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    23051 Kingwood Place Dr Houston, TX 77339
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    Property profile & analytics

    23051 Kingwood Place Dr Houston, TX 77339

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    • Medical Office Space
    • 12,054 SF
    • 2.50 lot acres
    For Lease
    $640,000
    View Listing →
    Office Spaces Available for Rent For Lease
    $640,000
    10,100 SF

    Office Spaces Available for Rent

    Office spaces available, ranging from 1,500 to 10,100 SqFt.

    23051 Kingwood Pl Dr, Houston, TX 77339
    View Listing
    Property ID
    US83-2385981
    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.
    Value Estimations
    $640,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Medical Office Space

    Property Details for 23051 Kingwood Place Dr

    Year built
    2020
    Lot size
    2.50 lot acres
    Property size
    12,054 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    6438-00-00402
    APU
    64380000402

    Description

    This exceptional medical office building, completed in 2020, offers a prime opportunity for healthcare providers seeking flexible and modern space. Located directly across from Kingwood Medical Center in the city of Houston, this property boasts 22,150 square feet of total space, with 12,337 square feet currently available for lease. The building features two available spaces, ranging from a minimum of 1,500 square feet to a maximum contiguous space of 10,100 square feet. The building is a new construction, with Phase I comprising 12,050 square feet and Phase II an additional 10,100 square feet (completion date to be determined). Lease space is delivered in shell condition, allowing tenants to customize their space to meet their specific needs. Ample parking is provided at a ratio of approximately 5.06 spaces per 1,000 square feet. Convenient access to city of Houston water and sewer services is also available. This location offers unparalleled visibility and accessibility for medical professionals seeking a thriving practice environment. The building's modern design and prime location make it an ideal choice for a variety of medical specialties.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $395,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $879,000
      Market price range: $431k - $1.02M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $770,000
      Current use
      COMMERCIAL (GENERAL)
      $830,000
      Change: +7% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $735,000
      Change: -5% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $695,000
      Change: -10% Conversion: Difficult
      RETAIL STORES
      $660,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Kingwood
    County
    Montgomery
    State
    Texas
    Longitude
    -95.2571
    Latitude
    30.0511
    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
    2024
    $42,828
    $1,089,000
    $1,411,000
    $2,500,000
    -
    $1,089,000
    $1,411,000
    $2,500,000

    Comparable in this City

    • Value Estimation
      $680,000
      11,320 SF

      2601 Lk Houston Pkwy

      MEDICAL BUILDING • 11,320 SF
      2601 Lk Houston Pkwy, Humble, TX 77339-5222
      View Details
    • Value Estimation
      $1,165,000
      36,808 SF

      2300 Grn Oak Dr

      MEDICAL BUILDING • 36,808 SF
      2300 Grn Oak Dr, Kingwood, TX 77339-2048
      View Details
    • Value Estimation by Request
      5,602 SF

      3411 Cedar Knls Dr

      MEDICAL BUILDING • 5,602 SF
      3411 Cedar Knls Dr, Humble, TX 77339-2482
      View Details
    • Value Estimation by Request
      3,348 SF

      1520 Grn Oak Pl Ste A

      MEDICAL BUILDING • 3,348 SF
      1520 Grn Oak Pl Ste A, Humble, TX 77339-2489
      View Details
    • Value Estimation
      $680,000
      12,980 SF

      1330 Kingwood Dr

      MEDICAL BUILDING • 12,980 SF
      1330 Kingwood Dr, Humble, TX 77339-3038
      View Details
    • Value Estimation
      $2,670,000
      82,508 SF

      22999 Hwy 59th N

      MEDICAL BUILDING • 82,508 SF
      22999 Hwy 59th N, Kingwood, TX 77339-4412
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Kingwood Land For Sale

      Land suitable for retail, office, medical, and assisted living.
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      Highway Frontage Retail Investment Property

      Multi-tenant retail property in North Houston with highway frontage.
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      4,650 SF

      Kingwood Medical/Professional Building For Sale

      Single-tenant medical/professional building in Kingwood, TX, fully occupied.
      1308 Kingwood Dr, Humble, TX 77339
      View Details
    • Contact for pricing
      4,800 SF

      Medical Office Building Near Hospital

      Single-tenant medical office building near HCA Houston Healthcare Kingwood.
      19701 Kingwood Dr, Kingwood, TX 77339
      View Details
    • Contact for pricing

      Remodeled Office Building in Kingwood

      Remodeled Class B office building in the heart of Kingwood.
      2313 Timber Shadows Dr, Kingwood, TX 77339
      View Details
    • $1,249,000
      4,605 SF

      Humble Office Space For Sale

      Office space available in Humble, Texas, totaling 4,605 square feet.
      3407 Rivers Edge Trl, Humble, TX 77339
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      29,690 SF

      Medical Office Center For Rent

      29,690 SF medical office center in Kingwood, TX.
      201 Kingwood Medical Dr, Kingwood, TX 77339
      View Details
    • Contact for pricing
      16,061 SF

      Medical Office Center For Lease

      Two-building medical office center near HCA Houston Healthcare Kingwood.
      611 Rockmead Dr, Kingwood, TX 77339
      View Details
    • Contact for pricing

      Kingwood Drive Medical/Professional Building

      Single-tenant medical/professional building in Kingwood, TX, 100% occupied.
      1308 Kingwood Dr, Humble, TX 77339
      View Details
    • Contact for pricing

      Medical Building Near HCA Kingwood

      Freestanding medical building with flexible spaces for lease.
      19701 Kingwood Dr, Kingwood, TX 77339
      View Details
    • Contact for pricing
      90,000 SF

      Kingwood Medical Arts Office Building

      Three-story medical office building near I-69 and hospitals.
      300-350 Kingwood Medical Dr, Kingwood, TX 77339
      View Details
    • Contact for pricing

      Kingwood Drive Office Space

      Office space for rent in rapidly expanding Kingwood, Texas.
      1110 Kingwood Dr, Humble, TX 77339
      View Details
    View Listing
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    23051 Kingwood Place Dr
    Houston, TX 77339
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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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