816
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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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