Building Details

Year Built 1971

Buildings 2

Listing Agency: Home & Ranch Real Estate

Listed By: Melinda Scott · License #0527396 Show Phone

Source: Doorstephomegroup

Added: Aug 14 Changed: Sep 15 Last Checked: Sep 29 at 11:51AM

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Investment Insights

Based on property information with market context.

The property includes a 2,200-square-foot medical office building constructed in 1971, with space previously used by Drgac Dental and occupied by a family practice for more than 25 years. The layout supports office and medical functions, with additional potential for breakout retail or private health, beauty, and salon booths as described in the property information.

A detached metal building adds more than 1,200 square feet of specialty work rooms, along with a staff break room and kitchenette, bathroom, workout space, and climate-controlled storage. The site also includes an asphalt parking lot for staff and guests. Located just off Hwy 21 in Caldwell, the property provides a dedicated setting for medical office operations and related professional uses.

Key Highlights

• 2,200 SF medical office building constructed in 1971
• Detached metal building with over 1,200 SF of specialty work rooms
• Staff break room/kitchenette, bathroom, workout space, and climate‑controlled storage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$45,004

Cap Rate

9.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$900,080 $900.1K

Cap Rate 7%

$642,914 $642.9K

Cap Rate 9%

$500,044 $500.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,422 SF

Gross rent

$71.9K $21.00/SF

− Vacancy

−$11.9K −$3.47/SF

EGI

$60.0K $17.54/SF

− OpEx

−$15.0K −$4.38/SF

NOI

$45.0K $13.15/SF

Area

Burleson County, TX

Vacancy

16.50%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$900,080

Cap Rate 7%

$642,914

Cap Rate 9%

$500,044

Alternative Uses

Best Use

Office B

$642.9K

$562.6K – $750.1K (±1% cap)

NOI $45,004 @ 7.0% cap · market cap 9.09%

Second Best

Healthcare Medical

$570.2K

$498.9K – $665.2K (±1% cap)

NOI $39,914 @ 7.0% cap · market cap 8.06%

Theoretical Best

Office A

$842.6K

$737.3K – $983.1K (±1% cap)

NOI $58,984 @ 7.0% cap · market cap 11.92%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Drgac Layne DDS Dental Office Caldwell Dental Associates ... Dental Office Majors III Chuck ... Dental Office Dziobala Sue Dental Office Brazos Valley Orthodontic ... Dental Office

Suggested Use

Top Pick Locksmith Kitchen & Bath Showroom HVAC Service Butcher Skin Care Clinic Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

420

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 77836, TX

11,721

Population

5,990

Households

2

Avg Household Size

45

Median Age

22%

College-Educated

86%

High-School Grad

431.1 sq mi

ZIP Area

27

Density / Sq Mi

$79,567

Median Household Income

$45,291

Median Earnings

$869

Median Rent

$199,000

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Medical office improvements include a detached specialty-work building, staff kitchenette, bathroom, workout area, and climate-controlled storage.

Where is this medical office space located?

The property is located at 602 North Gray St 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 medical office building constructed in 1971; Detached metal building with over 1,200 SF of specialty work rooms; Staff break room/kitchenette, bathroom, workout space, and climate‑controlled storage