Medical Office Building with
For Sale
Contact for pricing
3320 Lavon Dr, Garland, TX 75040
Freestanding clinic with reception, exam rooms, offices, drive-through infrastructure, and adaptable commercial improvements.
Property Size3,684 SF
Price / SF$678.61
Days on Market132
Property Features for 3320 Lavon Dr
General Information
Standard status
Active
Size
3,684 SF
Class
B
Property subtype
Retail, Special Purpose
Building Details
Year Renovated
2020
Buildings
1
Stories
1
Listing Agency:
GO Real Estate
Listed By:
Ahmed Omar · License #0677126
Source:
Crexi
Added: Apr 21
Changed: Aug 29
Last Checked: Aug 29 at 6:21PM
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 GO Real Estate
Investment Insights
Based on property information with market context.
This freestanding medical office property occupies an approximately 1.35-acre hard-corner site and includes a clinic configuration with reception, exam rooms, and offices. Originally constructed in 1998 as a Chase Bank, the building retains drive-through infrastructure that may support medical, retail, pharmacy, restaurant, financial, or other professional-service operations. An entitlement provides for more than 10,000 SF of potential expansion.
The property fronts TX-78/Lavon Dr and President George Bush Turnpike, with approximately 192 feet along TX-78 and 275 feet along PGBT. Reported traffic volumes are approximately 47,000 VPD on TX-78 and 87,000 VPD on PGBT. On-site parking, professional landscaping, and established ingress and egress support visitor and staff access. The site is adjacent to multifamily development and near Firewheel Town Center, schools, and established retail.
The property fronts TX-78/Lavon Dr and President George Bush Turnpike, with approximately 192 feet along TX-78 and 275 feet along PGBT. Reported traffic volumes are approximately 47,000 VPD on TX-78 and 87,000 VPD on PGBT. On-site parking, professional landscaping, and established ingress and egress support visitor and staff access. The site is adjacent to multifamily development and near Firewheel Town Center, schools, and established retail.
Key Highlights
- Approximately 3,684 SF freestanding medical office building
- Approximately 1.35‑acre hard‑corner site at TX‑78/Lavon Dr and President George Bush Turnpike
- Approximately 192' of frontage on TX‑78 and 275' on PGBT
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
$211,550
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
8.46%
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%
$4,231,000
$4.2M
Cap Rate 7%
$3,022,143
$3.0M
Cap Rate 9%
$2,350,556
$2.4M
Market Conditions
NOI Build-Up for 3,684 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
$377.1K $102.36/SF
− Vacancy
−$95.0K −$25.79/SF
EGI
$282.1K $76.57/SF
− OpEx
−$70.5K −$19.14/SF
NOI
$211.5K $57.42/SF
Area
Garland, TX
Vacancy
25.20%
Lease Rate
$102.36 /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%
$4,231,000
Cap Rate 7%
$3,022,143
Cap Rate 9%
$2,350,556
Alternative Uses
Best Use
Office B
$3.02M
$2.64M – $3.53M
NOI $211,550 @ 7.0% cap · market cap 8.46%
Second Best
Retail
$846.8K
$741.0K – $988.0K
NOI $59,277 @ 7.0% cap · market cap 2.37%
Theoretical Best
Office A
$4.42M
$3.87M – $5.16M
NOI $309,435 @ 7.0% cap · market cap 12.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
753
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75040, TX
64,035
Population
21,629
Households
3
Avg Household Size
36
Median Age
23%
College-Educated
77%
High-School Grad
15.7 sq mi
ZIP Area
4,079
Density / Sq Mi
$73,537
Median Household Income
$39,019
Median Earnings
$1,670
Median Rent
$245,400
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
- Country Brook Animal Hospital — 3046 Lavon Dr #136, Garland, TX 75040
- Petco Vaccination Clinic — 3055 N President George Bush Hwy, Garland, TX 75040
Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding clinic with reception, exam rooms, offices, drive-through infrastructure, and adaptable commercial improvements.
Where is this medical office space located?
The property is located at 3320 Lavon Dr Garland, TX.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Approximately 3,684 SF freestanding medical office building; Approximately 1.35‑acre hard‑corner site at TX‑78/Lavon Dr and President George Bush Turnpike; Approximately 192' of frontage on TX‑78 and 275' on PGBT
