Leased Medical Office
For Sale
$2,483,000
2570 Northshore Boulevard, Flower Mound, TX 75028
Fully leased medical office building with two tenants on NNN-style pro-rata expense responsibilities.
Property Size6,425 SF
Days on Market115
Property Features for 2570 Northshore Boulevard
General Information
Standard status
Active
Size
6,425 SF
Class
B
Property subtype
Office
Occupancy
100%
Building Details
Building Size
6,425 SF
Tenancy
Multi
Listing Agency:
SVN | Trinity Advisors
Listed By:
James Blake, CCIM · License #TX #340987
(817) 288-5508
Source:
Svn
Added: May 14
Changed: Aug 31
Last Checked: Sep 4 at 3:53AM
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 SVN | Trinity Advisors
Investment Insights
Based on property information with market context.
This medical office investment opportunity is fully occupied and leased to two essential medical providers: Southern Veterinary Partners and Bowen Eye Care (MyEyeDr.). The property has long-term tenancy anchored by a lease with Southern Veterinary Partners that expires on October 31, 2036.
Both tenants operate on NNN-style leases, with each tenant responsible for its 50% pro-rata share of real estate taxes, insurance, and common area maintenance. The latest lease amendment deleted MyEyeDr.’s right of first refusal, supporting a straightforward sale process.
For buyers seeking a stabilized, income-producing medical office asset, the building’s current occupancy and long-term lease structure provide an established operating profile tied to these two tenants.
Both tenants operate on NNN-style leases, with each tenant responsible for its 50% pro-rata share of real estate taxes, insurance, and common area maintenance. The latest lease amendment deleted MyEyeDr.’s right of first refusal, supporting a straightforward sale process.
For buyers seeking a stabilized, income-producing medical office asset, the building’s current occupancy and long-term lease structure provide an established operating profile tied to these two tenants.
Key Highlights
- Fully leased medical office building with two tenants: Southern Veterinary Partners and Bowen Eye Care (MyEyeDr.)
- Southern Veterinary Partners has a new long‑term lease expiring October 31, 2036
- Both tenants are on NNN‑style leases with shared pro‑rata responsibility for Real Estate Taxes, Insurance, and Common Area Maintenance
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
$89,340
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
3.60%
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%
$1,786,800
$1.8M
Cap Rate 7%
$1,276,286
$1.3M
Cap Rate 9%
$992,667
$992.7K
Market Conditions
NOI Build-Up for 6,425 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
$158.8K $24.72/SF
− Vacancy
−$39.7K −$6.18/SF
EGI
$119.1K $18.54/SF
− OpEx
−$29.8K −$4.64/SF
NOI
$89.3K $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%
$1,786,800
Cap Rate 7%
$1,276,286
Cap Rate 9%
$992,667
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.49M
NOI $89,340 @ 7.0% cap · market cap 3.60%
Second Best
Healthcare Medical
$1.24M
$1.09M – $1.45M
NOI $86,946 @ 7.0% cap · market cap 3.50%
Theoretical Best
Multifamily LT 5
$89.85M
$78.62M – $104.82M
NOI $6,289,495 @ 7.0% cap · market cap 253.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Under-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.
Similar Off Market Nearby
- Karen Matlock, DVM — 2570 Northshore Blvd #100, Flower Mound, TX 75028
- Marc Cattoor, DVM — 2570 Northshore Blvd, Flower Mound, TX 75028
- South Flower Mound Animal Hospital — 2570 Northshore Blvd #100, Flower Mound, TX 75028
Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased medical office building with two tenants on NNN-style pro-rata expense responsibilities.
Where is this medical office space located?
The property is located at 2570 Northshore Boulevard Flower Mound, TX.
What is the asking price?
The asking price for this property is $2,483,000.
What are key features of this property?
This property features: Fully leased medical office building with two tenants: Southern Veterinary Partners and Bowen Eye Care (MyEyeDr.); Southern Veterinary Partners has a new long‑term lease expiring October 31, 2036; Both tenants are on NNN‑style leases with shared pro‑rata responsibility for Real Estate Taxes, Insurance, and Common Area Maintenance
