Medical Office Investment
For Sale
Contact for pricing
114 Sproles Drive, Benbrook, TX 76126
Fully leased medical office building in Benbrook, Texas for sale.
Property Size8,942 SF
Price / SF$316.26
Days on Market193
Property Features for 114 Sproles Drive
General Information
Standard status
Active
Size
8,942 SF
Class
B
Property subtype
Office
Zoning
F - Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$188,169
Building Details
Year Built
1987
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Bradford Fort Worth / Tarrant County
Listed By:
Shane Benner · License #639887
Source:
Crexi
Added: Jan 31
Changed: Aug 10
Last Checked: Aug 11 at 7:30PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bradford Fort Worth / Tarrant County
Investment Insights
Based on property information with market context.
The property at 114 Sproles Drive is a fully leased, multi-tenant medical office investment located in the Benbrook/Southwest Fort Worth submarket. The single-story building is anchored by Texas Health Resources Physician Group, providing healthcare tenancy and consistent patient traffic. Texas Health Resources recently renewed their lease and renovated their space, supporting income stability. The property features complementary service tenants and surface parking. The building has a low-maintenance profile and offers investors durable cash flow in a high-demand outpatient corridor. The property contains 8,942 square feet.
Key Highlights
- Fully leased multi‑tenant medical office building.
- Anchored by Texas Health Resources Physician Group.
- Recent renewal and renovation by Texas Health Resources.
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
$154,518
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
5.46%
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%
$3,090,360
$3.1M
Cap Rate 7%
$2,207,400
$2.2M
Cap Rate 9%
$1,716,867
$1.7M
Market Conditions
NOI Build-Up for 8,942 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
$274.7K $30.72/SF
− Vacancy
−$68.7K −$7.68/SF
EGI
$206.0K $23.04/SF
− OpEx
−$51.5K −$5.76/SF
NOI
$154.5K $17.28/SF
Area
Tarrant County, TX
Vacancy
25.00%
Lease Rate
$30.72 /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%
$3,090,360
Cap Rate 7%
$2,207,400
Cap Rate 9%
$1,716,867
Alternative Uses
Best Use
Office B
$2.21M
$1.93M – $2.58M
NOI $154,518 @ 7.0% cap · market cap 5.46%
Second Best
Healthcare Medical
$2.19M
$1.92M – $2.55M
NOI $153,230 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$3.15M
$2.75M – $3.67M
NOI $220,188 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76126, TX
25,444
Population
10,598
Households
2.4
Avg Household Size
41
Median Age
48%
College-Educated
94%
High-School Grad
68.7 sq mi
ZIP Area
370
Density / Sq Mi
$107,668
Median Household Income
$58,393
Median Earnings
$1,677
Median Rent
$357,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased medical office building in Benbrook, Texas for sale.
Where is this medical office space located?
The property is located at 114 Sproles Drive Benbrook, TX.
What is the asking price?
The asking price for this property is $2,828,000.
What are key features of this property?
This property features: Fully leased multi‑tenant medical office building.; Anchored by Texas Health Resources Physician Group.; Recent renewal and renovation by Texas Health Resources.
