Turnkey Medical Office with Treatment
For Sale
$499,000
101 STATE HWY 21 E, Caldwell, TX 77836
COMMERCIAL - Caldwell, TX
Property Size1,467 SF
Lot Size0.25 Acres
Price / SF$340.15
Days on Market540
Property Features for 101 STATE HWY 21 E
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Burleson
Elementary school district
Caldwell
Middle school district
Caldwell
High school district
Caldwell
Directions
Longitude -96.695795, Latitude 30.535251 - From College Station travel East on Hwy 21. Pass thru the red light of Hwy 21 and Hwy 36 and the property sits at the corner of N Main and Hwy 21 E on your right.
Standard status
Active
APN
101 STATE HWY 21 EAST 603
Size
1,467 SF
Lot size
0.25 Acres
Building Details
Year built
1990
Listing Agency:
Longitude Real Estate
(979) 431-5005
Listed By:
Sarah Ferguson · License #0768171
(979) 204-1152
Added: Feb 21, 2025
Changed: Aug 4
Last Checked: Aug 15 at 4:06AM
MLS# 25000665
Copyright © 2026 Bryan-College Station Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This turnkey medical office is offered for sale as an operating, fully equipped space. The building includes eight well-appointed treatment rooms, two bathrooms, a waiting room, and a private office with a third bathroom, along with a fully equipped break room that features a washer, dryer, and sink. All equipment and furnishings are included with the sale.
The property is located on State Hwy 21 E in Caldwell, Texas, with highway frontage near the community’s main intersection, supporting straightforward visibility and access for patients and visitors.
The current setup is chiropractic-focused, with a layout that may also support other healthcare or wellness-oriented uses, including day spa and medical, dental, or physical therapy/wellness practice configurations.
The property is located on State Hwy 21 E in Caldwell, Texas, with highway frontage near the community’s main intersection, supporting straightforward visibility and access for patients and visitors.
The current setup is chiropractic-focused, with a layout that may also support other healthcare or wellness-oriented uses, including day spa and medical, dental, or physical therapy/wellness practice configurations.
Key Highlights
- Prime highway frontage location with high visibility and easy access.
- Fully equipped, turn‑key business including equipment, furnishings, and client list.
- Established 33‑year history with a loyal clientele.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,293
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$385,860
$385.9K
Cap Rate 7%
$275,614
$275.6K
Cap Rate 9%
$214,367
$214.4K
Market Conditions
NOI Build-Up for 1,467 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.8K $21.00/SF
− Vacancy
−$5.1K −$3.47/SF
EGI
$25.7K $17.54/SF
− OpEx
−$6.4K −$4.38/SF
NOI
$19.3K $13.15/SF
Area
Burleson County, TX
Vacancy
16.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$385,860
Cap Rate 7%
$275,614
Cap Rate 9%
$214,367
Alternative Uses
Best Use
Office B
$275.6K
$241.2K – $321.6K
NOI $19,293 @ 7.0% cap · market cap 3.87%
Second Best
Healthcare Medical
$244.4K
$213.9K – $285.2K
NOI $17,111 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$361.2K
$316.1K – $421.4K
NOI $25,286 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77836, TX
11,721
Population
5,990
Households
2
Avg Household Size
45
Median Age
22%
College-Educated
86%
High-School Grad
431.1 sq mi
ZIP Area
27
Density / Sq Mi
$79,567
Median Household Income
$45,291
Median Earnings
$869
Median Rent
$199,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office for sale featuring eight treatment rooms, waiting and office areas, and a fully equipped break room.
Where is this medical office space located?
The property is located at 101 STATE HWY 21 E Caldwell, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Prime highway frontage location with high visibility and easy access.; Fully equipped, turn‑key business including equipment, furnishings, and client list.; Established 33‑year history with a loyal clientele.
