This exceptional investment opportunity presents a 6,625-square-foot medical office building in Spring, Texas, boasting a 7.25% cap rate and a substantial 16.2 years remaining on a triple-net lease with a credit tenant, Total Point ER. The property, located at 8929 Spring Cypress Rd, 77379, features 23 parking spaces and sits on a 1.64-acre lot. Built in 2014, this fee-simple owned building benefits from a 100% occupancy rate and a strong net operating income (NOI) of $519,153. The lease, commencing December 1, 2021, and expiring February 1, 2041, includes four 5-year renewal options and features 2% annual rent bumps, ensuring consistent income growth. The property is zoned for commercial use and enjoys excellent visibility and access along Spring Cypress Road (36,400 vehicles per day), situated within a dense retail corridor and close to numerous residential communities. The surrounding area boasts a population of 268,000 residents and 85,000 employees within a 5-mile radius, with an average household income of $124,829. This offering presents a rare chance to acquire a stable, high-performing asset in a thriving market with minimal landlord responsibilities. The asking price is $7,161,000, translating to $1,080.91 per square foot. The property's strong tenant, favorable lease terms, and prime location make it an ideal addition to any investment portfolio.
Highlights
$7,161,000 asking price for this 6,625 SF medical office building.
Absolute NNN lease with 16.2 years remaining, featuring 2% annual rent increases and four 5-year renewal options.
100% occupancy with a strong 7.25% cap rate and $519,153 annual NOI.
Fee simple ownership of land and building, minimizing landlord responsibilities.
Located in a high-traffic area of Spring, TX, with excellent visibility and access.
Strong demographics, including a high average household income within a 5-mile radius.
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Contacts
Britt Raymond
Kyle Fant
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8929 Spring Cypress Rd, Spring, Texas, 77379
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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8929 Spring Cypress Rd
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