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Property profile & analytics
FOR LEASE
Medical Office Space
23510 Kingsland Blvd, Katy, TX 77494
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-9234980
For Lease
1 / 4
$1,650,000
23510 Kingsland Blvd, Katy, TX 77494
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
48,723 SF
Lot
2.73 ac (118,723 SF)
APN
1214810050002
UPID
US82-9234980
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dr Whitsett post op visit Medical Clinic
-
I&R Dentistry Dental Office
-
Dr. Kehinde O. Ogunmakin, MD Physician Medical Clinic
-
Jeffrey Clay Whitsett Ophthalmologist
-
King's Land Geriatric and Adult Medicine Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.65M
Owner & transaction history
Star 2012 Dev LP · 9 yrs held
Star 2012 Dev LP
since 2016
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Katy submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Katy submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,740,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$1.65M
Range $1.49M – $1.82M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$34 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$247,794
Tax year 2022
Assessed value
$10,800,000
Assessed 2024
Previous assessed
$14,123,394
-23.5% YoY
Effective rate
2.29%
On assessed value
Assessed land
$1,780,845
Assessed improvement
$9,019,155
Land market value
$1,780,845
Improvement market value
$9,019,155
Total market value
$10,800,000
Applied tax rate
19.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
3
Total area
48,723 SF
Lot
2.73 ac (118,723 SF)
APN
1214810050002
UPID
US82-9234980
Jurisdiction
HARRIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$2.7M
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Lot
2.73 ac
Current owner
From public records · entity-resolved
Star 2012 Dev LP
Entity
Mailing address
2 SMT PARK DR STE #540, INDEPENDENCE, OH 44131-2590
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 4, 2016
—
Star 2012 Dev LP
—
Deed
related
$8,000,000 · Miscellaneous Ins Co
—
—
Star 2012 Dev LP
—
Deed Of Trust
related
$8,000,000 · Miscellaneous Ins Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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