Assisted Living and Medical
For Sale
Contact for pricing
675 RANKIN RD, Houston, TX 77067
For sale property with an electronic gate and approximately 9,559 SF, suited for assisted living or medical-related uses.
Property Size9,559 SF
Price / SF$219.69
Days on Market563
Property Features for 675 RANKIN RD
General Information
Standard status
Active
Size
9,559 SF
Property subtype
RETAIL
Additional Details
Highway Access
Yes
Amenities
electronic gate
Listing Agency:
Danny Nguyen Commercial
(713) 270-5400
Listed By:
Danny Nguyen, CCIM
Source:
Moodyscre
Added: Feb 28, 2025
Changed: Sep 5
Last Checked: Sep 14 at 10:50AM
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 Danny Nguyen Commercial
Investment Insights
Based on property information with market context.
This for-sale property is offered with owner financing available and availability of approximately 9,559 SF. The site includes an electronic gate, supporting controlled access for a variety of neighborhood-oriented commercial and care uses.
The location provides proximity to major employers and transportation corridors, with approximate distances of 0.7 miles to I-45 and 7 miles to Beltway 8. It is also approximately 8 miles to George Bush Intercontinental Airport and within about 1.3 miles of United Airlines Reservations North Houston Center. Additional nearby distribution and business references noted include an Amazon distribution center (about 2 miles) and Dr. Pepper & Sysco distribution center (about 3 miles).
The owner’s remarks indicate the property may be suitable for assisted living, medical/health facilities, retail centers, daycare/trade school programs, and professional services or offices.
The location provides proximity to major employers and transportation corridors, with approximate distances of 0.7 miles to I-45 and 7 miles to Beltway 8. It is also approximately 8 miles to George Bush Intercontinental Airport and within about 1.3 miles of United Airlines Reservations North Houston Center. Additional nearby distribution and business references noted include an Amazon distribution center (about 2 miles) and Dr. Pepper & Sysco distribution center (about 3 miles).
The owner’s remarks indicate the property may be suitable for assisted living, medical/health facilities, retail centers, daycare/trade school programs, and professional services or offices.
Key Highlights
- Electronic gate on‑site
- Approximately 9,559 SF available (+/- 9,559 SF)
- Owner financing available
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
$129,616
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
6.17%
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%
$2,592,320
$2.6M
Cap Rate 7%
$1,851,657
$1.9M
Cap Rate 9%
$1,440,178
$1.4M
Market Conditions
NOI Build-Up for 9,559 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
$196.2K $20.52/SF
− Vacancy
−$11.0K −$1.15/SF
EGI
$185.2K $19.37/SF
− OpEx
−$55.5K −$5.81/SF
NOI
$129.6K $13.56/SF
Area
Houston, TX
Vacancy
5.60%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
30.00%
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%
$2,592,320
Cap Rate 7%
$1,851,657
Cap Rate 9%
$1,440,178
Alternative Uses
Best Use
Retail
$1.85M
$1.62M – $2.16M
NOI $129,616 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,062 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
Explore this area
Business Placement
Demographics for 77067, TX
31,729
Population
11,072
Households
2.9
Avg Household Size
31
Median Age
12%
College-Educated
72%
High-School Grad
5.7 sq mi
ZIP Area
5,566
Density / Sq Mi
$51,278
Median Household Income
$33,287
Median Earnings
$1,138
Median Rent
$174,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Houston, TX
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Frequently Asked Questions
What type of property is this?
Retail space - For sale property with an electronic gate and approximately 9,559 SF, suited for assisted living or medical-related uses.
Where is this retail space located?
The property is located at 675 RANKIN RD Houston, TX.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Electronic gate on‑site; Approximately 9,559 SF available (+/- 9,559 SF); Owner financing available
