Long-Term Acute Care
For Sale
Contact for pricing
505 Graham Drive, Tomball, TX 77375
Existing healthcare facility with GR zoning and multiple documented repositioning options.
Property Size77,804 SF
Lot Size6.00 Acres
Price / SF$98.97
Days on Market97
Property Features for 505 Graham Drive
General Information
Standard status
Active
Size
77,804 SF
Lot size
6.00 Acres
Property subtype
Office
Zoning
GR
Lease Type
NNN
Building Details
Year Built
2006
Listing Agency:
Newmark Knight Frank
Listed By:
Michael Schwartz · License #769039
Source:
Crexi
Added: Jul 31
Changed: Oct 25
Last Checked: Nov 3 at 6:06AM
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 Newmark Knight Frank
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Investment Insights
Based on property information with market context.
Built in 2006, this long-term acute care hospital occupies approximately six (6) acres at 505 Graham Drive in Tomball, Texas. The property includes 77,804 in reported property size and is zoned GR.
The existing facility can be repositioned for several healthcare applications identified in the property information, including inpatient rehabilitation, surgical hospital operations, skilled nursing, assisted living or memory care, acute psychiatric care, behavioral health, and medical office use. Its established hospital configuration provides a base for evaluating these alternatives within a single healthcare-oriented property.
The existing facility can be repositioned for several healthcare applications identified in the property information, including inpatient rehabilitation, surgical hospital operations, skilled nursing, assisted living or memory care, acute psychiatric care, behavioral health, and medical office use. Its established hospital configuration provides a base for evaluating these alternatives within a single healthcare-oriented property.
Key Highlights
- Long‑term acute care hospital built in 2006
- Approximately six (6) acres
- 77,804 reported property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$515,843
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,316,860
$10.3M
Cap Rate 7%
$7,369,186
$7.4M
Cap Rate 9%
$5,731,589
$5.7M
Market Conditions
NOI Build-Up for 77,804 SF
Gross rent
$1.04M $13.32/SF
− Vacancy
−$98.5K −$1.27/SF
EGI
$937.9K $12.05/SF
− OpEx
−$422.1K −$5.42/SF
NOI
$515.8K $6.63/SF
Area
Harris County, TX
Vacancy
9.50%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,316,860
Cap Rate 7%
$7,369,186
Cap Rate 9%
$5,731,589
Alternative Uses
Best Use
Healthcare Medical
$17.48M
$15.29M – $20.39M
NOI $1,223,273 @ 7.0% cap · market cap 15.89%
Second Best
Apartment 5plus
$7.37M
$6.45M – $8.60M
NOI $515,843 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$21.24M
$18.59M – $24.79M
NOI $1,487,115 @ 7.0% cap · market cap 19.31%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,094
Businesses Nearby
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Business Placement
Demographics for 77375, TX
65,365
Population
25,452
Households
2.6
Avg Household Size
34
Median Age
41%
College-Educated
92%
High-School Grad
35.2 sq mi
ZIP Area
1,857
Density / Sq Mi
$95,813
Median Household Income
$57,735
Median Earnings
$1,495
Median Rent
$287,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Hospital - Existing healthcare facility with GR zoning and multiple documented repositioning options.
Where is this hospital located?
The property is located at 505 Graham Drive Tomball, TX.
What is the asking price?
The asking price for this property is $7,700,000.
What are key features of this property?
This property features: Long‑term acute care hospital built in 2006; Approximately six (6) acres; 77,804 reported property size
