For Sale
$3,730,000

7065 East Fwy Houston, TX 77020

Houston medical office, strong tenant, NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
137
Exceptional investment opportunity: a 8,880 square foot medical office building located at 7065 East Fwy, Houston, Texas 77020. This single-tenant property boasts a 100% occupancy rate with DaVita Dialysis (NYSE: DVA) under a triple-net (NNN) lease expiring January 30, 2030. The lease includes two five-year renewal options, each with a 10% rent increase. The building, constructed in 2002 and renovated in 2015, sits on a 1.23-acre lot and offers 49 parking spaces. The property features a strong net operating income (NOI) of $242,318, resulting in a 6.50% cap rate. The asking price is $3,730,000. This investment benefits from a corporate lease guarantee and is situated in a high-traffic area surrounded by national retailers, pharmacies, and a dense residential population exceeding 81,000 residents within a 3-mile radius. The Harris County location in Texas offers the advantage of being in an income tax-free state. APN: 121-622-001-0001.

Highlights

  • NNN lease with investment-grade tenant DaVita Dialysis (NYSE: DVA).
  • Lease expires January 31, 2030.
  • Corporate lease guarantee provided by DaVita.
  • Located in Texas, a state with no income tax.
  • Two, five-year lease options with 10% rent increases each.
  • Excellent location near national retailers, pharmacies, and a high-density residential area.

Property Details for 7065 East Fwy

Property type
Office properties, Medical offices
Square Feet
8,880 SF
Year Built/Renovated
2002/2015
Lot Size (sq. ft)
53,579 SF

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.7757607
Longitude
-95.2991834

FAQs

What type of property is this?
Office property - Houston medical office, strong tenant, NNN lease.
Where is the office property located?
The property is located at 7065 East Fwy Houston, TX.
What is the asking price?
The asking price for this property is $3,730,000.
What are key features of this property?
This property features: NNN lease with investment-grade tenant DaVita Dialysis (NYSE: DVA).; Lease expires January 31, 2030.; Corporate lease guarantee provided by DaVita.
How can I contact the broker?
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7065 East Fwy
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