4600 Fairmont PkwyPasadena, TX 77504

Property Details for 4600 Fairmont Pkwy

Year built

2000

Construction

STEEL FRAME

Lot size

1.31 AC

Property size (Sq ft)

24,026 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

461650000094

APU

461650000094

Description

This exceptional 17,636 square foot medical office building, located at 4600 Fairmont Pkwy, Pasadena, TX 77504, presents a compelling investment opportunity. The property boasts a prime location in a high-traffic area of Houston, with over 23,500 cars passing daily. Built in 2000, this multi-tenant building sits on a 1.31-acre lot and currently enjoys an 89.8% occupancy rate. The established tenant roster includes prominent names such as Advanced Dental Associates, Proactive Physical Therapy Centers, HCA Healthcare (Women's Associates OBGYN), and Success on the Spectrum. The property operates under a triple net lease (NNN) structure, featuring rent bumps within the primary lease terms and options, providing a stable income stream. The current NOI stands at $299,115, with a pro-forma NOI of $331,013, yielding a 7.00% cap rate and a pro-forma cap rate of 7.75%. The asking price is $4,273,000, translating to an attractive price per square foot of $242. A significant upside potential exists with the leasing of the remaining 1,800 square feet of vacant space. The surrounding area demonstrates strong demographics, with over 15,600 people residing within a one-mile radius, boasting an average income of $79,000. This property offers a blend of stability and growth potential, making it an ideal addition to any investment portfolio. Detailed rent roll information is available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $4,920,564

  6.5%

  $4,542,060

  7%

  $4,217,627

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,551,266

  Geo Method

  $7,193,144

• Alternative Use

  Use

  Valuation

  Residential

  $5,632,154

  Hospitality

  $5,159,023

  Educational

  $4,292,246

  Medical

  $4,439,864

  Retail

  $6,676,828

Location Insight

City

Pasadena

County

Harris

State

Texas

Latitude

29.6493

Longitude

-95.1739

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].