Rehabilitation Center with Aquatic
For Sale
$798,000
9402 Mesa Dr, Houston, TX 77028
Freestanding healthcare facility with treatment rooms, therapy space, administrative offices, and patient reception areas.
Property Size3,532 SF
Lot Size0.29 Acres
Price / SF$225.93
Days on Market46
Property Features for 9402 Mesa Dr
General Information
Standard status
Active
Size
3,532 SF
Lot size
0.29 Acres
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
monument signage
aquatic rehabilitation pool
rehabilitation and therapy area
private treatment rooms
administrative offices
break room
reception and waiting area
Building Details
Year Built
1966
Year Renovated
2018
Buildings
1
Building Size
3,532 SF
Listed By:
T.J. Van Auken
(832) 788-8457
Source:
Cbcworldwide
Added: Aug 4
Changed: Sep 13
Last Checked: Sep 18 at 3:57AM
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 T.J. Van Auken
Investment Insights
Based on property information with market context.
This freestanding rehabilitation facility contains ±3,532 SF on approximately 12,527 SF of land. The layout includes an aquatic rehabilitation pool, open therapy and rehabilitation space, several private treatment rooms, administrative offices, a break room, and a substantial reception and waiting area. The building was renovated in 2018 and was originally built in 1966. Equipment may be included, supporting a range of rehabilitation, physical therapy, chiropractic, wellness, medical clinic, and specialty healthcare operations.
Positioned along Mesa Drive in the East Houston corridor near Tidwell Drive, the property offers monument signage, on-site parking, and convenient access to Loop 610, US 90, and Downtown Houston. It is located opposite Fiesta Grocery store and near schools, community services, retail, neighborhood businesses, and residential areas. The surrounding context includes the 127-acre Robins Landing mixed-income master-planned community.
Positioned along Mesa Drive in the East Houston corridor near Tidwell Drive, the property offers monument signage, on-site parking, and convenient access to Loop 610, US 90, and Downtown Houston. It is located opposite Fiesta Grocery store and near schools, community services, retail, neighborhood businesses, and residential areas. The surrounding context includes the 127-acre Robins Landing mixed-income master-planned community.
Key Highlights
- ±3,532 SF freestanding rehabilitation facility
- Approximately 12,527 SF of land
- Dedicated aquatic rehabilitation pool and therapy area
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
$48,063
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
6.02%
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%
$961,260
$961.3K
Cap Rate 7%
$686,614
$686.6K
Cap Rate 9%
$534,033
$534.0K
Market Conditions
NOI Build-Up for 3,532 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
$89.0K $25.20/SF
− Vacancy
−$8.9K −$2.52/SF
EGI
$80.1K $22.68/SF
− OpEx
−$32.0K −$9.07/SF
NOI
$48.1K $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%
$961,260
Cap Rate 7%
$686,614
Cap Rate 9%
$534,033
Alternative Uses
Best Use
Healthcare Medical
$686.6K
$600.8K – $801.1K
NOI $48,063 @ 7.0% cap · market cap 6.02%
Second Best
Office B
$588.5K
$515.0K – $686.6K
NOI $41,197 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$908.2K
$794.7K – $1.06M
NOI $63,576 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
Explore this area
Business Placement
Demographics for 77028, TX
18,701
Population
7,102
Households
2.6
Avg Household Size
35
Median Age
8%
College-Educated
69%
High-School Grad
9.1 sq mi
ZIP Area
2,055
Density / Sq Mi
$36,244
Median Household Income
$28,099
Median Earnings
$1,115
Median Rent
$108,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Houston, TX
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Frequently Asked Questions
What type of property is this?
Rehabilitation center - Freestanding healthcare facility with treatment rooms, therapy space, administrative offices, and patient reception areas.
Where is this rehabilitation center located?
The property is located at 9402 Mesa Dr Houston, TX.
What is the asking price?
The asking price for this property is $798,000.
What are key features of this property?
This property features: ±3,532 SF freestanding rehabilitation facility; Approximately 12,527 SF of land; Dedicated aquatic rehabilitation pool and therapy area
