Property profile

23135 Morton Rnch Rd Katy, TX 77449

OFF-MARKET
Strip malls
Property ID
US83-0432707
14,666 SF 1.06 ac lot Built 2021
Entity Owned 3-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 13,850 square foot retail property, built in 2021, is situated on a 1.06-acre lot at the highly visible intersection of Grand Parkway (99) and Morton Ranch Road in Katy, Texas, zip code 77449. The single-story building features 66 parking spaces and currently has 1,600 square feet of vacant space available for lease. This prime location benefits from exceptional visibility and high traffic counts due to its strategic placement at a major intersection. The surrounding area boasts a thriving mix of retail centers, dining establishments, and entertainment options, creating a destination point for shoppers and diners, thus ensuring high foot traffic for your business. Katy, Texas is renowned for its pro-business environment, low taxes, and robust local economy, providing an ideal setting for business growth. The property's proximity to a rapidly expanding residential community, excellent schools, parks, and recreational facilities guarantees a steady stream of potential customers. The versatile and customizable space is adaptable to a wide range of business needs, offering ample parking and modern facilities. This is an unparalleled opportunity to establish your business in a dynamic and rapidly growing community.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 2021
Construction STEEL FRAME
Total area 14,666 SF
Lot 1.06 ac (46,217 SF)
APN 1393660010003
UPID US83-0432707

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Atm Bank
  • Restaurant
  • Alternative Medicine Practice Spa & Massage Center
  • Furniture & Home Goods
  • (Bike/Boat/Book/etc) Store

Location

23135 Morton Rnch Rd Katy, TX 77449-7832
Katy metro Census 542902 HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$585k
CAP Approach CAP
by Request
Comparable Approach Comparable
$475k
Blend (final) Blend
$530k

Owner & transaction history

since 2023
5 recorded transactions
2023
Price N/A
2019
Price N/A
2019
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

Top alternative use upside
Warehouse, storage $620,000 +45.0%
Industrial (general) $460,000 +7.7%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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