Professional Medical/Office Building For
For Sale
Contact for pricing
15430 Ridge Park Drive, Houston, TX 77095
3,000 SF medical/office building near Hwy 290 and Hwy 6.
Property Size3,000 SF
Price / SF$248.33
Days on Market198
Property Features for 15430 Ridge Park Drive
General Information
Standard status
Active
Size
3,000 SF
Class
B
Total Parking Spaces
14
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
2007
Year Renovated
2022
Buildings
1
Stories
1
Units
14
Tenancy
Multi
Listing Agency:
United Heroes Realty
(832) 904-2882
Listed By:
Tom Diep · License #752144
Source:
Crexi
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 12 at 1:34PM
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 United Heroes Realty
Investment Insights
Based on property information with market context.
This 3,000 square foot medical/office building, constructed in 2007, is situated within a professional center. The building features a durable metal roof and includes two reception offices, five private offices, a conference room, and a kitchenette. A new water heater was installed in 2022. The property benefits from its location near Highway 290 and Highway 6, providing convenient access and visibility. It is suitable for medical or professional users.
Key Highlights
- Excellent access and visibility near Hwy 290 and Hwy 6.
- 3,000 SF medical/office building suitable for medical or professional users.
- Features 2 reception offices, 5 private offices, a conference room, and a kitchenette.
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
$41,731
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
5.60%
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%
$834,620
$834.6K
Cap Rate 7%
$596,157
$596.2K
Cap Rate 9%
$463,678
$463.7K
Market Conditions
NOI Build-Up for 3,000 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
$75.6K $25.20/SF
− Vacancy
−$6.0K −$2.02/SF
EGI
$69.6K $23.18/SF
− OpEx
−$27.8K −$9.27/SF
NOI
$41.7K $13.91/SF
Area
ZIP 77095
Vacancy
8.00%
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%
$834,620
Cap Rate 7%
$596,157
Cap Rate 9%
$463,678
Alternative Uses
Best Use
Healthcare Medical
$596.2K
$521.6K – $695.5K
NOI $41,731 @ 7.0% cap · market cap 5.60%
Second Best
Office B
$563.1K
$492.8K – $657.0K
NOI $39,420 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$771.4K
$675.0K – $900.0K
NOI $54,000 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
739
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77095, TX
71,206
Population
26,429
Households
2.7
Avg Household Size
37
Median Age
42%
College-Educated
93%
High-School Grad
14.7 sq mi
ZIP Area
4,844
Density / Sq Mi
$95,657
Median Household Income
$49,466
Median Earnings
$1,638
Median Rent
$288,500
Median Home Value
Market
Vacancy Rate% for Office in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 3,000 SF medical/office building near Hwy 290 and Hwy 6.
Where is this medical office space located?
The property is located at 15430 Ridge Park Drive Houston, TX.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: Excellent access and visibility near Hwy 290 and Hwy 6.; 3,000 SF medical/office building suitable for medical or professional users.; Features **2 reception offices, 5 private offices, a conference room, and a kitchenette.**
