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    Corner Lot Medical Office Title is generated by Realmo AI

    416 S Morgan Street, Granbury, TX 76048

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    For Sale
    $425,000

    SINGLE_FAMILY - Granbury, TX

    Type:Office
    Lot size:
    0.24 Acres
    Added:
    May 22, 2026
    Days on Market:
    14
    Last Refresh:
    Jun 4 at 4:06 pm

    Property Features for 416 S Morgan Street

    General Information

    Property type
    Residential
    Property subtype
    Office
    Parking features
    Open, Garage, Parking Lot
    Security features
    Security
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    R000037472
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 0.241 LOT: 1 BLK: 3 SUBD: LAMBERT
    Tax Annual Amount
    2956

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1968
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Carpet, Tile, Wood
    Building materials
    Brick
    Roof type
    Composition

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    Listing Contact
    Wendy Rape
    Wendy Rape

    Listing agent Wendy Rape

    Listing office Magnolia Realty Granbury, TX

    Listing date May 22, 2026

    MLS# 21223671

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Corner‑lot office space near Hwy 377 in Granbury, less than 1 minute from the highway and about 5 minutes from downtown
    • Move‑in ready therapy office layout with reception area, built‑in desk and counter, four private offices, and a sitting/flex room
    • Kitchenette with sink, counter space, and cabinetry plus dedicated storage room and additional storage areas
    • Accessible features include an accessible approach with ramp and railing for ADA‑compliant access
    • Two separate parking areas for clients and staff; parking options include open parking and a garage
    • Built in 1968 with brick exterior; central heating and central air, with carpet, tile, and wood flooring and a composition roof

    Overview

    This move-in ready medical-professional office offers a flexible, therapy-style layout designed for patient-facing or client-service operations. The interior includes a welcoming reception area with a built-in desk and counter, four private offices, and a dedicated sitting room or flex space. A kitchenette with sink, counter space, and cabinetry supports day-to-day use, while a storage room and additional storage areas help keep operations organized. ADA-compliant accessibility is supported by a handicap-accessible ramp and railing, and the property includes two separate parking areas for clients and staff.

    Located on a prominent corner lot at the intersection of Morgan and Elizabeth Streets in Granbury, the property provides convenient access just minutes from downtown. It sits less than one minute from Hwy 377, supporting visibility and easy approach for clients while maintaining a quieter setting away from main traffic flow. The surrounding area includes a growing concentration of medical offices, with Lake Granbury Hospital nearby.

    For owner-users or investors, the space is well-suited beyond therapy, with a configuration that can support medical, counseling, and other professional uses such as real estate, legal, construction-related business needs, or general office operations. Its accessible improvements, multiple exam/office rooms, and practical reception and storage setup make it a dependable option for a range of tenant profiles seeking a turnkey professional environment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Amy Aston Counseling Crisis Center

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Acton Veterinary Group — 1901 S Morgan St, Granbury, TX 76048
    • Morgan Street Animal Hospital — 1901 S Morgan St, Granbury, TX 76048

    Location Insight

    • Map
    • Local Demand
    City
    Granbury
    County
    Hood
    State
    Texas
    Longitude
    -97.794688
    Latitude
    32.438501

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    FAQs

    What type of property is this?
    Medical Office Space - Move-in ready therapy-oriented office with ADA access, private offices, and ample parking for clients and staff.
    Where is this medical office space located?
    The property is located at 416 S Morgan Street Granbury, TX.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Corner‑lot office space near Hwy 377 in Granbury, less than 1 minute from the highway and about 5 minutes from downtown; Move‑in ready therapy office layout with reception area, built‑in desk and counter, four private offices, and a sitting/flex room; Kitchenette with sink, counter space, and cabinetry plus dedicated storage room and additional storage areas
    (817) 913-0113
    We can help!
    Listing Contact
    Wendy Rape
    Wendy Rape
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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