Flower Mound Medical Office
For Sale
$1,590,000
2321 Olympia Drive, Flower Mound, TX 75028
Freestanding medical office building in a desirable Flower Mound location.
Property Size5,147 SF
Price / SF$308.92
Days on Market274
Property Features for 2321 Olympia Drive
General Information
Standard status
Active
Size
5,147 SF
Class
B
Property subtype
Office
Building Details
Building Size
5,147 SF
Year Built
2006
Listing Agency:
(972) 765-0886
Listed By:
Matt Matthews, MBA, CCIM
(972) 765-0886
Source:
Svntrinity
Added: Nov 21, 2025
Changed: Aug 15
Last Checked: Aug 22 at 3:41AM
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 Matt Matthews, MBA, CCIM
Investment Insights
Based on property information with market context.
This is a 5,147 square foot freestanding medical office building constructed in 2006, situated on 0.52 acres. The property is located in Flower Mound, near the intersection of FM 2499 and FM 1171, offering proximity to major thoroughfares, healthcare facilities, and retail amenities. It is also located minutes from The River Walk at Central Park, a mixed-use development featuring medical offices, restaurants, and residential offerings. The building is fully built-out and ready for immediate occupancy, offering functional space for healthcare operations.
Key Highlights
- Fully built‑out 5,147 SF medical office ready for immediate occupancy.
- Located in a desirable and accessible Flower Mound submarket.
- Exceptional proximity to major thoroughfares (FM 2499 and FM 1171).
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
$71,569
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
4.50%
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%
$1,431,380
$1.4M
Cap Rate 7%
$1,022,414
$1.0M
Cap Rate 9%
$795,211
$795.2K
Market Conditions
NOI Build-Up for 5,147 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
$127.2K $24.72/SF
− Vacancy
−$31.8K −$6.18/SF
EGI
$95.4K $18.54/SF
− OpEx
−$23.9K −$4.64/SF
NOI
$71.6K $13.91/SF
Area
Denton County, TX
Vacancy
25.00%
Lease Rate
$24.72 /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%
$1,431,380
Cap Rate 7%
$1,022,414
Cap Rate 9%
$795,211
Alternative Uses
Best Use
Office B
$1.02M
$894.6K – $1.19M
NOI $71,569 @ 7.0% cap · market cap 4.50%
Second Best
Healthcare Medical
$995.0K
$870.6K – $1.16M
NOI $69,651 @ 7.0% cap · market cap 4.38%
Theoretical Best
Multifamily LT 5
$71.98M
$62.98M – $83.97M
NOI $5,038,448 @ 7.0% cap · market cap 316.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,535
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75028, TX
46,830
Population
18,189
Households
2.6
Avg Household Size
40
Median Age
62%
College-Educated
98%
High-School Grad
15.6 sq mi
ZIP Area
3,002
Density / Sq Mi
$147,040
Median Household Income
$72,270
Median Earnings
$2,233
Median Rent
$458,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding medical office building in a desirable Flower Mound location.
Where is this medical office space located?
The property is located at 2321 Olympia Drive Flower Mound, TX.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Fully built‑out 5,147 SF medical office ready for immediate occupancy.; Located in a desirable and accessible Flower Mound submarket.; Exceptional proximity to major thoroughfares (FM 2499 and FM 1171).
