Medical Office Building with 10-Foot Wall
For Sale
Contact for pricing
23219 Red River Dr, Katy, TX 77494
Newer medical office built in 2021 with central HVAC, brick exterior, and 100% finished interior.
Property Size1,772 SF
Price / SF$338.04
Days on Market14
Property Features for 23219 Red River Dr
General Information
Standard status
Active
Size
1,772 SF
Property subtype
OFFICE
Listing Agency:
eXp Realty
(832) 216-8524
Listed By:
Rachel Gonzalez-Dunham, CCIM
(832) 216-8524
Source:
Moodyscre
Added: Jul 17
Changed: Jul 30
Last Checked: Jul 30 at 2:57AM
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 eXp Realty
Investment Insights
Based on property information with market context.
23219 Red River Dr is a 1,772 SF medical office building built in 2021 with a modern medical office layout and 100% finished interior. The brick exterior property includes central HVAC and approximately 10-foot wall heights, supporting a flexible, professional setting for healthcare and related office use.
The building sits on a 6,289 SF lot (0.1444 acres). It is located in the Katy / Grand Parkway / Kingsland area with convenient access to the Grand Parkway (SH-99) and surrounding residential communities, retail centers, restaurants, and professional services.
Designed as a newer medical office asset, the space is suited for healthcare providers and professional office users looking for a ready-to-occupy environment with interior finish already in place.
The building sits on a 6,289 SF lot (0.1444 acres). It is located in the Katy / Grand Parkway / Kingsland area with convenient access to the Grand Parkway (SH-99) and surrounding residential communities, retail centers, restaurants, and professional services.
Designed as a newer medical office asset, the space is suited for healthcare providers and professional office users looking for a ready-to-occupy environment with interior finish already in place.
Key Highlights
- 1,772 SF medical office building built in 2021
- 6,289 SF lot (0.1444 acres)
- Brick exterior construction
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.5k | $29.64 |
| − Vacancy | −$3.4k | −$1.93 |
| EGI | $49.1k | $27.71 |
| − OpEx | −$19.6k | −$11.09 |
| NOI | $29.5k | $16.63 |
1,772 SF · lease $29.64/SF/yr · vacancy 6.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$420.9K
$368.3K – $491.1K
NOI $29,465 @ 7.0% cap · market cap 4.92%
Second Best
Office B
$352.3K
$308.3K – $411.0K
NOI $24,662 @ 7.0% cap · market cap 4.12%
Theoretical Best
Multifamily LT 5
$22.07M
$19.32M – $25.75M
NOI $1,545,235 @ 7.0% cap · market cap 257.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
857
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77494, TX
130,872
Population
44,520
Households
2.9
Avg Household Size
35
Median Age
66%
College-Educated
96%
High-School Grad
37.9 sq mi
ZIP Area
3,453
Density / Sq Mi
$146,105
Median Household Income
$68,773
Median Earnings
$2,044
Median Rent
$450,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Veterinary Emergency Group — 1370 W Grand Pkwy S, Katy, TX 77494
Frequently Asked Questions
What type of property is this?
Medical Office Space - Newer medical office built in 2021 with central HVAC, brick exterior, and 100% finished interior.
Where is this medical office space located?
The property is located at 23219 Red River Dr Katy, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1,772 SF medical office building built in 2021; 6,289 SF lot (0.1444 acres); Brick exterior construction
