9920 Cypresswood DrHouston, TX 77070

Property Details for 9920 Cypresswood Dr

Year built

1994

Construction

STEEL FRAME

Lot size

1.19 AC

Property size (Sq ft)

12,243 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

1183510010001

APU

1183510010001

Description

This 12,172 sq ft Class B medical office building, built in 1994 and renovated in 2018, is located in Houston, Texas at 9920 Cypresswood Dr, 77070. The property sits on a 1.69-acre lot and offers 3.28 parking spaces per 1,000 sq ft. Currently vacant, it's zoned commercial and features a single-story building. The asking price is $4,600,000 ($377.92/sq ft). This turnkey ambulatory surgery center includes an active and transferable Texas Health & Human Services ASC license. Its convenient location off Highway 249, near Houston Methodist and St. Luke's Hospitals, ensures strong potential clientele. The property also includes additional land for expansion, allowing for the construction of more operating rooms to meet growing demand. A new roof, installed in 2021, comes with a 20-year transferable warranty. This presents a compelling investment opportunity in Houston's thriving healthcare market.

• CAP approach

  CAP return

  Valuation

  6%

  $2,693,282

  6.5%

  $2,486,107

  7%

  $2,308,528

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,922,121

  Geo Method

  $3,665,432

• Alternative Use

  Use

  Valuation

  Residential

  $3,082,772

  Hospitality

  $2,823,803

  Educational

  $2,349,371

  Medical

  $2,430,169

  Retail

  $3,654,577

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.9826

Longitude

-95.5645

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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