Turnkey Medical Office
For Sale
$599,000
2606 Harwood Road, Bedford, TX 76021
Updated 1-story brick office with reception, exam-treatment rooms, conference spaces, and generous parking.
Property Size2,369 SF
Days on Market40
Property Features for 2606 Harwood Road
General Information
Standard status
Active
Size
2,369 SF
Property subtype
Business
Taxes and HOA fees
Annual Taxes
$9,248
Building Details
Building Size
2,369 SF
Year Built
1994
Stories
1
Construction
brick
Listing Agency:
Texas Ally Real Estate Group
(512) 763-2559
Listed By:
Charisse Fontaine · License #0466906
Source:
Soldbywes
Added: Jul 24
Changed: Aug 8
Last Checked: Aug 31 at 12:29AM
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 Texas Ally Real Estate Group
Investment Insights
Based on property information with market context.
This for-sale medical office building is a stand-alone, one-story brick property presented as an established, active practice location. The interior includes a reception area, five private exam-treatment rooms, two spacious conference spaces, and a generous waiting area, along with multiple restrooms and file or storage space. The space is described as freshly updated and is offered with medical furniture and equipment negotiable, with the owner currently occupying and operating the practice. Private showings are available daily with specified timing for mornings before 9:00 AM or after 5:00 PM and weekends by appointment.
The property is located on Harwood Rd in Bedford, TX, and is described as centrally located within the city, with nearby access to Colleyville, Euless, Grapevine, Hurst, North Richland Hills, Southlake, and DFW Airport.
The layout supports both patient-facing and professional conference use, and the site includes an abundance of parking. A basic floorplan diagram is available under the document link, and a land survey is available upon request.
The property is located on Harwood Rd in Bedford, TX, and is described as centrally located within the city, with nearby access to Colleyville, Euless, Grapevine, Hurst, North Richland Hills, Southlake, and DFW Airport.
The layout supports both patient-facing and professional conference use, and the site includes an abundance of parking. A basic floorplan diagram is available under the document link, and a land survey is available upon request.
Key Highlights
- 1994 built, updated 1‑story stand‑alone brick medical office
- Reception area plus 5 private exam‑treatment rooms and 2 conference spaces
- Generous waiting area and multiple restrooms
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
$40,936
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
6.83%
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%
$818,720
$818.7K
Cap Rate 7%
$584,800
$584.8K
Cap Rate 9%
$454,844
$454.8K
Market Conditions
NOI Build-Up for 2,369 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
$72.8K $30.72/SF
− Vacancy
−$18.2K −$7.68/SF
EGI
$54.6K $23.04/SF
− OpEx
−$13.6K −$5.76/SF
NOI
$40.9K $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%
$818,720
Cap Rate 7%
$584,800
Cap Rate 9%
$454,844
Alternative Uses
Best Use
Office B
$584.8K
$511.7K – $682.3K
NOI $40,936 @ 7.0% cap · market cap 6.83%
Second Best
Healthcare Medical
$579.9K
$507.4K – $676.6K
NOI $40,595 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$833.3K
$729.2K – $972.2K
NOI $58,334 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
885
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76021, TX
35,265
Population
15,410
Households
2.3
Avg Household Size
42
Median Age
45%
College-Educated
94%
High-School Grad
7.3 sq mi
ZIP Area
4,831
Density / Sq Mi
$84,745
Median Household Income
$48,368
Median Earnings
$1,432
Median Rent
$349,800
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.
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Updated 1-story brick office with reception, exam-treatment rooms, conference spaces, and generous parking.
Where is this medical office space located?
The property is located at 2606 Harwood Road Bedford, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1994 built, updated 1‑story stand‑alone brick medical office; Reception area plus 5 private exam‑treatment rooms and 2 conference spaces; Generous waiting area and multiple restrooms
