Longview Medical Office For
For Sale
Contact for pricing
2010 Bill Owens Pkwy, Longview, TX
Single tenant medical office building in Longview, Texas.
Property Size7,137 SF
Lot Size1.33 Acres
Price / SF$271.39
Days on Market577
Property Features for 2010 Bill Owens Pkwy
General Information
Standard status
Active
Size
7,137 SF
Lot size
1.33 Acres
Property subtype
RETAIL
Listing Agency:
Trinity Real Estate Investment Services - Corporate
(817) 304-8916
Listed By:
Matt Davis · License #657251
(325) 513-6406
Source:
Moodyscre
Added: Feb 7, 2025
Changed: Aug 13
Last Checked: Sep 6 at 11:21AM
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 Trinity Real Estate Investment Services - Corporate
Investment Insights
Based on property information with market context.
This medical office building is located in Longview, Texas. The property is a single-tenant building occupied by Christus Health System. The tenant recently exercised a 5-year extension. Christus Health has an "A" rating from Moody's. The property benefits from attractive 2% annual rental increases. After acquiring Good Shepherd Hospital in 2017, Christus became a dominant health care provider for Longview and East Texas, operating 8 hospitals and over 80 clinics. The building is of high-quality brick and stone construction. Over 80,000 residents live within 5 miles of the property. The property contains 7,137 square feet.
Key Highlights
- Strong Credit Single Tenant (Christus Health) MOB
- Christus Health has an "A" Rating From Moody's
- Tenant Recently Exercised 5‑Year Extension
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
$80,101
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
4.14%
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%
$1,602,020
$1.6M
Cap Rate 7%
$1,144,300
$1.1M
Cap Rate 9%
$890,011
$890.0K
Market Conditions
NOI Build-Up for 7,137 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
$154.2K $21.60/SF
− Vacancy
−$20.7K −$2.89/SF
EGI
$133.5K $18.71/SF
− OpEx
−$53.4K −$7.48/SF
NOI
$80.1K $11.22/SF
Area
Gregg County, TX
Vacancy
13.40%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$1,602,020
Cap Rate 7%
$1,144,300
Cap Rate 9%
$890,011
Alternative Uses
Best Use
Healthcare Medical
$1.14M
$1.00M – $1.34M
NOI $80,101 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$5.38M
$4.70M – $6.27M
NOI $376,298 @ 7.0% cap · market cap 19.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
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Frequently Asked Questions
What type of property is this?
Medical space - Single tenant medical office building in Longview, Texas.
Where is this medical space located?
The property is located at 2010 Bill Owens Pkwy Longview, TX.
What is the asking price?
The asking price for this property is $1,936,915.
What are key features of this property?
This property features: Strong Credit Single Tenant (Christus Health) MOB; Christus Health has an "A" Rating From Moody's; Tenant Recently Exercised 5‑Year Extension
