Single-Story Medical
For Sale
Contact for pricing
5703 MARTIN LUTHER KING BLVD, Houston, TX 77021
Efficient single-story layout with surface parking supports convenient access for patients and staff.
Property Size5,429 SF
Lot Size0.52 Acres
Price / SF$179.59
Days on Market169
Property Features for 5703 MARTIN LUTHER KING BLVD
General Information
Standard status
Active
Size
5,429 SF
Lot size
0.52 Acres
Property subtype
Office, Mixed Use
Zoning
Not Zoned
Occupancy
100%
Lease Type
NNN
Building Details
Year Built
1961
Year Renovated
2017
Buildings
1
Stories
1
Units
1
Tenancy
Single
Building Size
5,429 SF
Listing Agency:
The Ambrose Group
Listed By:
Brandon Brooks · License #TX- 0639787
Source:
Crexi
Added: May 7
Changed: Oct 8
Last Checked: Oct 20 at 7:54PM
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 The Ambrose Group
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Investment Insights
Based on property information with market context.
This single-tenant medical office property provides 5,429 square feet within a single-story building on approximately 0.52 acres. The layout is described as functional and efficient, with flexibility for outpatient healthcare or professional office configurations. Surface parking is available on the site for patients and staff.
Constructed in 1961, the building is located at 5703 Martin Luther King Blvd in Houston, Texas. The property is identified as not zoned and is positioned for continued medical office use or repositioning within a healthcare-oriented commercial setting.
Constructed in 1961, the building is located at 5703 Martin Luther King Blvd in Houston, Texas. The property is identified as not zoned and is positioned for continued medical office use or repositioning within a healthcare-oriented commercial setting.
Key Highlights
- 5,429 SF single‑story medical office building
- Approximately 0.52 acres
- Built in 1961
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,878
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,477,560
$1.5M
Cap Rate 7%
$1,055,400
$1.1M
Cap Rate 9%
$820,867
$820.9K
Market Conditions
NOI Build-Up for 5,429 SF
Gross rent
$136.8K $25.20/SF
− Vacancy
−$13.7K −$2.52/SF
EGI
$123.1K $22.68/SF
− OpEx
−$49.3K −$9.07/SF
NOI
$73.9K $13.61/SF
Area
Houston, TX
Vacancy
10.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,477,560
Cap Rate 7%
$1,055,400
Cap Rate 9%
$820,867
Alternative Uses
Best Use
Healthcare Medical
$1.06M
$923.5K – $1.23M
NOI $73,878 @ 7.0% cap · market cap 7.58%
Second Best
Office B
$904.6K
$791.6K – $1.06M
NOI $63,324 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,722 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 77021, TX
28,055
Population
12,819
Households
2.2
Avg Household Size
36
Median Age
34%
College-Educated
87%
High-School Grad
6.1 sq mi
ZIP Area
4,599
Density / Sq Mi
$45,034
Median Household Income
$38,041
Median Earnings
$1,193
Median Rent
$203,900
Median Home Value
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Market
Vacancy Rate% for Office in Houston, TX
Frequently Asked Questions
What type of property is this?
Medical Office Space - Efficient single-story layout with surface parking supports convenient access for patients and staff.
Where is this medical office space located?
The property is located at 5703 MARTIN LUTHER KING BLVD Houston, TX.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 5,429 SF single‑story medical office building; Approximately 0.52 acres; Built in 1961
