Move-In-Ready Medical Office
For Sale
$825,000
215 Oak Dr S, Lake Jackson, TX 77566
Fully equipped medical office suite in a Lake Jackson medical office park with direct Highway 288 access.
Property Size3,337 SF
Price / SF$247.23
Days on Market58
Property Features for 215 Oak Dr S
General Information
Standard status
Active
Size
3,337 SF
Property subtype
Office Medical
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Amenities
Turnkey condition - fully outfitted, operational, and immediately available for occupancy
3,337 square feet of efficient, purpose-designed clinical space
Multi-specialty capable: surgical, cosmetic and family medicine
Professional reception and patient waiting area
Procedure/surgical suite with clinical infrastructure
Proven medical destination - high patient traffic corridor
Directly adjacent to St. Luke's Hospital, Lake Jackson
Located within a premier medical office park campus - With access to a Major Thoroughfare Highway 288
Building Details
Building Size
3,337 SF
Year Built
1993
Listing Agency:
(713) 452-4370
Listed By:
Preston Williams · License #License(s): TX: 839673
(713) 452-4370
Source:
Marcusmillichap
Added: Jun 28
Changed: Aug 14
Last Checked: Aug 24 at 3:22AM
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 Preston Williams
Investment Insights
Based on property information with market context.
This fully equipped, move-in-ready medical office suite is offered as 215 Oak Drive South, Suite J. Spanning 3,337 square feet, the interior is positioned to support medical practice use with a configuration tailored for surgical, plastic surgery, and multi-specialty family medicine services.
The property sits within an established medical office park in Lake Jackson, Texas, and is directly adjacent to St. Luke's Hospital, Lake Jackson. The setting is designed to serve patients, with ample parking and easy accessibility for an office environment focused on healthcare delivery. The location also provides direct access to Highway 288, supporting convenient reach throughout Brazoria County and the greater Houston metropolitan area.
For healthcare providers looking to establish or relocate a practice, this suite offers an immediate path to occupancy thanks to its move-in-ready condition and existing medical office setup. Its hospital-adjacent positioning and suitability for surgical and multi-specialty family medicine make it a practical fit for practices that benefit from being closely integrated with an operating hospital environment.
The property sits within an established medical office park in Lake Jackson, Texas, and is directly adjacent to St. Luke's Hospital, Lake Jackson. The setting is designed to serve patients, with ample parking and easy accessibility for an office environment focused on healthcare delivery. The location also provides direct access to Highway 288, supporting convenient reach throughout Brazoria County and the greater Houston metropolitan area.
For healthcare providers looking to establish or relocate a practice, this suite offers an immediate path to occupancy thanks to its move-in-ready condition and existing medical office setup. Its hospital-adjacent positioning and suitability for surgical and multi-specialty family medicine make it a practical fit for practices that benefit from being closely integrated with an operating hospital environment.
Key Highlights
- 3,337 SF fully equipped, move‑in‑ready medical office suite in a Lake Jackson medical office park
- Year built 1993
- Designed for surgical, plastic surgery, and multi‑specialty family medicine practices
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
$55,710
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
6.75%
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%
$1,114,200
$1.1M
Cap Rate 7%
$795,857
$795.9K
Cap Rate 9%
$619,000
$619.0K
Market Conditions
NOI Build-Up for 3,337 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
$98.9K $29.64/SF
− Vacancy
−$24.6K −$7.38/SF
EGI
$74.3K $22.26/SF
− OpEx
−$18.6K −$5.56/SF
NOI
$55.7K $16.69/SF
Area
Brazoria County, TX
Vacancy
24.90%
Lease Rate
$29.64 /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%
$1,114,200
Cap Rate 7%
$795,857
Cap Rate 9%
$619,000
Alternative Uses
Best Use
Office B
$795.9K
$696.4K – $928.5K
NOI $55,710 @ 7.0% cap · market cap 6.75%
Second Best
Healthcare Medical
$637.9K
$558.2K – $744.3K
NOI $44,655 @ 7.0% cap · market cap 5.41%
Theoretical Best
Multifamily LT 5
$41.57M
$36.37M – $48.50M
NOI $2,909,960 @ 7.0% cap · market cap 352.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77566, TX
30,538
Population
12,277
Households
2.5
Avg Household Size
38
Median Age
30%
College-Educated
94%
High-School Grad
23.7 sq mi
ZIP Area
1,289
Density / Sq Mi
$91,406
Median Household Income
$50,917
Median Earnings
$1,417
Median Rent
$256,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully equipped medical office suite in a Lake Jackson medical office park with direct Highway 288 access.
Where is this medical office space located?
The property is located at 215 Oak Dr S Lake Jackson, TX.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 3,337 SF fully equipped, move‑in‑ready medical office suite in a Lake Jackson medical office park; Year built 1993; Designed for surgical, plastic surgery, and multi‑specialty family medicine practices
