Medical Office Space on Corner
For Sale
$499,999
702 Galveston St, Laredo, TX 78040
Former medical building with substantial improvements and dedicated office area for commercial occupancy.
Property Size10,247 SF
Lot Size0.30 Acres
Price / SF$117.04
Days on Market329
Property Features for 702 Galveston St
General Information
Standard status
Active
Size
10,247 SF
Total Parking Spaces
30
Lot size
0.30 Acres
Property subtype
Commercial
Zoning
R3
Additional Details
Road Access
Yes
Land Use
commercial
Taxes and HOA fees
Annual Taxes
$5,544
Building Details
Year Built
1979
Buildings
1
Units
1
Building Size
10,247 SF
Listing Agency:
Exclusive Broker & Realty, LLC
(956) 282-9675
Listed By:
Mario Zaragoza
(956) 282-9675
Source:
Southtexasrealtyservices
Added: Sep 28, 2025
Changed: Aug 20
Last Checked: Aug 21 at 2:49PM
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 Exclusive Broker & Realty, LLC
Investment Insights
Based on property information with market context.
Located at 702 Galveston St in Laredo, this corner-lot property includes a former medical building with 4,272 square feet of office area. The improvements contain 10,247 square feet of gross building area and were built in 1979.
The site encompasses 13,060 square feet of land, providing a substantial footprint for the existing office-oriented improvements. The property is offered in its current condition, with due diligence recommended for prospective purchasers.
The site encompasses 13,060 square feet of land, providing a substantial footprint for the existing office-oriented improvements. The property is offered in its current condition, with due diligence recommended for prospective purchasers.
Key Highlights
- Former medical building at 702 Galveston St, Laredo, TX 78040
- 4,272 square feet of office area
- 10,247 square feet of gross building 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
$45,575
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
9.12%
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%
$911,500
$911.5K
Cap Rate 7%
$651,071
$651.1K
Cap Rate 9%
$506,389
$506.4K
Market Conditions
NOI Build-Up for 4,272 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
$84.6K $19.80/SF
− Vacancy
−$8.6K −$2.02/SF
EGI
$76.0K $17.78/SF
− OpEx
−$30.4K −$7.11/SF
NOI
$45.6K $10.67/SF
Area
Laredo, TX
Vacancy
10.20%
Lease Rate
$19.80 /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%
$911,500
Cap Rate 7%
$651,071
Cap Rate 9%
$506,389
Alternative Uses
Best Use
Office B
$786.3K
$688.0K – $917.3K
NOI $55,038 @ 7.0% cap · market cap 11.01%
Second Best
Healthcare Medical
$651.1K
$569.7K – $759.6K
NOI $45,575 @ 7.0% cap · market cap 9.12%
Theoretical Best
Office A
$1.05M
$920.3K – $1.23M
NOI $73,625 @ 7.0% cap · market cap 14.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78040, TX
36,688
Population
13,567
Households
2.7
Avg Household Size
33
Median Age
9%
College-Educated
52%
High-School Grad
6.3 sq mi
ZIP Area
5,823
Density / Sq Mi
$35,742
Median Household Income
$24,729
Median Earnings
$881
Median Rent
$116,500
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Former medical building with substantial improvements and dedicated office area for commercial occupancy.
Where is this medical office space located?
The property is located at 702 Galveston St Laredo, TX.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Former medical building at 702 Galveston St, Laredo, TX 78040; 4,272 square feet of office area; 10,247 square feet of gross building area
