Multi-Tenant Medical Office
For Sale
Contact for pricing
15211 Fondren Road, Missouri City, TX 77489
Built in 1999, this multi-tenant property serves medical and professional users.
Property Size9,000 SF
Lot Size0.99 Acres
Price / SF$266.67
Days on Market8
Property Features for 15211 Fondren Road
General Information
Standard status
Active
Size
9,000 SF
Net Rentable
9,000 SF
Class
B
Lot size
0.99 Acres
Property subtype
Retail
Occupancy
75%
Lease Type
NNN
Net Operating Income
$162,000
Additional Details
Asking Price
$2,400,000
Building Details
Year Built
1999
Units
4
Tenancy
Single
Listing Agency:
Call It Closed International Realty
Listed By:
Kathleen Matkin Eskola · License #0816625
Source:
Crexi
Added: Aug 4
Changed: Aug 10
Last Checked: Aug 10 at 4:44AM
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 Call It Closed International Realty
Investment Insights
Based on property information with market context.
Located at 15211 Fondren Road in Missouri City, Texas, this multi-tenant medical office property includes approximately 9,000 SF of rentable area across a professional plaza configuration. The building was constructed in 1999 and occupies approximately 0.99 acres in Fort Bend County.
The property is offered with an NNN lease structure and is positioned as a medical and professional-use asset. Its address places it on Fondren Road within the 77489 ZIP code, providing a clearly identified location for tenants and investors evaluating medical office space in Missouri City.
The property is offered with an NNN lease structure and is positioned as a medical and professional-use asset. Its address places it on Fondren Road within the 77489 ZIP code, providing a clearly identified location for tenants and investors evaluating medical office space in Missouri City.
Key Highlights
- Approximately 9,000 SF of rentable medical office area
- Approximately 0.99 acres in Fort Bend County
- Multi‑tenant medical and professional plaza configuration
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
$149,652
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
6.24%
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%
$2,993,040
$3.0M
Cap Rate 7%
$2,137,886
$2.1M
Cap Rate 9%
$1,662,800
$1.7M
Market Conditions
NOI Build-Up for 9,000 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
$266.8K $29.64/SF
− Vacancy
−$17.3K −$1.93/SF
EGI
$249.4K $27.71/SF
− OpEx
−$99.8K −$11.09/SF
NOI
$149.7K $16.63/SF
Area
Fort Bend County, TX
Vacancy
6.50%
Lease Rate
$29.64 /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%
$2,993,040
Cap Rate 7%
$2,137,886
Cap Rate 9%
$1,662,800
Alternative Uses
Best Use
Healthcare Medical
$2.14M
$1.87M – $2.49M
NOI $149,652 @ 7.0% cap · market cap 6.24%
Second Best
Office B
$1.79M
$1.57M – $2.09M
NOI $125,257 @ 7.0% cap · market cap 5.22%
Theoretical Best
Multifamily LT 5
$112.12M
$98.10M – $130.80M
NOI $7,848,260 @ 7.0% cap · market cap 327.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77489, TX
37,257
Population
13,883
Households
2.7
Avg Household Size
38
Median Age
22%
College-Educated
88%
High-School Grad
11.3 sq mi
ZIP Area
3,297
Density / Sq Mi
$74,097
Median Household Income
$39,189
Median Earnings
$1,797
Median Rent
$209,900
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.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Built in 1999, this multi-tenant property serves medical and professional users.
Where is this medical office space located?
The property is located at 15211 Fondren Road Missouri City, TX.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Approximately 9,000 SF of rentable medical office area; Approximately 0.99 acres in Fort Bend County; Multi‑tenant medical and professional plaza configuration
