1913 Steele RdAlvin, TX 77511

  • Healthcare properties
  • 4,590 SF
For Sale
$1,568,333 View listing

Property Details for 1913 Steele Rd

Year built
2010
Lot size
2.00 AC
Property size (Sq ft)
4,590 SF
Property type
Healthcare properties
Property subtype
Medical offices
APN
0421-0024-000
APU
4210024000

Description

This exceptional investment opportunity presents a 5,875 square foot medical office building in Alvin, Texas, currently 100% occupied by EyeSouth Partners, a rapidly expanding, private equity-backed healthcare provider with over 220 clinics nationwide. The property boasts a strong, long-term net lease (NNN) with 7.4 years remaining until expiration, featuring built-in 2% annual rent increases, providing a hedge against inflation. The current net operating income (NOI) is $117,625, yielding a compelling 7.5% cap rate on the asking price of $1,568,333 ($267 per square foot). The lease commenced July 10, 2020, and expires June 30, 2032, with options for 4 or 5-year lease extensions. Located at 1913 Steele Rd, Alvin, TX 77511, this asset benefits from its position within a high-income area ($122,000 average household income within a five-mile radius) and the advantages of being in a tax-free state. The building was constructed in 2010 and is situated within the Houston MSA, a robust economy with a 2023 GDP estimated at $700 billion. The recession-resistant nature of the healthcare industry, coupled with the tenant's impressive growth trajectory and private equity backing, makes this a highly attractive investment opportunity. The property offers a passive investment structure with minimal landlord responsibilities, making it ideal for both local and out-of-state investors seeking stable, long-term returns.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $940,040
    6.5%
    $867,729
    7%
    $805,748
  • Comparable approach

    Method
    Valuation
    Relative Method
    $678,445
    Geo Method
    $1,374,200
  • Alternative Use

    Use
    Valuation
    Residential
    $1,075,984
    Hospitality
    $985,595
    Educational
    $820,004
    Medical
    $848,205
    Retail
    $1,275,562
1913 Steele Rd, Alvin, Texas

Location Insight

City
Alvin
County
Brazoria
State
Texas
Latitude
29.4353
Longitude
-95.2269
CBSA code
26420
CBSA name
HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2018
$21,427
$117,000
$1,547,820
$1,664,820
-
$117,000
$1,547,820
$1,664,820

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].