Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Medical Office Building For Sale Title is generated by Realmo AI

    303 N Ridgeway Drive, Cleburne, TX 76033

    View on Map
    Claim this Listing
    For Sale
    $250,000

    2193 SF medical office building in prime location.

    Type:Commercial/Industrial
    Property size:
    2,193 SF
    Lot size:
    0.46 Acres
    Price / SF:
    $113/SF
    Added:
    Feb 6, 2025
    Days on Market:
    479
    Last Refresh:
    May 20 at 2:41 am

    Property Features for 303 N Ridgeway Drive

    General Information

    Standard status
    Active
    Size
    2,193 SF
    Lot size
    0.46 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1975

    We can help!

    Listing Contact
    DeAnna King

    Listing agent DeAnna King

    Listing office Coldwell Banker Apex, REALTORS Cleburne

    Listing date Feb 6, 2025

    Source Exitrealty

    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 Coldwell Banker Apex, REALTORS Cleburne

    HighLights

    • Prime location near West Henderson (US Bus 67) in an area of medical offices and businesses.
    • 2193 square feet of space suitable for various business purposes.
    • Previously used as a dental office, offering a layout with patient rooms, lab area, and reception.
    • Includes a private office with a full bath.
    • Features a break room, large storage area with shelving, and a utility room.
    • High potential for renovation and customization.

    Overview

    This 2193 square foot building is located a couple blocks off West Henderson (US Bus 67) in an area with medical offices and businesses. Previously used as a dental office, the building includes a lobby area, reception area, and break room. It also features three patient rooms, an office with a full bath, and a lab area. The property has a large storage area with shelving and a utility room in the back. The building is dated but offers potential for various possibilities.
    Location Intelligence

    Current Use by Public Records

    Traister Lynda DDS Dental Office

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cleburne
    County
    Johnson
    State
    Texas
    Longitude
    -97.4111
    Latitude
    32.3443

    Nearby Similar for Sale

    • $425,000
      3,320 SF

      Established Automotive Business Opportunity

      Turnkey automotive facility with income potential in Cleburne, Texas.
      206 Watters Street, Cleburne, TX 76031
      View Details
    • $677,500
      2,630 SF

      Farmhouse on Six Beautiful Acres

      Meticulously maintained farmhouse with versatile outbuildings and flexible bonus space.
      6438 FM 4, Cleburne, TX 76044
      View Details
    • $690,000

      Iconic Dance Hall Opportunity

      Freestanding Cleburne landmark available for sale or lease.
      3121 N Main Street, Cleburne, TX 76033
      View Details
    • $345,000

      Versatile Building in Cleburne, Texas

      Adaptable building in commercial-industrial district with multiple potential uses.
      1915 N Wilhite Street, Cleburne, TX 76031
      View Details
    • $675,000
      2,768 SF

      Spanish-Style Hacienda on Acreage

      Unique property with hacienda-inspired finishes on 3.38 acres.
      1319 East FM 4, Cleburne, TX 76031
      View Details
    • $1,350,000

      High-Visibility Industrial-Commercial Building For Sale

      11,000 sq ft industrial building on high-traffic corridor.
      2309 N Main Street, Cleburne, TX 76033
      View Details
    • $525,000

      Multi-Story Commercial Building in Cleburne

      High-visibility commercial property with income and expansion potential.
      110 E Chambers Street, Cleburne, TX 76031
      View Details
    • $3,999,000
      5,020 SF

      Custom Horse Property with Arena

      Fantastic horse property featuring covered arena, barn, and luxury amenities.
      3601 W Fm 4, Cleburne, TX 76033
      View Details
    • $695,000

      Versatile Cleburne Commercial Property

      Office, warehouse, and yard space in a growing area.
      500 W Kilpatrick Street, Cleburne, TX 76033
      View Details
    • $2,500,000

      Cleburne Express Car Wash Business

      Express car wash business with recent renovations and updated equipment.
      1828 N Main Street, Cleburne, TX 76033
      View Details
    • $599,000

      Cleburne Warehouse with 5-Bay Doors

      Light industrial warehouse space with office, restroom, and one acre.
      309 Fergason Road, Cleburne, TX 76031
      View Details
    • $539,000

      Downtown Cleburne Retail/Office Opportunity

      Two commercial buildings in downtown Cleburne, TX, for sale.
      102 S Main Street, Cleburne, TX 76033
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 2193 SF medical office building in prime location.
    Where is this medical office space located?
    The property is located at 303 N Ridgeway Drive Cleburne, TX.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Prime location near West Henderson (US Bus 67) in an area of medical offices and businesses.; 2193 square feet of space suitable for various business purposes.; Previously used as a dental office, offering a layout with patient rooms, lab area, and reception.
    (817) 517-4732
    We can help!
    Listing Contact
    DeAnna King
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    303 N Ridgeway Drive, Cleburne, TX 76033
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!