Medical/Physical Therapy Office For
For Sale
$1,105,650
3930 Naaman School Rd Ste C, Garland, TX 75040
Second-generation medical office space with exam and X-ray rooms.
Property Size2,835 SF
Price / SF$390
Days on Market176
Property Features for 3930 Naaman School Rd Ste C
General Information
Standard status
Active
Size
2,835 SF
Property subtype
Office
Building Details
Year Built
2005
Listing Agency:
(214) 228-0611
Listed By:
Nathan Denton, SIOR
(214) 228-0611
Source:
Lee-associates
Added: Mar 6
Changed: Jul 6
Last Checked: Aug 29 at 6:04AM
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 Nathan Denton, SIOR
Investment Insights
Based on property information with market context.
This property offers a second-generation medical or physical therapy space. The office space measures approximately 2,835 square feet and includes eight exam rooms, one X-ray room, and a breakroom. It also features two restrooms and one shower.
Key Highlights
- Second generation medical/physical therapy space
- Equipped with 8 exam rooms
- Includes an X‑ray room
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
$38,211
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
3.46%
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%
$764,220
$764.2K
Cap Rate 7%
$545,871
$545.9K
Cap Rate 9%
$424,567
$424.6K
Market Conditions
NOI Build-Up for 2,835 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
$70.8K $24.96/SF
− Vacancy
−$7.1K −$2.50/SF
EGI
$63.7K $22.46/SF
− OpEx
−$25.5K −$8.99/SF
NOI
$38.2K $13.48/SF
Area
Garland, TX
Vacancy
10.00%
Lease Rate
$24.96 /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%
$764,220
Cap Rate 7%
$545,871
Cap Rate 9%
$424,567
Alternative Uses
Best Use
Office B
$2.33M
$2.03M – $2.71M
NOI $162,797 @ 7.0% cap · market cap 14.72%
Second Best
Healthcare Medical
$545.9K
$477.6K – $636.9K
NOI $38,211 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$3.40M
$2.98M – $3.97M
NOI $238,124 @ 7.0% cap · market cap 21.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Balanced
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Second-generation medical office space with exam and X-ray rooms.
Where is this medical office space located?
The property is located at 3930 Naaman School Rd Ste C Garland, TX.
What is the asking price?
The asking price for this property is $1,105,650.
What are key features of this property?
This property features: Second generation medical/physical therapy space; Equipped with **8 exam rooms**; Includes an **X‑ray room**
