For Sale
$7,161,000

8929 Spring Cypress RdSpring, TX 77379

High-yield, NNN-leased medical office

Overview

Added:
Dec 11, 2024
Days on market:
117
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.

Property Details for 8929 Spring Cypress Rd

Property type
Office properties, Medical offices
Square Feet
6,625 SF
Year Built
2014
Lot Size (sq. ft)
71,438 SF

Location Insight

City
Spring
County
Harris
State
Texas
Latitude
30.0305511
Longitude
-95.5564367
8929 Spring Cypress Rd, Spring, Texas

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8929 Spring Cypress Rd
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