Medical Office Space with
For Sale
Contact for pricing
21386 Provincial Blvd., Katy, TX 77450
Existing medical office improvements and included equipment support immediate occupancy without a new build-out.
Property Size1,218 SF
Price / SF$324.30
Days on Market18
Property Features for 21386 Provincial Blvd.
General Information
Standard status
Active
Size
1,218 SF
Class
B
Property subtype
Office
Building Details
Year Built
2008
Buildings
1
Listing Agency:
Pierson Commercial, LLC
Listed By:
John DeLaRosa · License #TX9006576
Source:
Crexi
Added: Aug 14
Changed: Aug 30
Last Checked: Aug 30 at 6:16PM
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 Pierson Commercial, LLC
Investment Insights
Based on property information with market context.
This medical office property includes existing equipment and established interior improvements, allowing a medical user to occupy the space without starting a new build-out. The interior was completed in 2008 and is described as like new.
The property is located at 21386 Provincial Blvd. in Katy, Texas, within the 77450 ZIP code. The space may also be adapted for general office use, including attorney, insurance, real estate, or therapist operations.
The property is located at 21386 Provincial Blvd. in Katy, Texas, within the 77450 ZIP code. The space may also be adapted for general office use, including attorney, insurance, real estate, or therapist operations.
Key Highlights
- Medical office space with equipment included
- Existing improvements can support occupancy without a new build‑out
- Interior described as like new
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
$20,253
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
5.13%
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%
$405,060
$405.1K
Cap Rate 7%
$289,329
$289.3K
Cap Rate 9%
$225,033
$225.0K
Market Conditions
NOI Build-Up for 1,218 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
$36.1K $29.64/SF
− Vacancy
−$2.3K −$1.93/SF
EGI
$33.8K $27.71/SF
− OpEx
−$13.5K −$11.09/SF
NOI
$20.3K $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%
$405,060
Cap Rate 7%
$289,329
Cap Rate 9%
$225,033
Alternative Uses
Best Use
Healthcare Medical
$289.3K
$253.2K – $337.6K
NOI $20,253 @ 7.0% cap · market cap 5.13%
Second Best
Office B
$242.2K
$211.9K – $282.5K
NOI $16,951 @ 7.0% cap · market cap 4.29%
Theoretical Best
Multifamily LT 5
$15.17M
$13.28M – $17.70M
NOI $1,062,131 @ 7.0% cap · market cap 268.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,043
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77450, TX
72,977
Population
26,259
Households
2.8
Avg Household Size
38
Median Age
53%
College-Educated
95%
High-School Grad
19.7 sq mi
ZIP Area
3,704
Density / Sq Mi
$105,607
Median Household Income
$55,656
Median Earnings
$1,730
Median Rent
$342,000
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing medical office improvements and included equipment support immediate occupancy without a new build-out.
Where is this medical office space located?
The property is located at 21386 Provincial Blvd. Katy, TX.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Medical office space with equipment included; Existing improvements can support occupancy without a new build‑out; Interior described as like new
