Medical Office Building with
401 West Centerville Road Garland, TX 75041
401 West Centerville Road, Garland, TX, 75041
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For Sale
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Medical and professional suites totaling 7,200 SF with about 40 parking spaces and recent roof and HVAC improvements.
Property Size7,200 SF
Price / SF$183.61
Days on Market78
Property Features for 401 West Centerville Road
General Information
- Standard status
- Active
- Size
- 7,200 SF
- Property subtype
- Retail, Office, Special Purpose
Building Details
- Year Built
- 1972
Listing agency
Colliers - Dallas, Texas
(972) 759-7814
Listed by
Zachary Ficke · License #TX 688207
Source
Crexi
Added: May 5 Updated: Jul 21 at 2:24AM Checked: Jul 21 at 2:24AM
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, Texas
Investment Insights
Based on property information with market context.
The Centerville Professional Building is a 7,200-square-foot medical and professional office asset configured into multiple suites. The property is currently 50% occupied and includes approximately 3,600 square feet available. Recent capital improvements include a new roof and HVAC system, supporting reduced near-term capital needs.
The building is located at 401 W Centerville Rd in Garland, Texas, situated on approximately 0.76 acres with roughly 40 parking spaces. The property is described as having strong visibility along a major thoroughfare with traffic counts exceeding 42,300 vehicles per day.
With a mix of medical and service-oriented tenancy, the existing rent structure is tied to NNN leases while maintaining below-market rental rates, according to the seller’s remarks. This creates multiple pathways for value creation through lease-up and/or mark-to-market adjustments, depending on ownership goals.
The building is located at 401 W Centerville Rd in Garland, Texas, situated on approximately 0.76 acres with roughly 40 parking spaces. The property is described as having strong visibility along a major thoroughfare with traffic counts exceeding 42,300 vehicles per day.
With a mix of medical and service-oriented tenancy, the existing rent structure is tied to NNN leases while maintaining below-market rental rates, according to the seller’s remarks. This creates multiple pathways for value creation through lease-up and/or mark-to-market adjustments, depending on ownership goals.
Key Highlights
- 7,200 SF medical/professional office building built in 1972 at 401 W Centerville Rd in Garland, TX
- Approximately 0.76 acres with ~40 parking spaces
- Traffic counts exceed 42,300 vehicles per day along a major thoroughfare
Local Financial Insights For Retail
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 | $173.7k | $24.12 |
| − Vacancy | −$8.2k | −$1.13 |
| EGI | $165.5k | $22.99 |
| − OpEx | −$49.7k | −$6.90 |
| NOI | $115.9k | $16.09 |
7,200 SF · lease $24.12/SF/yr · vacancy 4.70% · expense 30.00%
Alternative Uses
Best Use
Office B
$5.91M
$5.17M – $6.89M
NOI $413,453 @ 7.0% cap · market cap 31.27%
Second Best
Specialty Retail
$1.77M
$1.55M – $2.07M
NOI $123,996 @ 7.0% cap · market cap 9.38%
Theoretical Best
Office A
$8.64M
$7.56M – $10.08M
NOI $604,759 @ 7.0% cap · market cap 45.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Garland Family Eye ...
Physician
Centro De Pediatria ...
Pediatrician
Edward Jones - Financial ...
Financial Advisor
Texans Health and Wellness
Medical Clinic
Centro De Pediatria ...
Physician
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FAQs
What type of property is this?
Office units - Medical and professional suites totaling 7,200 SF with about 40 parking spaces and recent roof and HVAC improvements.
Where is this office units located?
The property is located at 401 West Centerville Road Garland, TX.
What is the asking price?
The asking price for this property is $1,322,000.
What are key features of this property?
This property features: 7,200 SF medical/professional office building built in 1972 at 401 W Centerville Rd in Garland, TX; Approximately 0.76 acres with ~40 parking spaces; Traffic counts exceed 42,300 vehicles per day along a major thoroughfare
