Remodeled Medical Office
New
For Sale
$1,400,000
7002 Lebanon Road, Frisco, TX 75034
CommercialSale, Frisco, TX
Property Size3,200 SF
Price / SF$437.50
Days on Market4
Property Features for 7002 Lebanon Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Parking features
Assigned
Security features
Security
Accessibility
Accessible Approach with Ramp
Subdivision
Starwood Professional Village Office Condo
Lot features
Interior Lot, Landscaped, Subdivision, Waterfront, Zero Lot Line, Retaining Wall
View
Water
Directions
See Google maps - located at the Northwest intersection of Lebanon and DNT
Standard status
Active
APN
R935900210301
Taxes and HOA fees
Tax Description
STARWOOD PROFESSIONAL VILLAGE OFFICE CONDOMIN
Tax Annual Amount
21692
Legal Description
STARWOOD PROFESSIONAL VILLAGE OFFICE CONDOMIN
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Water front features
Waterfront, Canal Access
Water front
1
Building Details
Year built
2006
Floors in Building
1
Number of units
1
Flooring type
Laminate, Tile
Building materials
Brick, Rock, Stone
Roof type
Composition
Listing Agency:
WILLIAM DAVIS REALTY
(214) 705-1000
Listed By:
Thomas Gooch · License #0521519
(972) 732-6002
Added: Aug 21
Last Checked: Aug 24 at 1:06PM
MLS# 21365860
Copyright © 2026 North Texas Real Estate Information Systems, Inc. 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 at 7002 Lebanon Road in Frisco, this medical office condo provides almost 3,200 square feet of finished space in a brick, rock, and stone exterior building. The interior was remodeled in 2022 with new paint and flooring, while granite counters and central heating and air conditioning serve the space.
The current layout includes a double front entry, reception areas, a lab, two restrooms, a private doctor’s office restroom, kitchen-breakroom, two counseling rooms, seven exam rooms, an open work area, two storage closets, and an exterior riser room. Each exam room includes a sink and wet area. Five assigned parking spaces are included, with up to 10 additional spaces available nearby. The property was built in 2006 and has public water and sewer service.
The current layout includes a double front entry, reception areas, a lab, two restrooms, a private doctor’s office restroom, kitchen-breakroom, two counseling rooms, seven exam rooms, an open work area, two storage closets, and an exterior riser room. Each exam room includes a sink and wet area. Five assigned parking spaces are included, with up to 10 additional spaces available nearby. The property was built in 2006 and has public water and sewer service.
Key Highlights
- Almost 3,200 square feet of finished medical office space
- Remodeled in 2022 with updated paint and flooring
- Seven exam rooms, two counseling rooms, lab, reception areas, and open work area
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
$65,647
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
4.69%
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%
$1,312,940
$1.3M
Cap Rate 7%
$937,814
$937.8K
Cap Rate 9%
$729,411
$729.4K
Market Conditions
NOI Build-Up for 3,200 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
$100.6K $31.44/SF
− Vacancy
−$13.1K −$4.09/SF
EGI
$87.5K $27.35/SF
− OpEx
−$21.9K −$6.84/SF
NOI
$65.6K $20.51/SF
Area
Frisco, TX
Vacancy
13.00%
Lease Rate
$31.44 /SF/Yr
Expense Ratio
25.00%
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%
$1,312,940
Cap Rate 7%
$937,814
Cap Rate 9%
$729,411
Alternative Uses
Best Use
Office B
$937.8K
$820.6K – $1.09M
NOI $65,647 @ 7.0% cap · market cap 4.69%
Second Best
Healthcare Medical
$592.5K
$518.4K – $691.2K
NOI $41,472 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,395 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75034, TX
47,734
Population
23,836
Households
2
Avg Household Size
36
Median Age
63%
College-Educated
97%
High-School Grad
15.9 sq mi
ZIP Area
3,002
Density / Sq Mi
$107,945
Median Household Income
$67,256
Median Earnings
$1,730
Median Rent
$679,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Updated clinical layout with exam rooms, wet areas, and assigned parking supports medical office operations.
Where is this medical office space located?
The property is located at 7002 Lebanon Road Frisco, TX.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Almost 3,200 square feet of finished medical office space; Remodeled in 2022 with updated paint and flooring; Seven exam rooms, two counseling rooms, lab, reception areas, and open work area
