3702 Center StDeer Park, TX 77536

Property Details for 3702 Center St

Year built

1979

Construction

METAL FRAME

Lot size

0.53 AC

Property size (Sq ft)

4,992 SF

Property type

Medical offices

Property subtype

Medical centers

APN

462250000003

APU

462250000003

Description

This 4,800 square foot retail building in Deer Park, Texas, presents a compelling investment opportunity. Currently 100% occupied by Jefferson Dental under a triple-net (NN) lease with a remaining term of approximately 3.7 years, expiring July 31, 2028, and including a 7.56% rent increase at lease renewal. The property boasts a strong 6.65% cap rate and a NOI of $86,400. Built in 1979 and renovated in 2018, this single-story, Class B building sits on a 0.53-acre lot and offers ample parking (32 spaces per 1,000 sq ft). The tenant, a well-established dental practice with over 70 locations in Texas and Oklahoma, has occupied the space since August 1, 2018. The property's prime location on Center Street, a major north-south thoroughfare in Deer Park, benefits from high daily traffic counts and close proximity to Beltway 8 and Highway 225. The asking price is $1,300,000, translating to $270.83 per square foot and $56 per square foot of land value. Zoned for commercial use, this property offers excellent visibility and strong potential for long-term returns. The lease includes three options.

• CAP approach

  CAP return

  Valuation

  6%

  $1,022,370

  6.5%

  $943,726

  7%

  $876,317

• Comparable approach

  Method

  Valuation

  Relative Method

  $737,864

  Geo Method

  $1,494,555

• Alternative Use

  Use

  Valuation

  Residential

  $1,170,220

  Hospitality

  $1,071,916

  Educational

  $891,821

  Medical

  $922,492

  Retail

  $1,387,277

Location Insight

City

Deer Park

County

Harris

State

Texas

Latitude

29.6778

Longitude

-95.1237

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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