Built-Out Medical Office with Second
For Sale
Contact for pricing
303 Longmire Rd Suite 301, Conroe, TX 77304
Clinical layout includes reception, plumbed exam rooms, administrative areas, restrooms, and a staff breakroom.
Property Size2,738 SF
Price / SF$310.08
Days on Market122
Property Features for 303 Longmire Rd Suite 301
General Information
Standard status
Active
Size
2,738 SF
Property subtype
Office
Investment Type
Owner/User
Building Details
Stories
2
Tenancy
Single
Listing Agency:
Blavesco Ltd
(936) 672-7671
Listed By:
Heather Carlile · License #TX 0443914
Source:
Crexi
Added: May 1
Changed: Aug 29
Last Checked: Aug 29 at 7:43PM
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 Blavesco Ltd
Investment Insights
Based on property information with market context.
This 2,738-square-foot medical office at 303 Longmire Rd, Suite 301, provides a completed clinical layout with reception and waiting areas, multiple exam rooms with plumbing, administrative workspace, restrooms, and a staff breakroom. Interior details include wood flooring, cabinetry, and substantial natural light.
A full second level adds a bathroom with shower and a kitchenette, providing additional usable space for quarters, meetings, storage, or office functions. The property also carries a potential leaseback through July 2027, subject to the applicable arrangement.
A full second level adds a bathroom with shower and a kitchenette, providing additional usable space for quarters, meetings, storage, or office functions. The property also carries a potential leaseback through July 2027, subject to the applicable arrangement.
Key Highlights
- 2,738‑square‑foot medical office at 303 Longmire Rd, Suite 301
- Multiple exam rooms with plumbing, reception, waiting, administrative, and staff areas
- Full second level with bathroom, shower, and kitchenette
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
$40,512
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
4.77%
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%
$810,240
$810.2K
Cap Rate 7%
$578,743
$578.7K
Cap Rate 9%
$450,133
$450.1K
Market Conditions
NOI Build-Up for 2,738 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
$81.2K $29.64/SF
− Vacancy
−$13.6K −$4.98/SF
EGI
$67.5K $24.66/SF
− OpEx
−$27.0K −$9.86/SF
NOI
$40.5K $14.80/SF
Area
Montgomery County, TX
Vacancy
16.80%
Lease Rate
$29.64 /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%
$810,240
Cap Rate 7%
$578,743
Cap Rate 9%
$450,133
Alternative Uses
Best Use
Healthcare Medical
$578.7K
$506.4K – $675.2K
NOI $40,512 @ 7.0% cap · market cap 4.77%
Second Best
Office B
$458.6K
$401.2K – $535.0K
NOI $32,099 @ 7.0% cap · market cap 3.78%
Theoretical Best
Specialty Retail
$691.2K
$604.8K – $806.4K
NOI $48,385 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
899
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77304, TX
35,969
Population
18,462
Households
1.9
Avg Household Size
38
Median Age
42%
College-Educated
93%
High-School Grad
40.0 sq mi
ZIP Area
899
Density / Sq Mi
$78,574
Median Household Income
$43,314
Median Earnings
$1,397
Median Rent
$324,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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- Dr. Dorie Lynne — 3411 W Davis St, Conroe, TX 77304
- Zinser Heidi DVM — 3411 W Davis St, Conroe, TX 77304
Frequently Asked Questions
What type of property is this?
Medical Office Space - Clinical layout includes reception, plumbed exam rooms, administrative areas, restrooms, and a staff breakroom.
Where is this medical office space located?
The property is located at 303 Longmire Rd Suite 301 Conroe, TX.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 2,738‑square‑foot medical office at 303 Longmire Rd, Suite 301; Multiple exam rooms with plumbing, reception, waiting, administrative, and staff areas; Full second level with bathroom, shower, and kitchenette
