Medical Office Unit For
For Sale
Contact for pricing
31308 Nichols Sawmill Rd, Magnolia, TX 77355
Medical office unit available for purchase, featuring 1,512 square feet.
Property Size1,512 SF
Price / SF$280.93
Days on Market1000
Property Features for 31308 Nichols Sawmill Rd
General Information
Standard status
Active
Size
1,512 SF
Class
A
Property subtype
Office
Lease Type
NNN
Building Details
Year Built
2024
Year Renovated
2024
Buildings
1
Stories
1
Units
1
Tenancy
Multi
Listing Agency:
Aspire Commercial
Listed By:
Jared Starnes · License #827721
Source:
Crexi
Added: Dec 7, 2023
Changed: Sep 1
Last Checked: Sep 1 at 6:58PM
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 Aspire Commercial
Investment Insights
Based on property information with market context.
A 1,512 square foot medical unit is available for sale. This unit is located in Building 7.
Key Highlights
- New construction completed in 2024
- Ideal medical office space for sale
- Unit B available, offering 1,512 sq ft
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
$22,372
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
5.27%
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%
$447,440
$447.4K
Cap Rate 7%
$319,600
$319.6K
Cap Rate 9%
$248,578
$248.6K
Market Conditions
NOI Build-Up for 1,512 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
$44.8K $29.64/SF
− Vacancy
−$7.5K −$4.98/SF
EGI
$37.3K $24.66/SF
− OpEx
−$14.9K −$9.86/SF
NOI
$22.4K $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%
$447,440
Cap Rate 7%
$319,600
Cap Rate 9%
$248,578
Alternative Uses
Best Use
Healthcare Medical
$319.6K
$279.7K – $372.9K
NOI $22,372 @ 7.0% cap · market cap 5.27%
Second Best
Office B
$253.2K
$221.6K – $295.4K
NOI $17,726 @ 7.0% cap · market cap 4.17%
Theoretical Best
Specialty Retail
$381.7K
$334.0K – $445.3K
NOI $26,720 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77355, TX
29,300
Population
11,279
Households
2.6
Avg Household Size
40
Median Age
27%
College-Educated
89%
High-School Grad
55.6 sq mi
ZIP Area
527
Density / Sq Mi
$101,270
Median Household Income
$57,481
Median Earnings
$1,472
Median Rent
$329,700
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.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office unit available for purchase, featuring 1,512 square feet.
Where is this medical office space located?
The property is located at 31308 Nichols Sawmill Rd Magnolia, TX.
What is the asking price?
The asking price for this property is $424,760.
What are key features of this property?
This property features: New construction completed in 2024; Ideal medical office space for sale; Unit B available, offering 1,512 sq ft
