Your Trusted Houston Commercial Real Estate Brokerage
Viking Enterprise LLC is part of eXp Commercial, an agent-led, cloud-based commercial real estate brokerage with agents across the globe.
Your Trusted Katy / Fulshear & Houston Commercial Real Estate Brokerage
Viking Enterprise LLC is part of eXp Commercial, an agent-led, cloud-based commercial real estate brokerage with agents across the globe.
eXp Commercial - Viking Enterprise Team's real estate network provides unparalleled commercial real estate services to Tenants and Landlords around the Katy- Houston area. Our knowledge, experience, and reputation sets us apart from many firms.
A commercial property owner might have various plans that would necessitate the services of a commercial real estate broker. Some of the common scenarios include:
1. Selling the Property: If the owner decides it’s time to sell the property, a commercial real estate broker can help determine the market value, market the property effectively, and negotiate with potential buyers to get the best possible price.
2. Leasing Space: For property owners looking to lease out part or all of their commercial space, a broker can help find suitable tenants, negotiate lease terms, and ensure the lease agreements meet all legal requirements and serve the owner’s best interests.
3. Acquiring More Properties: Owners looking to expand their portfolio would benefit from a broker's knowledge of the market, access to listings, and negotiation skills to secure additional properties at favorable terms.
4. Property Management: While not all brokers offer this service, some commercial real estate brokers or their affiliates offer property management services. This can be particularly appealing for owners who prefer a hands-off approach or are managing properties from a distance.
5. Market Analysis: Owners considering future developments, renovations, or rebranding of their property might engage a broker for a comprehensive market analysis. This helps in understanding current market trends, the demand for different types of spaces, and potential returns on investment for various strategies.
6. Refinancing: In situations where a property owner is looking to refinance their property, a commercial real estate broker can provide valuable insights into the property’s current market value, assist in gathering necessary documentation, and even help in finding the best financing options.
7. Partnership or Investment Opportunities: Owners interested in exploring partnerships, joint ventures, or seeking investors for expansion or development projects might use a broker to find and vet potential partners or investors.
8. Consulting on Zoning and Use Changes: When contemplating a change in the use of the property or dealing with zoning issues, a broker with experience in local regulations and the specific property type can provide guidance and strategic planning assistance.
9. Exit Strategy Planning: For owners looking to plan an exit strategy from their investment, whether it’s through a strategic sale or a gradual winding down of operations, brokers can provide market insights, timing advice, and valuation services to optimize the exit process.
In any of these scenarios, the expertise and services provided by a commercial real estate broker can save the property owner time and money, while also providing access to a wider network of potential buyers, tenants, and industry professionals. Give us a call today!
eXp Commercial - Viking Enterprise team real estate network provides unparalleled commercial real estate services to Tenants and Landlords around the greater Katy & Houston MSA area. Our knowledge, experience, and reputation sets us apart from many firms.
A commercial property owner might have various plans that would necessitate the services of a commercial real estate broker. Some of the common scenarios include:
1. Selling the Property: If the owner decides it’s time to sell the property, a commercial real estate broker can help determine the market value, market the property effectively, and negotiate with potential buyers to get the best possible price.
2. Leasing Space: For property owners looking to lease out part or all of their commercial space, a broker can help find suitable tenants, negotiate lease terms, and ensure the lease agreements meet all legal requirements and serve the owner’s best interests.
3. Acquiring More Properties: Owners looking to expand their portfolio would benefit from a broker's knowledge of the market, access to listings, and negotiation skills to secure additional properties at favorable terms.
4. Property Management: While not all brokers offer this service, some commercial real estate brokers or their affiliates offer property management services. This can be particularly appealing for owners who prefer a hands-off approach or are managing properties from a distance.
5. Market Analysis: Owners considering future developments, renovations, or rebranding of their property might engage a broker for a comprehensive market analysis. This helps in understanding current market trends, the demand for different types of spaces, and potential returns on investment for various strategies.
