NNN Medical Office
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For Sale
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404 River Pointe Dr, Conroe, TX 77304
Long-term NNN tenancy supports an income-producing healthcare-related asset near major regional access routes.
Property Size9,000 SF
Price / SF$388.89
Days on Market4
Property Features for 404 River Pointe Dr
General Information
Standard status
Active
Size
9,000 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Hunington Properties Inc.
Listed By:
Sandy Aron · License #218898
(713) 623-6944
Source:
Moodyscre
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 3:26PM
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 Hunington Properties Inc.
Investment Insights
Based on property information with market context.
This 9,000-square-foot NNN property is leased to a major hospital system through 2037, providing a long-term healthcare-related tenancy. The asset is positioned adjacent to HCA Houston Healthcare, whose campus includes 1,100 employees.
The property is located on the southwest side of Conroe near South Loop 336, approximately 1 mile west of I-45. Its location places the asset within an established healthcare setting with direct proximity to a major hospital facility.
The property is located on the southwest side of Conroe near South Loop 336, approximately 1 mile west of I-45. Its location places the asset within an established healthcare setting with direct proximity to a major hospital facility.
Key Highlights
- 9,000‑square‑foot NNN property
- NNN lease extends through 2037
- Adjacent to HCA Houston Healthcare
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
$133,167
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
3.80%
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%
$2,663,340
$2.7M
Cap Rate 7%
$1,902,386
$1.9M
Cap Rate 9%
$1,479,633
$1.5M
Market Conditions
NOI Build-Up for 9,000 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
$266.8K $29.64/SF
− Vacancy
−$44.8K −$4.98/SF
EGI
$221.9K $24.66/SF
− OpEx
−$88.8K −$9.86/SF
NOI
$133.2K $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%
$2,663,340
Cap Rate 7%
$1,902,386
Cap Rate 9%
$1,479,633
Alternative Uses
Best Use
Healthcare Medical
$1.90M
$1.66M – $2.22M
NOI $133,167 @ 7.0% cap · market cap 3.80%
Second Best
Office B
$1.51M
$1.32M – $1.76M
NOI $105,511 @ 7.0% cap · market cap 3.01%
Theoretical Best
Specialty Retail
$2.27M
$1.99M – $2.65M
NOI $159,045 @ 7.0% cap · market cap 4.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,474
Businesses Nearby
Explore this area
Business Placement
Demographics for 77304, TX
35,969
Population
18,462
Households
1.9
Avg Household Size
38
Median Age
42%
College-Educated
93%
High-School Grad
40.0 sq mi
ZIP Area
899
Density / Sq Mi
$78,574
Median Household Income
$43,314
Median Earnings
$1,397
Median Rent
$324,800
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?
NNN property - Long-term NNN tenancy supports an income-producing healthcare-related asset near major regional access routes.
Where is this nnn property located?
The property is located at 404 River Pointe Dr Conroe, TX.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 9,000‑square‑foot NNN property; NNN lease extends through 2037; Adjacent to HCA Houston Healthcare
