Tomball Medical Office Investment
For Sale
Contact for pricing
616 W Main St, Tomball, TX 77375
Established dental office with expansion potential in Tomball, Texas.
Property Size6,000 SF
Price / SF$273.33
Days on Market147
Property Features for 616 W Main St
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Office
Occupancy
100%
Lease Type
Net
Investment Type
Net Lease
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Northmarq Capital, LLC
Listed By:
Riley Sharman · License #TX 0521260
Source:
Crexi
Added: Mar 19
Changed: Aug 8
Last Checked: Aug 10 at 3:45AM
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 Northmarq Capital, LLC
Investment Insights
Based on property information with market context.
The property, currently operating as a dental office, has been in use for over 26 years. Heartland Dental acquired the operations just over 5 years ago and recently exercised their first of three 5-year options. The tenant, Heartland Dental, occupies 4,500 square feet on the first floor. The second floor, comprising 1,500 square feet, is currently unoccupied, presenting an opportunity for increased returns. The lease is a net lease with 1.5% annual increases, with the remaining two options at fair market rent. Leasing the vacant space at $20 per square foot net has the potential to increase the net operating income by almost 40%. The total property size is 6,000 square feet and is located in Tomball, Texas.
Key Highlights
- Long‑term tenant: Established dental office location for over 26 years.
- Strong tenant: Heartland Dental, a large organization, occupies the property.
- Net Lease with annual increases: Provides predictable and growing income stream with 1.5% annual increases.
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
$94,335
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
5.75%
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%
$1,886,700
$1.9M
Cap Rate 7%
$1,347,643
$1.3M
Cap Rate 9%
$1,048,167
$1.0M
Market Conditions
NOI Build-Up for 6,000 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
$184.3K $30.72/SF
− Vacancy
−$27.1K −$4.52/SF
EGI
$157.2K $26.20/SF
− OpEx
−$62.9K −$10.48/SF
NOI
$94.3K $15.72/SF
Area
Harris County, TX
Vacancy
14.70%
Lease Rate
$30.72 /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%
$1,886,700
Cap Rate 7%
$1,347,643
Cap Rate 9%
$1,048,167
Alternative Uses
Best Use
Healthcare Medical
$1.35M
$1.18M – $1.57M
NOI $94,335 @ 7.0% cap · market cap 5.75%
Second Best
Office B
$1.12M
$982.4K – $1.31M
NOI $78,589 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,682 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,605
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Established dental office with expansion potential in Tomball, Texas.
Where is this medical office space located?
The property is located at 616 W Main St Tomball, TX.
What is the asking price?
The asking price for this property is $1,640,000.
What are key features of this property?
This property features: Long‑term tenant: Established dental office location for over 26 years.; Strong tenant: Heartland Dental, a large organization, occupies the property.; Net Lease with annual increases: Provides predictable and growing income stream with 1.5% annual increases.
