5116 Westheimer RdHouston, TX 77056
- Retail properties
- 8,441 SF
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 properties
- Property subtype
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].