Medical Office Building For
For Sale
Contact for pricing
523 W Wheatland Rd, Duncanville, TX
Medical office building featuring multiple exam rooms and office spaces.
Property Size3,675 SF
Lot Size0.46 Acres
Price / SF$176.87
Days on Market467
Property Features for 523 W Wheatland Rd
General Information
Standard status
Active
Size
3,675 SF
Lot size
0.46 Acres
Property subtype
OFFICE
Listing Agency:
Mote & Associates Commercial Real Estate
(972) 296-2856
Listed By:
Justin Clark
(972) 827-8902
Source:
Moodyscre
Added: May 30, 2025
Changed: Aug 15
Last Checked: Sep 7 at 11:59AM
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 Mote & Associates Commercial Real Estate
Investment Insights
Based on property information with market context.
This building, constructed in 1979, is situated on a lot of approximately 0.469 acres. The property encompasses 3,675 square feet and features two large waiting or reception areas equipped with nurse stations. It includes two doctor's offices, six exam rooms, and two multi-stall bathrooms. Additional amenities include a break room, a janitorial closet, and two small storage closets. This property is intended for use as a medical office.
Key Highlights
- Turnkey medical office space with 6 exam rooms, 2 doctor offices, and nurse stations.
- Features two large waiting/reception areas.
- Includes essential amenities: break room, janitorial closet, and storage.
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
$52,251
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
8.04%
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%
$1,045,020
$1.0M
Cap Rate 7%
$746,443
$746.4K
Cap Rate 9%
$580,567
$580.6K
Market Conditions
NOI Build-Up for 3,675 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
$95.7K $26.04/SF
− Vacancy
−$8.6K −$2.34/SF
EGI
$87.1K $23.70/SF
− OpEx
−$34.8K −$9.48/SF
NOI
$52.3K $14.22/SF
Area
Dallas County, TX
Vacancy
9.00%
Lease Rate
$26.04 /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%
$1,045,020
Cap Rate 7%
$746,443
Cap Rate 9%
$580,567
Alternative Uses
Best Use
Healthcare Medical
$746.4K
$653.1K – $870.9K
NOI $52,251 @ 7.0% cap · market cap 8.04%
Second Best
Office B
$744.2K
$651.2K – $868.2K
NOI $52,093 @ 7.0% cap · market cap 8.01%
Theoretical Best
Multifamily LT 5
$44.05M
$38.54M – $51.39M
NOI $3,083,566 @ 7.0% cap · market cap 474.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,325
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building featuring multiple exam rooms and office spaces.
Where is this medical office space located?
The property is located at 523 W Wheatland Rd Duncanville, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Turnkey medical office space with **6 exam rooms, 2 doctor offices, and nurse stations.**; Features **two large waiting/reception areas.**; Includes essential amenities: break room, janitorial closet, and storage.
