Vacant Medical Office
For Sale
Contact for pricing
2210 Paddock Way Dr, Grand Prairie, TX 75050
12,750 SF medical office building in Grand Prairie, Texas.
Property Size12,750 SF
Price / SF$215
Days on Market198
Property Features for 2210 Paddock Way Dr
General Information
Standard status
Active
Size
12,750 SF
Class
B
Property subtype
Office
Occupancy
19%
Lease Type
NNN
Investment Type
Owner/User
Net Operating Income
$47,596
Building Details
Year Renovated
2009
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Dallas
(972) 755-5200
Listed By:
Alyssa Difilippo · License #TX 843444
Source:
Crexi
Added: Feb 13
Changed: Aug 25
Last Checked: Aug 29 at 10:35AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
This 12,750-square-foot medical office building is located at 2210 Paddock Way Drive in Grand Prairie, Texas. The property is a compelling owner-user opportunity, allowing a medical operator to secure immediate occupancy. The offering includes the medical office building and its associated land footprint. The seller is retaining the adjacent rear vacant land parcel, which is not included in the purchase. The asset benefits from strong medical adjacency, located near a Baylor Scott & White Family Medical Center. This proximity supports patient convenience, referral activity, and long-term operational viability for outpatient and specialty medical users. The property provides direct access to Interstate 30 and State Highway 360. This location allows for efficient access for patients, physicians, and staff throughout Grand Prairie, Arlington, Irving, and surrounding markets. Additionally, the property benefits from close proximity to Dallas/Fort Worth International Airport. With its vacant status and functional footprint, the building is well suited for single-tenant owner-user occupancy, multi-tenant outpatient use, or a customized medical configuration. The property offers flexibility for an owner-user to tailor the space and establish a long-term presence within a centrally located Grand Prairie medical submarket.
Key Highlights
- Vacant 12,750 SF medical office building offering immediate occupancy.
- Strong medical adjacency to Baylor Scott & White Family Medical Center.
- Excellent regional connectivity with direct access to Interstate 30 and State Highway 360.
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
$177,358
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
6.47%
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%
$3,547,160
$3.5M
Cap Rate 7%
$2,533,686
$2.5M
Cap Rate 9%
$1,970,644
$2.0M
Market Conditions
NOI Build-Up for 12,750 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
$321.3K $25.20/SF
− Vacancy
−$25.7K −$2.02/SF
EGI
$295.6K $23.18/SF
− OpEx
−$118.2K −$9.27/SF
NOI
$177.4K $13.91/SF
Area
Grand Prairie, TX
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%
$3,547,160
Cap Rate 7%
$2,533,686
Cap Rate 9%
$1,970,644
Alternative Uses
Best Use
Healthcare Medical
$2.53M
$2.22M – $2.96M
NOI $177,358 @ 7.0% cap · market cap 6.47%
Second Best
Office B
$2.30M
$2.01M – $2.69M
NOI $161,109 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$3.58M
$3.14M – $4.18M
NOI $250,920 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,205
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75050, TX
43,531
Population
17,286
Households
2.5
Avg Household Size
33
Median Age
23%
College-Educated
79%
High-School Grad
25.8 sq mi
ZIP Area
1,687
Density / Sq Mi
$70,484
Median Household Income
$39,322
Median Earnings
$1,412
Median Rent
$224,400
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 - 12,750 SF medical office building in Grand Prairie, Texas.
Where is this medical office space located?
The property is located at 2210 Paddock Way Dr Grand Prairie, TX.
What is the asking price?
The asking price for this property is $2,741,300.
What are key features of this property?
This property features: Vacant 12,750 SF medical office building offering immediate occupancy.; Strong medical adjacency to Baylor Scott & White Family Medical Center.; Excellent regional connectivity with direct access to Interstate 30 and State Highway 360.
