Versatile Office and Medical
602 N Gray Street Caldwell, TX 77836
New
For Sale
$495,000
COMMERCIAL - Caldwell, TX
Property Size3,422 SF
Lot Size0.36 Acres
Price / SF$144.65
Days on Market2
Property Features for 602 N Gray Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Burleson
Standard status
Active
APN
602 Gray 603
Size
3,422 SF
Lot size
0.36 Acres
Building Details
Year built
1971
Flooring type
Tile, Laminate
Roof type
Metal
Listing Agency:
Home & Ranch Real Estate
(979) 272-1759
Listed By:
Melinda Scott · License #527396
(979) 574-9228
Added: Jul 28
Last Checked: Jul 29 at 3:06PM
MLS# 26009590
Copyright © 2026 Bryan-College Station Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located just off Hwy 21 in Caldwell, this property includes a 2,200 SF building with versatile interior space suited for office use, medical use, breakout retail, or private health/beauty/salon booths. The building has previously operated as DRGAC DENTAL and has been used for a family practice for more than 25 years.
The property also features a detached metal building with over 1,200 SF of specialty work rooms, along with a staff break room/kitchette, bathroom, work-out space, and climate-controlled storage. An asphalt parking lot provides parking for staff and guests.
With its combination of flexible main-building space and dedicated specialty workspace, the layout supports multiple commercial configurations within a single site.
The property also features a detached metal building with over 1,200 SF of specialty work rooms, along with a staff break room/kitchette, bathroom, work-out space, and climate-controlled storage. An asphalt parking lot provides parking for staff and guests.
With its combination of flexible main-building space and dedicated specialty workspace, the layout supports multiple commercial configurations within a single site.
Key Highlights
- 2,200 SF building off Hwy 21 in Caldwell, TX with versatile space for office, medical, breakout retail, or health/beauty/salon booths
- Previously operated as DRGAC DENTAL and home to a family practice for over 25 years
- Detached metal building with 1,200+ SF specialty work rooms, plus staff break room/kitchette, bathroom, work‑out space, and climate‑controlled storage
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.9k | $21.00 |
| − Vacancy | −$11.9k | −$3.47 |
| EGI | $60.0k | $17.54 |
| − OpEx | −$15.0k | −$4.38 |
| NOI | $45.0k | $13.15 |
3,422 SF · lease $21.00/SF/yr · vacancy 16.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$642.9K
$562.6K – $750.1K
NOI $45,004 @ 7.0% cap · market cap 9.09%
Second Best
Healthcare Medical
$570.2K
$498.9K – $665.2K
NOI $39,914 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$842.6K
$737.3K – $983.1K
NOI $58,984 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - 2,200 SF building off Hwy 21 with versatile office or medical space and a detached metal specialty workspace.
Where is this office building located?
The property is located at 602 N Gray Street Caldwell, TX.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,200 SF building off Hwy 21 in Caldwell, TX with versatile space for office, medical, breakout retail, or health/beauty/salon booths; Previously operated as DRGAC DENTAL and home to a family practice for over 25 years; Detached metal building with 1,200+ SF specialty work rooms, plus staff break room/kitchette, bathroom, work‑out space, and climate‑controlled storage
