Remodeled Medical Office
For Sale
$1,400,000
7002 Lebanon Road, Frisco, TX 75034
Clinical layout includes exam rooms, counseling rooms, a lab, reception areas, and private restroom facilities.
Property Size3,197 SF
Price / SF$437.91
Days on Market9
Property Features for 7002 Lebanon Road
General Information
Standard status
Active
Size
3,197 SF
Total Parking Spaces
5
Property subtype
Office
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$21,692
Amenities
Water
Other
Water Front, Sidewalks. Other.
Building Details
Year Built
2006
Year Renovated
2022
Construction
stone and brick
Listing Agency:
WILLIAM DAVIS REALTY
(469) 450-8047
Listed By:
Thomas Gooch · License #0521519
(469) 450-8047
Source:
Xome
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 29 at 7:49AM
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 medical office condominium provides 3,197 square feet of finished space within a 2006 building. The interior was remodeled in 2022 with updated paint and flooring, granite counters, and sinks in each exam room. The configuration includes seven exam rooms, two counseling rooms, a laboratory, two reception areas, a doctor's office with private ensuite restroom, employee and patient-client restrooms, a kitchen-breakroom, open work area, two storage closets, and an exterior riser room. Multiple entry points support a flexible arrival and reception configuration.
The property is located at 7002 Lebanon Road in Frisco, with access to major tollways and nearby local amenities. Five assigned parking spaces are included, with up to 10 additional spaces available in close proximity. The layout and existing clinical improvements support continued medical office use.
The property is located at 7002 Lebanon Road in Frisco, with access to major tollways and nearby local amenities. Five assigned parking spaces are included, with up to 10 additional spaces available in close proximity. The layout and existing clinical improvements support continued medical office use.
Key Highlights
- 3,197 SF medical office condominium in Frisco
- Remodeled in 2022 with new paint and flooring
- Seven exam rooms, two counseling rooms, and a dedicated lab
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
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 - Clinical layout includes exam rooms, counseling rooms, a lab, reception areas, and private restroom facilities.
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: 3,197 SF medical office condominium in Frisco; Remodeled in 2022 with new paint and flooring; Seven exam rooms, two counseling rooms, and a dedicated lab
