Sign Up Successful!
You now have access to more from Realmo!
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

    2501 Westerland Dr, Unit 294 Houston, TX 77063-2207

    • Assisted living facilities
    • 53,580 SF
    • 7.59 lot acres
    OFF-MARKET
    Value Estimations
    $1,070,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-5956139
    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

    • Walk-A-Bout Texas / Retirement Home
    • Senior Allegiance Home Care / Home Health Care Service
    • Sherri A. Moore, Cota / Occupational Therapist
    • Doña fe / Apartment Building
    • Treemont Health Care Center / Nursing Home

    Property Details for 2501 Westerland Dr

    Year built
    1975
    Construction
    BRICK
    Lot size
    7.59 lot acres
    Property size
    53,580 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    1048290000003
    APU
    1048290000003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $775,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,368,000
      Market price range: $528k - $1.37M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $895,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.5309
    Latitude
    29.7388
    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
    $316,166
    $9,919,920
    $5,045,737
    $14,965,657
    -
    $9,919,920
    $5,045,737
    $14,965,657

    Comparable in this City

    • Value Estimation
      $4,570,000
      273,703 SF

      8580 Woodway Dr

      HOMES (RETIRED, NURSING) • 273,703 SF
      8580 Woodway Dr, Houston, TX 77063-2423
      View Details
    • Value Estimation by Request
      40,974 SF

      2501 Westerland Dr

      HOMES (RETIRED, NURSING) • 40,974 SF
      2501 Westerland Dr, Houston, TX 77063-2209
      View Details
    • Value Estimation by Request
      26,856 SF

      2808 Stoney Brk Dr, Unit 210

      HOMES (RETIRED, NURSING) • 26,856 SF
      2808 Stoney Brk Dr, Houston, TX 77063-4611
      View Details
    • Value Estimation
      $1,460,000
      118,738 SF

      7667 Woodway Dr, Unit 149

      HOMES (RETIRED, NURSING) • 118,738 SF
      7667 Woodway Dr, Houston, TX 77063-1540
      View Details
    • Value Estimation
      $1,925,000
      80,571 SF

      2450 Fondren Rd

      MEDICAL BUILDING • 80,571 SF
      2450 Fondren Rd, Houston, TX 77063-2318
      View Details
    • Value Estimation
      $865,000
      36,622 SF

      2539 Gessner Rd

      MEDICAL BUILDING • 36,622 SF
      2539 Gessner Rd, Houston, TX 77063-2034
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,093 SF

      Prime Houston Medical Office

      9,093 SF Medical Office Building, .93 Acres
      8703 Meadowcroft Dr, Houston, TX 77063
      View Details
    • $289,000

      Updated Unit Near Briarbend Park

      Updated 2-bedroom unit with pool views near Briarbend Park.
      7929 Woodway Dr, Houston, TX 77063
      View Details
    • $230,000

      Houston Condo Near Westheimer

      Two-bedroom condo with garage, near Galleria, Midtown, and Downtown.
      2710 Hullsmith Dr, Houston, TX 77063
      View Details
    • $1,200,000
      2,800 SF

      Renovated Warehouse on Corner Lot

      Recently renovated light industrial warehouse on a 10,000 SF lot.
      8921 Daffodil St, Houston, TX 77063
      View Details
    • $90,000

      Condo Near Galleria

      Updated 2-bedroom, 2-bath condo near Galleria with modern amenities.
      8201 Richmond Ave, Houston, TX 77063
      View Details
    • $445,000

      Vacant Land in Houston, TX

      Vacant land opportunity in Houston, TX, for custom construction.
      9102 Richmond Ave, Houston, TX 77063
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      153,189 SF

      Prime Houston Office Space

      Executive & Medical Suites Available
      2500 Fondren Rd, Houston, TX 77063
      View Details
    • $23 SF/Yr
      153,189 SF

      Houston Office Space for Lease

      Prime Houston Office Suites, Multiple Sizes Available
      2450 Fondren Rd, Houston, TX 77063
      View Details
    • Contact for pricing
      32,618 SF

      Westheimer Retail Center

      Houston Retail Space: 2,040-5,288 SF
      9099 Westheimer Rd, Houston, TX 77063
      View Details
    • $1,300,000
      3,375 SF

      Warehouse Near Westheimer

      Warehouse with air-conditioned offices, suitable for lease or sale.
      9236 Kingsville St, Houston, TX 77063
      View Details
    • $23 SF/Yr
      1,196 SF

      Office Space for Rent

      Office space available for lease in Houston, TX.
      7575 San Felipe St, Houston, TX 77063
      View Details
    • $3,000 /Mo
      2,565 SF

      West Houston Townhouse For Rent

      End-unit 3-bedroom townhouse in Woodlake Forest, west Houston.
      9344 Briar Forest Dr, Houston, TX 77063
      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.
    2501 Westerland Dr, Unit 294
    Houston, TX 77063-2207
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.