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    Property profile & analytics

    3815 Grand Pkwy Katy, TX 77494

    • Strip malls
    • 36,392 SF
    • 3.00 lot acres
    For Lease
    View listing
    $9,500,000
    Value Estimations
    $865,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-9304582
    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

    • Cloud Ponics Katy / Smoke Shop
    • Sunny plumbingrepair / Contractor
    • Lunar Salon Suites / Beauty Salon
    • Dr. Hong Wang / Dentist
    • Ventana Family Dental / Dentist / Emergency Care Service

    Property Details for 3815 Grand Pkwy

    Year built
    2020
    Construction
    STEEL FRAME
    Lot size
    3.00 lot acres
    Property size
    36,392 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    1380080010008
    APU
    1380080010008

    Description

    This exceptional commercial property, Shops at 99 Clay, located at 3815 W Grand Pkwy N in Katy, Texas (zip code 77449), offers a unique blend of retail and office space. Situated on a 1.15-acre lot in Harris County, this two-story building boasts a total of 30,000 square feet. Currently, there are 13,656 square feet of vacant space available, divisible into units ranging from a minimum of 1,600 square feet to a maximum contiguous space of 5,100 square feet. The property is categorized as both Traditional and Executive Office space, as well as a Strip Center, making it suitable for a variety of businesses. Multiple tenancies are available, providing flexibility for different business needs and sizes. The property's convenient location in Katy, Texas offers excellent access to major transportation routes and a thriving local market. This presents a compelling opportunity for businesses seeking high-visibility space in a dynamic and growing community. Interested parties are encouraged to inquire for further details and to explore the possibilities this versatile property offers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $625,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,103,000
      Market price range: $794k - $1.41M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,065,000
      Current use
      INDUSTRIAL (GENERAL)
      $1,145,000
      Change: +8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Katy
    County
    Harris
    State
    Texas
    Longitude
    -95.7635
    Latitude
    29.8296
    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
    $117,688
    $2,612,900
    $4,161,723
    $6,774,623
    -
    $2,612,900
    $4,161,723
    $6,774,623

    Comparable in this City

    • Value Estimation by Request
      10,720 SF

      1603 Westgreen Blvd

      SHOPPING CENTER, STRIP CENTER • 10,720 SF
      1603 Westgreen Blvd, Katy, TX 77449-7111
      View Details
    • Value Estimation
      $725,000
      24,016 SF

      2710 Mason Rd

      SHOPPING CENTER, STRIP CENTER • 24,016 SF
      2710 Mason Rd, Katy, TX 77449-4176
      View Details
    • Value Estimation by Request
      14,175 SF

      3010 Fry Rd

      SHOPPING CENTER, STRIP CENTER • 14,175 SF
      3010 Fry Rd, Katy, TX 77449-6240
      View Details
    • Value Estimation
      $1,435,000
      65,733 SF

      2311 Fry Rd

      SHOPPING CENTER, STRIP CENTER • 65,733 SF
      2311 Fry Rd, Katy, TX 77449-6219
      View Details
    • Value Estimation
      $785,000
      46,039 SF

      19214 Clay Rd

      SHOPPING CENTER, STRIP CENTER • 46,039 SF
      19214 Clay Rd, Katy, TX 77449-4081
      View Details
    • Value Estimation
      $810,000
      23,561 SF

      1230 Mason Rd

      SHOPPING CENTER, STRIP CENTER • 23,561 SF
      1230 Mason Rd, Katy, TX 77449-3000
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,684 SF

      Retail Property on Fry Road

      Retail property with high visibility and strong traffic counts.
      2125 North Fry Rd, Katy, TX 77449
      View Details
    • $1,830,748
      2.33 Acres

      Grand Pkwy Pad Site - Katy, TX

      ±2.33 Acres, 4 Pads, High-Traffic Location
      & Peek Grand Pkwy, Katy, TX 77449
      View Details
    • Contact for pricing
      2.07 Acres

      Katy Land: Prime Retail Site

      2 Acres, Katy, TX - Owner Financing
      0 Clay Rd Rd, Park Row, TX 77449
      View Details
    • $3,600,000

      Truck Parking Facility For Sale

      3.076-acre truck parking facility with income potential.
      20820 Park Row Dr, Katy, TX 77449
      View Details
    • $950,000

      Land in West Houston Area

      Land available in a well-developed, densely populated area.
      6501 Greenhouse Rd, Katy, TX 77449
      View Details
    • $359,990

      Move-In Ready Condo in Katy

      Condominium in gated community near University Center and Katy Asian Town.
      1207 Grand Blvd West, Katy, TX 77449
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space Near Major Retailers

      Retail space available in high-traffic area near major retailers.
      23021-23027 Morton Ranch Rd, Katy, TX 77449
      View Details
    • $24 SF/Yr
      13,850 SF

      West 529 Retail Center Opportunity

      Prime Retail Space, Cypress, TX. Three Suites Available
      21211 Fm 529, Katy, TX 77449
      View Details
    • Contact for pricing
      6,485 SF

      Retail and Restaurant Spaces Available

      Retail, restaurant, and nail salon spaces for lease.
      Katy Fwy, Katy, TX 77449
      View Details
    • Contact for pricing
      100,000 SF

      Prime Retail Space in Katy

      Dominant intersection location with high visibility and significant growth potential.
      Fm 529, Katy, TX 77449
      View Details
    • Contact for pricing
      3,700 SF

      Morton Park Plaza Retail Space

      Katy, TX Retail Opportunity: Two Suites Available
      2301 Morton Ranch Rd, Katy, TX 77449
      View Details
    • Contact for pricing
      255,882 SF

      Joe V's Smart Shop Retail Center

      Prime Retail Building & Pad Sites Available
      4107 Fry Rd, Katy, TX 77449
      View Details
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    Katy, TX 77494
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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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