8929 Spring Cypress RdSpring, TX 77379

Property Details for 8929 Spring Cypress Rd

Year built

2014

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.64 AC

Property size (Sq ft)

7,416 SF

Property type

Medical offices

Property subtype

Medical centers

APN

1238270010005

APU

1238270010005

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,038,641

  6.5%

  $1,881,822

  7%

  $1,747,406

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,400,732

  Geo Method

  $2,220,276

• Alternative Use

  Use

  Valuation

  Residential

  $2,333,460

  Hospitality

  $2,137,437

  Educational

  $1,778,322

  Medical

  $1,839,481

  Retail

  $2,766,279

Location Insight

City

Spring

County

Harris

State

Texas

Latitude

30.0305

Longitude

-95.5564

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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