Medical Office Building with NNN
New
For Sale
$1,234,000
1306 Morgan Ave, Corpus Christi, TX 78404
Established dental operator occupies the entire facility under a long-term lease with scheduled annual increases and renewal options.
Property Size2,400 SF
Lot Size0.33 Acres
Price / SF$514.17
Days on Market3
Property Features for 1306 Morgan Ave
General Information
Standard status
Active
Size
2,400 SF
Lot size
0.33 Acres
Property subtype
Office Medical
Occupancy
100%
Additional Details
Cap Rate
7%
Amenities
Smiley Dental & Orthodontics Sale-Leaseback
25 Unit Corporate Guarantee
15-Year Absolute NNN with Four 5-Year Options
Annual 2% Increses and Zero Landlord Responsibilities
15-Year Blended CAP Rate of 8.07% & $1,494,000 Total NOI Collected
Smiley Dental Established in 2003 with Approximately 45 Providers and 220 Employees Currently
No State Income Tax in Texas
Building Details
Building Size
2,400 SF
Year Built
2014
Buildings
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
Marcus & Millichap - Dallas
(972) 755-5283
Listed By:
William Kim · License #License(s): CA: 01344741, TX: 755628, NV: S.0204443
(972) 755-5283
Source:
Marcusmillichap
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 3:44AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
This 2,400-square-foot medical office building was completed in 2014 on a 0.328-acre parcel. The entire facility is occupied by Smiley Dental & Orthodontics, a Texas dental services provider founded in 2003 with 25 locations, approximately 45 providers, and 220 employees. Its services include general dentistry, orthodontics, and oral surgery.
The occupant will enter a new 15-year absolute NNN lease covering the property. Under the stated lease structure, the tenant is responsible for operating expenses, maintenance, repairs, taxes, and insurance. Annual rent increases are set at 2%, with four five-year renewal options. The property is located at 1306 Morgan Ave in Corpus Christi, Texas.
The occupant will enter a new 15-year absolute NNN lease covering the property. Under the stated lease structure, the tenant is responsible for operating expenses, maintenance, repairs, taxes, and insurance. Annual rent increases are set at 2%, with four five-year renewal options. The property is located at 1306 Morgan Ave in Corpus Christi, Texas.
Key Highlights
- 2,400‑square‑foot medical office building on a 0.328‑acre parcel
- Constructed in 2014
- New 15‑year absolute NNN lease covering the entire property
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,680
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78404, TX
15,339
Population
6,884
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
4,793
Density / Sq Mi
$60,264
Median Household Income
$45,864
Median Earnings
$1,172
Median Rent
$180,500
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Established dental operator occupies the entire facility under a long-term lease with scheduled annual increases and renewal options.
Where is this medical office space located?
The property is located at 1306 Morgan Ave Corpus Christi, TX.
What is the asking price?
The asking price for this property is $1,234,000.
What are key features of this property?
This property features: 2,400‑square‑foot medical office building on a 0.328‑acre parcel; Constructed in 2014; New 15‑year absolute NNN lease covering the entire property
