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    Property profile & analytics

    5718 Westheimer Rd Houston, TX 77057

    • Office buildings
    • 511,302 SF
    • 3.54 lot acres
    For Lease
    View listing
    Last Sale
    Oct 15, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3707810
    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

    • Pretty Rich Consulting Services, LLC / Consultant / Credit Counseling Service
    • Frey Law Firm, PLLC / Tax Attorney
    • Record Diamond Company / Watch Repair Service / Jewelry Designer
    • Khou building / Association / Organization
    • Strikers Rugby / Association / Organization

    Property Details for 5718 Westheimer Rd

    Year built
    1981
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.54 lot acres
    Property size
    511,302 SF
    Property type
    Office buildings
    APN
    681070000110
    APU
    681070000110

    Description

    This Class A office space in Houston's Galleria area at 5718 Westheimer Rd, zip code 77057, offers a variety of flexible options for businesses of all sizes. Located in Harris County, Texas, this property totals 2,500 square feet and is currently fully vacant, allowing for immediate occupancy. The space is divisible into units as small as 75 square feet, up to a maximum contiguous space of 2,500 square feet, catering to diverse needs. The building offers multiple tenancy options, including traditional office, executive office, coworking, and creative office spaces. Amenities include fully furnished options with onsite receptionist services, printing capabilities, refreshments, parking, utilities, and janitorial services. Access to conference rooms and shared amenities is also provided. Furthermore, tenants benefit from local business phone lines with unlimited domestic long-distance calling and access to a 24/7 fitness center. This location is part of a larger network with similar facilities across DFW, Houston, Atlanta, and Phoenix. All information should be verified with on-site staff.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $14,194,000
      Market price range: $3.34M - $26.3M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $15,680,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $17,665,000
      Change: +13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4789
    Latitude
    29.7389
    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
    $1,246,538
    $9,256,320
    $47,115,788
    $56,372,108
    -
    $9,256,320
    $47,115,788
    $56,372,108

    Comparable in this City

    • Value Estimation
      $1,135,000
      97,416 SF

      6220 Westpark Dr

      OFFICE BUILDING • 97,416 SF
      6220 Westpark Dr, Houston, TX 77057-7371
      View Details
    • Value Estimation
      $700,000
      34,851 SF

      5701 Woodway Dr

      OFFICE BUILDING • 34,851 SF
      5701 Woodway Dr, Houston, TX 77057-1515
      View Details
    • Value Estimation
      $3,000,000
      218,013 SF

      6363 Woodway Dr

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 218,013 SF
      6363 Woodway Dr, Houston, TX 77057-1735
      View Details
    • Value Estimation
      $630,000
      14,480 SF

      6213 Skyline Dr

      OFFICE BUILDING • 14,480 SF
      6213 Skyline Dr, Houston, TX 77057-7036
      View Details
    • Value Estimation
      $1,315,000
      172,386 SF

      5851 San Felipe St

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 172,386 SF
      5851 San Felipe St, Houston, TX 77057-3076
      View Details
    • Value Estimation
      $690,000
      40,497 SF

      6150 Richmond Ave

      OFFICE BUILDING • 40,497 SF
      6150 Richmond Ave, Houston, TX 77057-6229
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,761 SF

      Galleria Redevelopment Opportunity

      Value-add office space with easy highway access.
      6029 Skyline Dr, Houston, TX 77057
      View Details
    • Contact for pricing
      2.30 Acres

      Galleria Area Development Land

      2.3 Acres, Prime Houston Location
      6111 Richmond Ave, Houston, TX 77057
      View Details
    • Contact for pricing
      2.74 Acres

      Richmond Ave. Retail Opportunity

      Galleria Area, High-Traffic Retail Space
      5800 Richmond Ave, Houston, TX 77057
      View Details
    • $220,000
      1,177 SF

      Tanglewood Adjacent Condo with Garage

      Spacious 2 bed, 2 bath condo with attached 2-car garage.
      1201 Bering Dr, Houston, TX 77057
      View Details
    • $195,000

      Ground Floor Condo with Garage

      Move-in ready condo with attached garage and community pool.
      757 Bering Dr, Houston, TX 77057
      View Details
    • $224,999

      Updated Condo with Modern Comfort

      Updated 2-bedroom, 1.5-bath condo with modern finishes and amenities.
      5801 Doliver Dr, Houston, TX 77057
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      49,009 SF

      Houston Office Building For Lease

      Eight-story office building in Houston's San Felipe/Voss submarket.
      675 Bering Dr, Houston, TX 77057
      View Details
    • $16 SF/Yr
      30,140 SF

      Boutique Office Building Near Galleria

      Boutique office building in San Felipe/Voss area near Uptown.
      2425 Fountain View Dr, Houston, TX 77057
      View Details
    • $2,025 /Mo
      154,290 SF

      Furnished Office Space Available

      Fully-furnished office space with amenities in Houston, TX.
      5718 Westheimer Rd, Houston, TX 77057
      View Details
    • $18 SF/Yr
      8,253 SF

      Office Space for Rent

      Office space available for lease in Houston, TX.
      510 Bering Dr, Houston, TX 77057
      View Details
    • Contact for pricing
      2,333 SF

      Functional Office Suites For Rent

      Office suites with functional layouts and excellent natural light.
      6116 Skyline Dr, Houston, TX 77057
      View Details
    • $22 SF/Yr
      2,435 SF

      Office Building Near Galleria/Uptown

      Six-story office building with modern amenities and convenient location.
      1220 Augusta Dr, Houston, TX 77057
      View Details
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    5718 Westheimer Rd
    Houston, TX 77057
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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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