Frisco Medical Office
For Sale
Contact for pricing
14688 State Hwy 121, Frisco, TX 75035
Fully leased medical office condo in Frisco, Texas.
Property Size1,601 SF
Price / SF$539.66
Days on Market188
Property Features for 14688 State Hwy 121
General Information
Standard status
Active
Size
1,601 SF
Class
B
Property subtype
Office
Zoning
Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$60,438
Building Details
Year Built
2017
Units
1
Tenancy
Single
Listing Agency:
Ready Real Estate
(817) 569-8200
Listed By:
Suresh Malepati · License #777092
Source:
Crexi
Added: Feb 17
Changed: Aug 7
Last Checked: Aug 23 at 11:26AM
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 Ready Real Estate
Investment Insights
Based on property information with market context.
This 1,600 SF medical office condo, built in 2017, is located in Frisco, Texas, within a modern office park at the intersection of State Highway 121 and Independence Parkway. The property is fully leased to a medical tenant, with a new 5-year lease extension in progress. The suite features a reception area, two private offices, a conference room, a bullpen workspace, and two restrooms. It also includes high-quality finish-out, construction, fixtures, furniture, and equipment. The property has direct access to Highway 121 and the Dallas North Tollway and benefits from proximity to healthcare providers, retail centers, and residential communities. This property is an income-producing medical office and is suitable for passive investors seeking returns in a healthcare-driven market.
Key Highlights
- Fully leased to an established medical tenant with a new 5‑year lease extension in progress, ensuring stable cash flow.
- Prime location at the signalized intersection of State Highway 121 and Independence Parkway in Frisco, Texas, offering exceptional visibility and accessibility.**
- Located in a high‑growth, healthcare‑driven market with strong demographics and continued population growth.
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
$32,844
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
3.80%
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%
$656,880
$656.9K
Cap Rate 7%
$469,200
$469.2K
Cap Rate 9%
$364,933
$364.9K
Market Conditions
NOI Build-Up for 1,601 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
$50.3K $31.44/SF
− Vacancy
−$6.5K −$4.09/SF
EGI
$43.8K $27.35/SF
− OpEx
−$10.9K −$6.84/SF
NOI
$32.8K $20.51/SF
Area
Frisco, TX
Vacancy
13.00%
Lease Rate
$31.44 /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%
$656,880
Cap Rate 7%
$469,200
Cap Rate 9%
$364,933
Alternative Uses
Best Use
Office B
$469.2K
$410.6K – $547.4K
NOI $32,844 @ 7.0% cap · market cap 3.80%
Second Best
Healthcare Medical
$296.4K
$259.4K – $345.8K
NOI $20,749 @ 7.0% cap · market cap 2.40%
Theoretical Best
Office A
$624.6K
$546.6K – $728.8K
NOI $43,725 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75035, TX
82,596
Population
29,198
Households
2.8
Avg Household Size
35
Median Age
68%
College-Educated
96%
High-School Grad
24.9 sq mi
ZIP Area
3,317
Density / Sq Mi
$161,030
Median Household Income
$83,321
Median Earnings
$2,171
Median Rent
$562,300
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
- VetIQ Petcare — 16066 State Hwy 121, Frisco, TX 75035
- Collin County Veterinary Imaging Center — 5353 Independence Pkwy #100, Frisco, TX 75035
Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased medical office condo in Frisco, Texas.
Where is this medical office space located?
The property is located at 14688 State Hwy 121 Frisco, TX.
What is the asking price?
The asking price for this property is $864,000.
What are key features of this property?
This property features: Fully leased to an established medical tenant with a new 5‑year lease extension in progress, ensuring stable cash flow.; Prime location at the signalized intersection of State Highway 121 and Independence Parkway in Frisco, Texas, offering exceptional visibility and accessibility.**; Located in a high‑growth, healthcare‑driven market with strong demographics and continued population growth.
