Medical Office with NN
1536 FM 359 Rd, Richmond, TX 77406
For Sale
Contact for pricing
Purpose-built dental facility with a corporate-guaranteed NN lease and annual rent increases.
Property Size4,900 SF
Price / SF$350
Days on Market99
Property Features for 1536 FM 359 Rd
General Information
Standard status
Size
Class
Property subtype
Occupancy
Lease Type
Investment Type
Net Operating Income
Building Details
Year Built
Buildings
Units
Tenancy
Listing Agency:
Atlantic Capital Partners
Listed By:
David Hoppe · License NC #288268
(704) 375-7771
Source:
Crexi
Added: Aug 4
Changed: Nov 4
Last Checked: Nov 8 at 7:04AM
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 Atlantic Capital Partners
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Investment Insights
Based on property information with market context.
This 4,900-square-foot medical office property was constructed in 1997 as a purpose-built dental facility. The asset is leased to Heartland Dental, LLC under a corporate-guaranteed NN lease, with approximately 6.2 years remaining in the primary term. Contractual terms include 1.0% annual rent increases during the initial lease period, along with renewal options.
The property is located at 1536 FM 359 Road in Richmond, Texas, along a commercial corridor reporting approximately 21,700 vehicles per day. Richmond is approximately 30 miles southwest of Downtown Houston and serves as a residential and service center within Fort Bend County. The site is positioned within the Richmond-Rosenberg trade area and along the Grand Parkway corridor, where the source information identifies ongoing residential and commercial development.
The property is located at 1536 FM 359 Road in Richmond, Texas, along a commercial corridor reporting approximately 21,700 vehicles per day. Richmond is approximately 30 miles southwest of Downtown Houston and serves as a residential and service center within Fort Bend County. The site is positioned within the Richmond-Rosenberg trade area and along the Grand Parkway corridor, where the source information identifies ongoing residential and commercial development.
Key Highlights
- 4,900‑square‑foot medical office property constructed in 1997
- Leased to Heartland Dental, LLC under a corporate‑guaranteed NN lease
- Approximately 6.2 years remain in the primary lease term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,477
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,629,540
$1.6M
Cap Rate 7%
$1,163,957
$1.2M
Cap Rate 9%
$905,300
$905.3K
Market Conditions
NOI Build-Up for 4,900 SF
Gross rent
$145.2K $29.64/SF
− Vacancy
−$9.4K −$1.93/SF
EGI
$135.8K $27.71/SF
− OpEx
−$54.3K −$11.09/SF
NOI
$81.5K $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 Rate 5%
$1,629,540
Cap Rate 7%
$1,163,957
Cap Rate 9%
$905,300
Alternative Uses
Best Use
Healthcare Medical
$1.16M
$1.02M – $1.36M
NOI $81,477 @ 7.0% cap · market cap 4.75%
Second Best
Office B
$974.2K
$852.4K – $1.14M
NOI $68,195 @ 7.0% cap · market cap 3.98%
Theoretical Best
Mixed Use
$1.59M
$1.39M – $1.85M
NOI $111,081 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 77406, TX
58,703
Population
22,096
Households
2.7
Avg Household Size
37
Median Age
49%
College-Educated
95%
High-School Grad
57.6 sq mi
ZIP Area
1,019
Density / Sq Mi
$143,023
Median Household Income
$65,609
Median Earnings
$1,986
Median Rent
$383,400
Median Home Value
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Market
Properties on Market for Medical Office Space in Fort Bend County
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Brazos Bend Animal Hospital — 721 FM359, Richmond, TX 77406
Frequently Asked Questions
What type of property is this?
Medical Office Space - Purpose-built dental facility with a corporate-guaranteed NN lease and annual rent increases.
Where is this medical office space located?
The property is located at 1536 FM 359 Rd Richmond, TX.
What is the asking price?
The asking price for this property is $1,715,000.
What are key features of this property?
This property features: 4,900‑square‑foot medical office property constructed in 1997; Leased to Heartland Dental, LLC under a corporate‑guaranteed NN lease; Approximately 6.2 years remain in the primary lease term
