Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    23623 Colonial Pkwy Katy, TX 77493-3456

    • Refrigerated & Cold Storages
    • 538,723 SF
    • 63.65 lot acres
    OFF-MARKET
    Last Sale
    Dec 17, 2021
    Value Estimations
    $18,490,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3417783
    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

    • Southwest Foods Distributing, Inc. / Grocery & Convenience Store / Distribution Center
    • American choice food products / Industrial Manufacturer / Production Facility
    • Refrigerated Food Systems, Inc. / Storage Facility / Warehouse & Storage
    • BFS - Houston / Agricultural Supply / Food Market

    Property Details for 23623 Colonial Pkwy

    Year built
    1995
    Construction
    STEEL FRAME
    Lot size
    63.65 lot acres
    Property size
    538,723 SF
    Property type
    Refrigerated & Cold Storages
    APN
    1183550020001
    APU
    1183550020001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $30,525,000
      Current use
      AUTO REPAIR, GARAGE
      $30,690,000
      Change: +1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Katy
    County
    Harris
    State
    Texas
    Longitude
    -95.7822
    Latitude
    29.7904
    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
    2023
    $1,319,718
    $29,622,401
    $56,377,599
    $86,000,000
    -
    $29,622,401
    $56,377,599
    $86,000,000

    Comparable in this City

    • Value Estimation
      $4,250,000
      79,700 SF

      25002 Clay Rd

      COLD STORAGE • 79,700 SF
      25002 Clay Rd, Katy, TX 77493-2942
      View Details
    • Value Estimation by Request
      8,400 SF

      2409 Katy Fort Bend Rd

      Distribution properties • 8,400 SF
      2409 Katy Fort Bend Rd, Katy, TX 77493
      View Details
    • Value Estimation by Request
      4,200 SF

      2417 Katy Fort Bend Rd

      Distribution properties • 4,200 SF
      2417 Katy Fort Bend Rd, Katy, TX 77493
      View Details
    • Value Estimation by Request
      6,000 SF

      2220 Katy Hockley Cut Off Rd

      Distribution properties • 6,000 SF
      2220 Katy Hockley Cut Off Rd, Katy, TX 77493
      View Details
    • Value Estimation by Request
      3,000 SF

      1213 Ee Ave

      WAREHOUSE, STORAGE • 3,000 SF
      1213 Ee Ave, Katy, TX 77493-1927
      View Details
    • Value Estimation by Request
      6,680 SF

      5019 3rd St

      WAREHOUSE, STORAGE • 6,680 SF
      5019 3rd St, Katy, TX 77493
      View Details

    Similar Nearby for Sale

    • $1,850,000

      Katy Warehouse with Large Lot

      6,000 SF warehouse on over half-acre lot in Old Katy.
      5305 5Th St, Katy, TX 77493
      View Details
    • $3,000,000
      4.00 Acres

      Katy Land: 4 Acres, $3M

      Prime Commercial/Residential Land
      27111 Clay Rd, Katy, TX 77493
      View Details
    • Contact for pricing
      52.00 Acres

      Katy Industrial Land - 52 Acres

      Prime Katy industrial land, build-to-suit potential.
      0 Schlipf Rd And Hwy 90, Katy, TX 77493
      View Details
    • Contact for pricing
      40,080 SF

      Katy Industrial Cold Storage Facility

      40,080 SF Warehouse, Vacant, NNN Lease
      25002 Clay Rd, Katy, TX 77493
      View Details
    • $2,800,000

      Unrestricted Land Near Katy Hockley

      Unrestricted 6.5-7 acre commercial/residential development property for sale.
      6403 Katy Hockley Cut Off Rd, Katy, TX 77493
      View Details
    • $2,250,000
      1,770 SF

      Unrestricted Land with Commercial Potential

      6.78-acre unrestricted property suitable for various commercial ventures.
      4249 Roland Rd, Katy, TX 77493
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      35,385 SF

      13th Street Business Park

      Life science properties • 35,385 SF
      5713 13Th St, Katy, TX 77493
      View Details
    • $8 SF/Yr
      33,480 SF

      Adaptable Industrial Property in Katy

      Versatile industrial property with warehouse functionality and street-front visibility.
      1005 Katyland Dr, Katy, TX 77493
      View Details
    • Contact for pricing
      40,080 SF

      Katy Cold Storage Warehouse Facility

      40,000 SF cold storage warehouse with expansion potential.
      25002 Clay Rd, Katy, TX 77493
      View Details
    • $18 SF/Yr
      16,500 SF

      Katy 5th Business Park Flex Space

      1,500 SF Flex Space - Katy, TX. Immediate Occupancy.
      5350 5Th St, Katy, TX 77493
      View Details
    • $2 SF/Yr
      7,648 SF

      Katy Industrial Park Mixed-Use Opportunities

      New industrial park in Katy with flexible mixed-use spaces.
      5713 13Th St, Katy, TX 77493
      View Details
    • $18 SF/Yr
      7,000 SF

      Katy Fort Bend Business Park Building 1

      Modern Flex Space, Katy, TX
      2302 Katy Hockley Cut Off Rd, Katy, TX 77493
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23623 Colonial Pkwy
    Katy, TX 77493-3456
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!