Medical Office Space with Exam
New
For Sale
$1,400,000
7002 Lebanon Rd Unit 103, Frisco, TX 75034
Remodeled medical office condo with flexible reception areas, wet-area exam rooms, and assigned parking.
Property Size3,197 SF
Price / SF$437.91
Days on Market7
Property Features for 7002 Lebanon Rd Unit 103
General Information
Standard status
Active
Size
3,197 SF
Total Parking Spaces
5
Additional Details
Highway Access
Yes
Office Units
1
Building Details
Year Built
2006
Year Renovated
2022
Construction
stone and brick
Listing Agency:
WILLIAM DAVIS REALTY
(214) 532-6823
Listed By:
Thomas Gooch · License #0720823
Source:
Cityupgroup
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 25 at 4:20AM
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 WILLIAM DAVIS REALTY
Investment Insights
Based on property information with market context.
This 3,197-square-foot medical office condo includes a double front entry, oversized reception area, rear foyer-reception, lab room, kitchen-breakroom, two counseling rooms, seven exam rooms, an open work area, two storage closets, and an exterior riser room. The unit also provides separate employee and patient-client restrooms, along with a doctor's office featuring a private ensuite restroom. Each exam room includes a sink, and counter surfaces are finished with designer granite.
Built in 2006 and remodeled in 2022, the space has updated paint and flooring throughout. The property is located at 7002 Lebanon Road Unit 103 in Frisco, with proximity to major tollways and local amenities. Five assigned parking spaces are included, with up to 10 additional spaces available nearby.
Built in 2006 and remodeled in 2022, the space has updated paint and flooring throughout. The property is located at 7002 Lebanon Road Unit 103 in Frisco, with proximity to major tollways and local amenities. Five assigned parking spaces are included, with up to 10 additional spaces available nearby.
Key Highlights
- 3,197 SF medical office condo at 7002 Lebanon Road Unit 103, Frisco
- Seven exam rooms, each with a wet area and sink
- Remodeled in 2022 with fresh paint and flooring throughout
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
$65,585
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
4.68%
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%
$1,311,700
$1.3M
Cap Rate 7%
$936,929
$936.9K
Cap Rate 9%
$728,722
$728.7K
Market Conditions
NOI Build-Up for 3,197 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
$100.5K $31.44/SF
− Vacancy
−$13.1K −$4.09/SF
EGI
$87.4K $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%
$1,311,700
Cap Rate 7%
$936,929
Cap Rate 9%
$728,722
Alternative Uses
Best Use
Office B
$936.9K
$819.8K – $1.09M
NOI $65,585 @ 7.0% cap · market cap 4.68%
Second Best
Healthcare Medical
$591.9K
$517.9K – $690.6K
NOI $41,433 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,313 @ 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
1
Office units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- LazyPaw Animal Hospitals — 7380 Stonebrook Pkwy, Frisco, TX 75034
Frequently Asked Questions
What type of property is this?
Medical Office Space - Remodeled medical office condo with flexible reception areas, wet-area exam rooms, and assigned parking.
Where is this medical office space located?
The property is located at 7002 Lebanon Rd Unit 103 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: 3,197 SF medical office condo at 7002 Lebanon Road Unit 103, Frisco; Seven exam rooms, each with a wet area and sink; Remodeled in 2022 with fresh paint and flooring throughout
