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

    23033 Grand Cir Blvd Katy, TX 77449-2460

    • Office buildings
    • 39,543 SF
    • 1.78 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-7506812
    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 Grand Dental / Dentist
    • NewVision Title / Title Company
    • Allegiance Title Company Katy / Title Company
    • Energy Realty / Real Estate Agency
    • Newmark Homes Design Studio / Home Builder

    Property Details for 23033 Grand Cir Blvd

    Year built
    2017
    Construction
    STEEL FRAME
    Lot size
    1.78 lot acres
    Property size
    39,543 SF
    Property type
    Office buildings
    APN
    1213880030001
    APU
    1213880030001

    Description

    This exceptional freestanding retail building, known as Grand Circle Center, presents a prime leasing opportunity in the thriving Katy, Texas market. Located at 23033 Grand Circle Blvd, 77449, this property boasts a total of 24,500 square feet, with 3,573 square feet currently available for lease. The building is situated on a substantial 1.78-acre lot encompassing 77,537 square feet, providing ample space and visibility. The property's classification as a multi-tenant building offers flexibility and potential for various retail businesses. Its location in Harris County ensures easy access to major transportation routes and a dense population base. The available 3,573 square feet presents a unique chance to establish or expand a retail presence in a high-traffic area. This freestanding structure offers excellent visibility and independent branding opportunities, unlike spaces within larger shopping centers. The substantial lot size allows for ample parking and potential for future expansion or outdoor amenities. This property is ideal for businesses seeking a prominent location with high visibility and convenient access for customers. The existing infrastructure and ample space make it a turnkey solution for a variety of retail concepts. Serious inquiries are encouraged to explore this exceptional leasing opportunity in the dynamic Katy market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Katy
    County
    Harris
    State
    Texas
    Longitude
    -95.77
    Latitude
    29.7867
    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
    $129,537
    $1,938,225
    $5,461,512
    $7,399,737
    -
    $1,938,225
    $5,461,512
    $7,399,737

    Comparable in this City

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      21420 Merchants Way

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    • Value Estimation
      $415,000
      133,479 SF

      2002 Grand N Pkwy

      OFFICE BUILDING • 133,479 SF
      2002 Grand N Pkwy, Katy, TX 77449-1963
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    • Value Estimation
      $685,000
      105,681 SF

      1904 Grand N Pkwy

      OFFICE BUILDING • 105,681 SF
      1904 Grand N Pkwy, Katy, TX 77449-1697
      View Details
    • Value Estimation
      $350,000
      75,505 SF

      2322 Grand N Pkwy

      OFFICE BUILDING • 75,505 SF
      2322 Grand N Pkwy, Katy, TX 77449-2175
      View Details
    • Value Estimation
      $650,000
      21,200 SF

      23027 Elkana Deane Ln

      OFFICE BUILDING • 21,200 SF
      23027 Elkana Deane Ln, Katy, TX 77449-3696
      View Details
    • Value Estimation by Request
      23,448 SF

      5503 Fry Rd

      OFFICE BUILDING • 23,448 SF
      5503 Fry Rd, Katy, TX 77449-5845
      View Details

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      Katy Warehouse with Office Space

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      West Houston Warehouse with Office

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    Katy, TX 77449-2460
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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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