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Office Medical

Texas Spine Center

13323 Dotson Rd, Houston, TX 77070

Listing Price: $2,000,000

Cap Rate
7.30%
Gross SF
6,031
Rentable SF
6,031
Price/Gross SF
$331.62
Year Built
2007
Lot Size
1.04 acres

Investment Overview

Marcus & Millichap is pleased to present this two story, multi-tenant medical office building that is 100 percent occupied. The anchor tenant, Texas Spine Center (49.1 precent of GLA) has a brand new five-year NNN Lease commencing upon close of escrow. Houston Weight Loss Center occupies 26 percent of GLA and is currently paying $19.84 per square with a three-year gross lease structure. Superior Health Care (24.9 percent of GLA) has four-years left on a Gross Lease and is paying $15.00 per square foot annually. Superior Health Care and Houston Weight Loss have no fixed options to renew, thus allowing an investor to capitalize on the rental rate upon renewal.

The property resides in the Willowbrook Medical District and is walking distance from Houston Methodist Willowbrook Hospital. This opportunity allows an investor to acquire a steady stream of income, minimal management responsibilities and an impeccable location. This segment of Willowbrook has a high concentration of medical tenants bringing significant amounts of traffic, from residents and business in the area. There is steady increase of home projections for 2021 and the number of households in the Willowbrook submarket increased 137 percent since 2000. There are currently 5,809 households in the Willowbrook submarket, and the average household income is $102,779 in a three mile radius of the subject property.

Investors are attracted to the state of Texas due to favorable tax laws, business friendly regulations, and smart spending. Texas levies no individual income tax and no corporate tax. According to CNBC, Texas is the top state for business in America.

Investment Highlights

  • 100% Occupied I NNN & Modified Gross Lease Structures
  • Trophy Location Strategically Located next to a major Hospital System
  • New 5 Year Sale-Leaseback upon COE
  • Attractive base rental increases in primary terms
  • 10.21% Cash on Cash Return in Year 1
  • 12.5% Cash on Cash Return in Year 2

Exclusively Listed By

Financing By

Listing Price: $2,000,000

Cap Rate
7.30%
Gross SF
6,031
Rentable SF
6,031
Price/Gross SF
$331.62
Year Built
2007
Lot Size
1.04 acres

Investment Highlights

  • 100% Occupied I NNN & Modified Gross Lease Structures
  • Trophy Location Strategically Located next to a major Hospital System
  • New 5 Year Sale-Leaseback upon COE
  • Attractive base rental increases in primary terms
  • 10.21% Cash on Cash Return in Year 1
  • 12.5% Cash on Cash Return in Year 2

Investment Overview

Marcus & Millichap is pleased to present this two story, multi-tenant medical office building that is 100 percent occupied. The anchor tenant, Texas Spine Center (49.1 precent of GLA) has a brand new five-year NNN Lease commencing upon close of escrow. Houston Weight Loss Center occupies 26 percent of GLA and is currently paying $19.84 per square with a three-year gross lease structure. Superior Health Care (24.9 percent of GLA) has four-years left on a Gross Lease and is paying $15.00 per square foot annually. Superior Health Care and Houston Weight Loss have no fixed options to renew, thus allowing an investor to capitalize on the rental rate upon renewal.

The property resides in the Willowbrook Medical District and is walking distance from Houston Methodist Willowbrook Hospital. This opportunity allows an investor to acquire a steady stream of income, minimal management responsibilities and an impeccable location. This segment of Willowbrook has a high concentration of medical tenants bringing significant amounts of traffic, from residents and business in the area. There is steady increase of home projections for 2021 and the number of households in the Willowbrook submarket increased 137 percent since 2000. There are currently 5,809 households in the Willowbrook submarket, and the average household income is $102,779 in a three mile radius of the subject property.

Investors are attracted to the state of Texas due to favorable tax laws, business friendly regulations, and smart spending. Texas levies no individual income tax and no corporate tax. According to CNBC, Texas is the top state for business in America.

Exclusively Listed By

Financing By

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