Medical Office Building with Multiple
For Sale
Contact for pricing
401 W Centerville Rd, Garland, TX 75041
Medical/professional office building with multiple suites, recent roof and HVAC upgrades, and strong visibility on a major thoroughfare.
Property Size7,200 SF
Lot Size0.76 Acres
Price / SF$185
Days on Market53
Property Features for 401 W Centerville Rd
General Information
Standard status
Active
Size
7,200 SF
Total Parking Spaces
40
Lot size
0.76 Acres
Property subtype
OFFICE
Occupancy
50%
Building Details
Buildings
1
Building Size
7,200 SF
Tenancy
Multi
Listing Agency:
Colliers | Dallas
(859) 907-2006
Listed By:
Geoff Ficke · License #0593051
(859) 907-2006
Source:
Moodyscre
Added: Jun 8
Changed: Jul 30
Last Checked: Jul 30 at 4:53AM
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 Colliers | Dallas
Investment Insights
Based on property information with market context.
The Centerville Professional Building is a 7,200 SF medical/professional office building configured into multiple suites, offering flexible space for a range of medical, office, or service-oriented uses. The property sits on approximately 0.76 acres and provides about 40 parking spaces. As of the current configuration, the building is 50% occupied.
Located at 401 W Centerville Rd in Garland, Texas, the building benefits from strong visibility along a major thoroughfare, with traffic counts exceeding 42,300 vehicles per day. This setting supports convenient access and day-to-day customer traffic for tenants.
Recent capital improvements include a new roof and HVAC system, helping reduce near-term capital needs and supporting readiness for lease-up or repositioning.
Located at 401 W Centerville Rd in Garland, Texas, the building benefits from strong visibility along a major thoroughfare, with traffic counts exceeding 42,300 vehicles per day. This setting supports convenient access and day-to-day customer traffic for tenants.
Recent capital improvements include a new roof and HVAC system, helping reduce near-term capital needs and supporting readiness for lease-up or repositioning.
Key Highlights
- 7,200 SF medical/professional office building configured into multiple suites
- Approximately 0.76‑acre site with about 40 parking spaces
- Visibility along a major thoroughfare with traffic counts exceeding 42,300 vehicles per day
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $179.7k | $24.96 |
| − Vacancy | −$18.0k | −$2.50 |
| EGI | $161.7k | $22.46 |
| − OpEx | −$64.7k | −$8.99 |
| NOI | $97.0k | $13.48 |
7,200 SF · lease $24.96/SF/yr · vacancy 10.00% · expense 40.00%
Alternative Uses
Best Use
Office B
$5.91M
$5.17M – $6.89M
NOI $413,453 @ 7.0% cap · market cap 31.04%
Second Best
Healthcare Medical
$1.39M
$1.21M – $1.62M
NOI $97,044 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$8.64M
$7.56M – $10.08M
NOI $604,759 @ 7.0% cap · market cap 45.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
50%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,070
Businesses Nearby
Explore this area
Business Placement
Demographics for 75041, TX
32,219
Population
10,378
Households
3.1
Avg Household Size
33
Median Age
15%
College-Educated
70%
High-School Grad
7.9 sq mi
ZIP Area
4,078
Density / Sq Mi
$68,692
Median Household Income
$35,027
Median Earnings
$1,368
Median Rent
$214,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Medical/professional office building with multiple suites, recent roof and HVAC upgrades, and strong visibility on a major thoroughfare.
Where is this office building located?
The property is located at 401 W Centerville Rd Garland, TX.
What is the asking price?
The asking price for this property is $1,332,000.
What are key features of this property?
This property features: 7,200 SF medical/professional office building configured into multiple suites; Approximately 0.76‑acre site with about 40 parking spaces; Visibility along a major thoroughfare with traffic counts exceeding 42,300 vehicles per day
