5116 Westheimer RdHouston, TX 77056

Property Details for 5116 Westheimer Rd

Year built

1950

Construction

WOOD FRAME

Lot size

0.46 AC

Property size (Sq ft)

8,441 SF

Property type

Retail space

APN

451400060442

APU

451400060442

Description

This exceptional redevelopment opportunity presents a significant investment in a high-traffic Houston location. Situated directly across from The Galleria Mall, one of Houston's premier shopping destinations attracting 25 million visitors annually, this property boasts unparalleled visibility and accessibility. The 0.46-acre lot encompasses a substantial 20,115 square feet, offering significant potential for a variety of mixed-use developments. The existing building comprises approximately 7,000 square feet on each of its two floors, providing a solid foundation for future plans. Its strategic location on Westheimer Road, a major Houston thoroughfare, ensures high foot and vehicle traffic. Furthermore, its proximity to key transportation arteries, including the 610 Loop, US Highway 59, I-10, and the Westpark Tollway, enhances its appeal and accessibility. The land value is assessed at $425 per square foot, reflecting the prime location and development potential. This property is offered at $8,000,000, presenting a compelling investment opportunity for discerning buyers seeking a high-return project in a thriving Houston market. The property's current zoning and permitted uses should be independently verified.

• CAP approach

  CAP return

  Valuation

  6%

  $2,541,234

  6.5%

  $2,345,755

  7%

  $2,178,201

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,144,099

  Geo Method

  $6,368,420

• Alternative Use

  Use

  Valuation

  Residential

  $1,978,732

  Hospitality

  $1,812,508

  Educational

  $1,507,985

  Medical

  $1,559,847

  Retail

  $2,345,755

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.7409

Longitude

-95.4654

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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