6. Refinancing: In situations where a property owner is looking to refinance their property, a commercial real estate broker can provide valuable insights into the property’s current market value, assist in gathering necessary documentation, and even help in finding the best financing options.
7. Partnership or Investment Opportunities: Owners interested in exploring partnerships, joint ventures, or seeking investors for expansion or development projects might use a broker to find and vet potential partners or investors.
8. Consulting on Zoning and Use Changes: When contemplating a change in the use of the property or dealing with zoning issues, a broker with experience in local regulations and the specific property type can provide guidance and strategic planning assistance.
9. Exit Strategy Planning: For owners looking to plan an exit strategy from their investment, whether it’s through a strategic sale or a gradual winding down of operations, brokers can provide market insights, timing advice, and valuation services to optimize the exit process.
In any of these scenarios, the expertise and services provided by a commercial real estate broker can save the property owner time and money, while also providing access to a wider network of potential buyers, tenants, and industry professionals. Give us a call today!
Let us help your business succeed.
🏢 Houston CRE: Tax Hike Avoided, But Is It Over? 💸
📉 Property Tax Relief for Houston CRE Owners 🏗️
Hey, Houston CRE owners, we dodged a bullet! 🚨 It looks like we avoided a hefty property tax increase after the state announced it would deliver $50 million in disaster relief funds to help recover from May’s derecho and July’s Hurricane Beryl 🌪️. For a moment there, commercial property owners were staring down a potential tax rate increase of at least 3.2 cents per $100 of assessed value! On a $10 million property, that could have meant a whopping $3,200 more in taxes per year. 😳
But here’s the kicker: just because we avoided a tax hike this time doesn’t mean we’re in the clear. Some experts are saying that the $50 million relief isn’t enough to cover Houston’s financial struggles, and with a negative outlook from two major credit rating agencies, there could still be challenges ahead. 🧐💼
Let’s break it down. Houston City Council members considered raising property taxes by 5% to help fix the budget gap. But thanks to the disaster relief fund, that proposal got pulled… for now. Some of us in CRE are breathing a small sigh of relief 😅, but experts are urging caution.
Texas property owners don’t just pay taxes to the city—they pay to multiple entities, and the state legislature has been trying to keep local jurisdictions from overspending. Since 2019, any tax raise over 3.5% requires voter approval… unless there’s a disaster declaration. That’s where things get tricky. 🤔
In fact, Harris County just took advantage of this disaster declaration loophole, raising the tax rate by the full 8% without voter input. Yikes! 😬 That translates to a 7-cent increase per $100 of assessed value, which adds $7,000 to the tax bill for a $10 million property. 🏗️💰
Here’s another thing to keep an eye on—appraisal values. While some Houston office and multifamily properties saw their values drop this year (thanks to appraisers utilizing cap rates), retail and industrial properties weren’t so lucky 📈. Many saw increases, and since triple-net lease agreements often pass those costs to tenants, they’re the ones footing the bill.
And it doesn’t stop there. Texas schools, one of the biggest tax burdens on property owners, saw some relief when the state cut school property tax rates. For a $10 million property, that’s a savings of around $10,700 a year. But watch out—school districts are always looking for more funds and might come knocking with bond proposals. 💡
So, what’s the bottom line? Even with the $50 million relief fund, Houston’s still got a $200 million budget hole to fill, according to City Comptroller Chris Hollins. Mayor John Whitmire says he’s against raising property taxes and is bringing in outside help to find budget cuts. But with financial pressures mounting, commercial property owners need to stay on top of their tax bills and maybe even think about hiring a tax consultant. 🧑💼
We’ve avoided one crisis, but make sure to stay vigilant as we head into 2025. The legislative and valuation dangers are still lurking around the corner! 🔍
I’m an experienced Commercial Real Estate Broker, please feel free to reach me at 281-222-0433.
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