Single-Tenant Medical Office
For Sale
Contact for pricing
12101 Grant Road, Cypress, TX 77429
The building is fully leased under a triple-net agreement with annual rent increases and renewal options.
Property Size9,230 SF
Price / SF$327.74
Days on Market9
Property Features for 12101 Grant Road
General Information
Standard status
Active
Size
9,230 SF
Property subtype
Office
Occupancy
100%
Financials
Asking Price
$3,025,000
Cap Rate
7.02%
Building Details
Buildings
1
Building Size
9,230 SF
Tenancy
Single
Listing Agency:
Partners - Austin
Listed By:
Ryan McCullough, SIOR · License #TX 742422
Source:
Crexi
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 24 at 2:14PM
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 Partners - Austin
Investment Insights
Based on property information with market context.
This 9,230-square-foot medical office property in Cypress is occupied by Action Behavior Centers under a single-tenant lease. The tenant has extended its commitment for seven years, through July 2034, with annual increases of 2.5% and two additional five-year renewal options.
The lease is structured as NNN, with operating costs reimbursed by the tenant. The property is located at 12101 Grant Road.
The lease is structured as NNN, with operating costs reimbursed by the tenant. The property is located at 12101 Grant Road.
Key Highlights
- 9,230‑square‑foot medical office building leased to Action Behavior Centers
- Seven‑year lease extension runs through July 2034
- Annual rent increases of 2.5%
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
$145,119
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
4.80%
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%
$2,902,380
$2.9M
Cap Rate 7%
$2,073,129
$2.1M
Cap Rate 9%
$1,612,433
$1.6M
Market Conditions
NOI Build-Up for 9,230 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
$283.5K $30.72/SF
− Vacancy
−$41.7K −$4.52/SF
EGI
$241.9K $26.20/SF
− OpEx
−$96.7K −$10.48/SF
NOI
$145.1K $15.72/SF
Area
Harris County, TX
Vacancy
14.70%
Lease Rate
$30.72 /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%
$2,902,380
Cap Rate 7%
$2,073,129
Cap Rate 9%
$1,612,433
Alternative Uses
Best Use
Healthcare Medical
$2.07M
$1.81M – $2.42M
NOI $145,119 @ 7.0% cap · market cap 4.80%
Second Best
Office B
$1.73M
$1.51M – $2.01M
NOI $120,897 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,419 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
370
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77429, TX
94,176
Population
33,137
Households
2.8
Avg Household Size
36
Median Age
49%
College-Educated
93%
High-School Grad
37.8 sq mi
ZIP Area
2,491
Density / Sq Mi
$117,931
Median Household Income
$60,862
Median Earnings
$1,684
Median Rent
$342,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - The building is fully leased under a triple-net agreement with annual rent increases and renewal options.
Where is this medical office space located?
The property is located at 12101 Grant Road Cypress, TX.
What is the asking price?
The asking price for this property is $3,025,000.
What are key features of this property?
This property features: 9,230‑square‑foot medical office building leased to Action Behavior Centers; Seven‑year lease extension runs through July 2034; Annual rent increases of 2.5%
