Medical-Ready Office Building For
For Sale
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7118 HARRISBURG BLVD, Houston, TX 77011
Single-story building adaptable for medical, urgent care, or distribution.
Property Size20,670 SF
Price / SF$159.65
Days on Market102
Property Features for 7118 HARRISBURG BLVD
General Information
Standard status
Active
Size
20,670 SF
Class
B
Property subtype
Office, Industrial, Mixed Use
Zoning
No
Occupancy
100%
Lease Type
NNN
Building Details
Year Built
1953
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Worth Clark Realty
Listed By:
Rosalba Martinez · License #Texas
Source:
Crexi
Added: May 27
Changed: Aug 22
Last Checked: Sep 1 at 11:19PM
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 Worth Clark Realty
Investment Insights
Based on property information with market context.
This single-story office building is equipped for medical use and offers flexible interior space suitable for adaptation. Potential uses include medical facilities, urgent care centers, or distribution hubs. The property is accessible from major freeway systems, including I-45 and the Gulf Freeway. It is located in proximity to residential neighborhoods and community amenities within the East End district.
Key Highlights
- Medical‑ready office building adaptable for medical use, urgent care, or distribution
- Flexible interior space allows for customization
- Accessible from major Houston freeways (I‑45 and Gulf Freeway)
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
$281,277
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
8.52%
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%
$5,625,540
$5.6M
Cap Rate 7%
$4,018,243
$4.0M
Cap Rate 9%
$3,125,300
$3.1M
Market Conditions
NOI Build-Up for 20,670 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
$520.9K $25.20/SF
− Vacancy
−$52.1K −$2.52/SF
EGI
$468.8K $22.68/SF
− OpEx
−$187.5K −$9.07/SF
NOI
$281.3K $13.61/SF
Area
Houston, TX
Vacancy
10.00%
Lease Rate
$25.20 /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%
$5,625,540
Cap Rate 7%
$4,018,243
Cap Rate 9%
$3,125,300
Alternative Uses
Best Use
Healthcare Medical
$4.02M
$3.52M – $4.69M
NOI $281,277 @ 7.0% cap · market cap 8.52%
Second Best
Office B
$3.44M
$3.01M – $4.02M
NOI $241,095 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$5.32M
$4.65M – $6.20M
NOI $372,060 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,068
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77011, TX
16,841
Population
7,366
Households
2.3
Avg Household Size
37
Median Age
10%
College-Educated
59%
High-School Grad
3.4 sq mi
ZIP Area
4,953
Density / Sq Mi
$49,163
Median Household Income
$36,517
Median Earnings
$1,063
Median Rent
$187,100
Median Home Value
Market
Vacancy Rate% for Office in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office space - Single-story building adaptable for medical, urgent care, or distribution.
Where is this office space located?
The property is located at 7118 HARRISBURG BLVD Houston, TX.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Medical‑ready office building adaptable for medical use, urgent care, or distribution; Flexible interior space allows for customization; Accessible from major Houston freeways (I‑45 and Gulf Freeway)
