Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    501 Westlake Park Blvd Houston, TX 77079-2604
    Property profile & analytics

    501 Westlake Park Blvd Houston, TX 77079-2604

    View on Map
    • Office buildings
    • 639,158 SF
    • 10.03 lot acres
    Off-Market
    Property ID
    US82-0333745
    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.
    Value Estimations
    $5,715,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • CBRE / High School
    • BPX ENERGY INC / Factory / Production Facility
    • Hines / Property Management Company
    • Rush My Passport / Travel Agency
    • bp/Amoco - North America, Inc. / Gas Station

    Property Details for 501 Westlake Park Blvd

    Year built
    1982
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    10.03 lot acres
    Property size
    639,158 SF
    Property type
    Office buildings
    APN
    410360010501
    APU
    410360010501

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $6,240,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.6287
    Latitude
    29.7811
    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
    $4,067,898
    $24,576,019
    $143,901,590
    $168,477,609
    -
    $24,576,019
    $143,901,590
    $168,477,609

    Comparable in this City

    • Value Estimation
      $1,320,000
      181,292 SF

      12140 Wickchester Ln

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 181,292 SF
      12140 Wickchester Ln, Houston, TX 77079-1211
      View Details
    • Value Estimation
      $4,105,000
      352,320 SF

      201 Helios Way

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 352,320 SF
      201 Helios Way, Houston, TX 77079-2678
      View Details
    • Value Estimation
      $3,055,000
      446,796 SF

      11720 Katy Fwy

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 446,796 SF
      11720 Katy Fwy, Houston, TX 77079-1242
      View Details
    • Value Estimation
      $580,000
      123,648 SF

      11451 Katy Fwy, Unit 425

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 123,648 SF
      11451 Katy Fwy, Houston, TX 77079-2004
      View Details
    • Value Estimation
      $500,000
      55,504 SF

      955 Dairy Ashford Rd

      OFFICE BUILDING • 55,504 SF
      955 Dairy Ashford Rd, Houston, TX 77079-5310
      View Details
    • Value Estimation
      $1,920,000
      323,366 SF

      575 Dairy Ashford Rd, Unit 1750

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 323,366 SF
      575 Dairy Ashford Rd, Houston, TX 77079-1117
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Energy Corridor Four-Unit Townhomes

      Four-unit townhome property in the Energy Corridor, fully leased.
      720 Memorial Mews St, Houston, TX 77079
      View Details
    • Contact for pricing

      Land For Sale Houston

      Land available for sale in Houston, Texas.
      Blackhaw St, Houston, TX 77079
      View Details
    • $250,000
      1,920 SF

      Remodeled Townhouse in Energy Corridor

      Remodeled townhouse with modern amenities, convenient location, and ample storage.
      14715 Perthshire Rd, Houston, TX 77079
      View Details
    • $1,550,000
      1 SF

      Prime Land on Highway 6

      Commercial land with excellent access and visibility on Highway 6.
      14615 Grisby Rd, Houston, TX 77079
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Energy Corridor Office Space Available

      Office spaces for rent in Houston's Energy Corridor.
      11777 Katy Fwy, Houston, TX 77079
      View Details
    • Contact for pricing
      15,660 SF

      West Houston Energy Corridor Office

      Office space in West Houston Energy Corridor with modern amenities.
      12140 Wickchester Ln, Houston, TX 77079
      View Details
    • Contact for pricing

      Class A Office Building

      7-story Class A office building in the Energy Corridor.
      12120 Wickchester Ln, Houston, TX 77079
      View Details
    • Contact for pricing
      332,000 SF

      Office Space with Fitness Center

      Office building with fitness center, cafe, and conference center.
      585 N Dairy Ashford Rd, Houston, TX 77079
      View Details
    • $29 SF/Yr
      18,052 SF

      Energy Corridor Class A Offices

      Class A office space in Houston's Energy Corridor.
      12121 Wickchester Ln, Houston, TX 77079
      View Details
    • Contact for pricing

      Multi-Tenant Office Facility For Rent

      Multi-tenant office facility with stabilized occupancy and amazing access.
      14526 Old Katy Rd, Houston, TX 77079
      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.
    501 Westlake Park Blvd
    Houston, TX 77079-2604
    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

    Thank You for Inquiry
    501 Westlake Park Blvd, Houston, TX, 77079
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!