Freestanding Medical Office
For Sale
Contact for pricing
12036 Airline Dr, Houston, TX 77037
Standalone commercial building with adaptable office space and county zoning.
Property Size8,000 SF
Price / SF$199.88
Days on Market200
Property Features for 12036 Airline Dr
General Information
Standard status
Active
Size
8,000 SF
Class
C
Total Parking Spaces
33
Property subtype
Mixed Use, Office
Zoning
N/Ap, County
Investment Type
Owner/User
Building Details
Year Built
1974
Year Renovated
1999
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Grey Realty
Listed By:
Veronica Grey · License #TX 777980
Source:
Crexi
Added: Feb 19
Changed: Aug 31
Last Checked: Sep 6 at 10:06PM
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 Grey Realty
Investment Insights
Based on property information with market context.
This freestanding medical office building contains 8,000 square feet and was built in 1974. The property is configured for medical office use and may also accommodate retail, veterinary, or other business office operations.
Located at 12036 Airline Dr in Houston, Texas, the building is situated in an area identified with county zoning. Its standalone configuration provides a dedicated commercial facility for an owner-user or business seeking office space with flexible use potential.
Located at 12036 Airline Dr in Houston, Texas, the building is situated in an area identified with county zoning. Its standalone configuration provides a dedicated commercial facility for an owner-user or business seeking office space with flexible use potential.
Key Highlights
- 8,000‑square‑foot freestanding medical office building
- Built in 1974
- Located at 12036 Airline Dr, Houston, TX 77037
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
$108,864
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
6.81%
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%
$2,177,280
$2.2M
Cap Rate 7%
$1,555,200
$1.6M
Cap Rate 9%
$1,209,600
$1.2M
Market Conditions
NOI Build-Up for 8,000 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
$201.6K $25.20/SF
− Vacancy
−$20.2K −$2.52/SF
EGI
$181.4K $22.68/SF
− OpEx
−$72.6K −$9.07/SF
NOI
$108.9K $13.61/SF
Area
Houston, TX
Vacancy
10.00%
Lease Rate
$25.20 /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%
$2,177,280
Cap Rate 7%
$1,555,200
Cap Rate 9%
$1,209,600
Alternative Uses
Best Use
Healthcare Medical
$1.56M
$1.36M – $1.81M
NOI $108,864 @ 7.0% cap · market cap 6.81%
Second Best
Office B
$1.33M
$1.17M – $1.56M
NOI $93,312 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$2.06M
$1.80M – $2.40M
NOI $144,000 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
919
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77037, TX
19,569
Population
5,312
Households
3.7
Avg Household Size
31
Median Age
7%
College-Educated
51%
High-School Grad
6.2 sq mi
ZIP Area
3,156
Density / Sq Mi
$46,176
Median Household Income
$30,779
Median Earnings
$1,056
Median Rent
$160,500
Median Home Value
Market
Vacancy Rate% for Office in Houston, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Standalone commercial building with adaptable office space and county zoning.
Where is this medical office space located?
The property is located at 12036 Airline Dr Houston, TX.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: 8,000‑square‑foot freestanding medical office building; Built in 1974; Located at 12036 Airline Dr, Houston, TX 77037
