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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    510 Westgreen Blvd, Unit 225 Katy, TX 77450-7592

    • Garden apartment buildings
    • 138,596 SF
    • 6.61 lot acres
    OFF-MARKET
    Value Estimations
    $1,370,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-9678437
    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

    • B- Eternal Fitness / Physical Fitness Program
    • Las key Baker Memorial Plaza / Park
    • AIM MOVERS OF KATY / Mover
    • Inprints photography / Photographer
    • Haven at Westgreen Apartments / Apartment Building / Apartment Rental Agency

    Property Details for 510 Westgreen Blvd

    Year built
    2014
    Construction
    FRAME
    Lot size
    6.61 lot acres
    Property size
    138,596 SF
    Property type
    Garden apartment buildings
    APN
    1314940020001
    APU
    1314940020001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,235,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,502,000
      Market price range: $1.50M - $5.76M

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

    Location Insight

    • Map
    • Local Demand
    City
    Katy
    County
    Harris
    State
    Texas
    Longitude
    -95.7382
    Latitude
    29.7818
    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
    $641,899
    $5,761,240
    $29,354,135
    $35,115,375
    -
    $5,761,240
    $29,354,135
    $35,115,375

    Comparable in this City

    • Value Estimation
      $1,135,000
      70,992 SF

      21077 Kingsland Blvd, Unit 300

      GARDEN APT, COURT APT (5+ UNITS) • 70,992 SF
      21077 Kingsland Blvd, Katy, TX 77450-3256
      View Details
    • Value Estimation
      $575,000
      14,216 SF

      1007 Mason Rd, Unit 316

      GARDEN APT, COURT APT (5+ UNITS) • 14,216 SF
      1007 Mason Rd, Katy, TX 77450-3844
      View Details
    • Value Estimation
      $840,000
      27,102 SF

      21550 Provincial Blvd, Unit 369

      GARDEN APT, COURT APT (5+ UNITS) • 27,102 SF
      21550 Provincial Blvd, Katy, TX 77450-6098
      View Details
    • Value Estimation
      $595,000
      18,292 SF

      333 Dominion Dr, Unit 266

      GARDEN APT, COURT APT (5+ UNITS) • 18,292 SF
      333 Dominion Dr, Katy, TX 77450-2047
      View Details
    • Value Estimation
      $590,000
      17,520 SF

      1111 Houghton Rd, Unit 275

      GARDEN APT, COURT APT (5+ UNITS) • 17,520 SF
      1111 Houghton Rd, Katy, TX 77450-3051
      View Details
    • Value Estimation
      $765,000
      17,992 SF

      2005 Mason Rd, Unit 308

      GARDEN APT, COURT APT (5+ UNITS) • 17,992 SF
      2005 Mason Rd, Katy, TX 77450-5642
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19.20 Acres

      Katy Industrial Land - 19.2 Acres

      Prime Katy land, ideal for multi-family or industrial development.
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      View Details
    • Contact for pricing
      6.51 Acres

      Katy Land: Four Prime Tracts

      Exceptional commercial/residential land opportunity.
      Katy TX Clay Rd @ Westgreen Blvd, Katy, TX 77450
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    • Contact for pricing
      5,733 SF

      Katy Office Building - 5,733 SF

      Prime Katy office space, ample parking, signage opportunity.
      518 Westgreen Blvd, Katy, TX 77450
      View Details
    • $1,936,000
      3,076 SF

      El Pollo Loco Katy, TX NNN Lease

      High-traffic Katy location, strong tenant, passive income.
      309 S. Mason Road, Katy (Houston MSA), TX 77450
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    • $550,000

      Commercial Land on Westheimer Parkway

      Land suitable for various commercial buildings in Katy, Texas.
      20710 Westheimer Pkwy, Katy, TX 77450
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    • Contact for pricing

      Katy Land Parcel For Sale

      19.2 acre land parcel suitable for BTR, Multi-Family, Industrial.
      Westgreen Blvd, Katy, TX 77450
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
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      Applewhite Dr Retail Center

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      2,473 SF

      Katy Medical Office for Lease

      Two-building medical office, 2,473 sq ft.
      21416 Provincial Blvd, Katy, TX 77450
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      Cinco Ranch Retail Space Available

      Katy, TX Shopping Center Opportunity
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      Katy Medical Office Building II

      Prime Katy Medical Office Space Available
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      Katy Medical Office Space Available

      Medical office building with convenient access and modern build-out.
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    • Contact for pricing
      2,400 SF

      Industrial Space Available For Rent

      Industrial property in Katy, TX, offering 2400 square feet.
      510-514 S Mason Rd, Katy, TX 77450
      View Details
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    Katy, TX 77450-7592
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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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