Healthcare-Anchored Office
New
For Sale
Contact for pricing
7924 West Broadway Street, Pearland, TX 77581
Established center combines medical and professional suites with broad tenant representation and one available suite.
Property Size37,754 SF
Lot Size5.44 Acres
Price / SF$251.89
Days on Market4
Property Features for 7924 West Broadway Street
General Information
Standard status
Active
Size
37,754 SF
Lot size
5.44 Acres
Property subtype
Retail, Office
Occupancy
95%
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2003
Building Size
37,754 SF
Tenancy
Multi
Listing Agency:
STRIVE Commercial Real Estate Advisors
Listed By:
Jake Dutson · License #702071-SA
Source:
Crexi
Added: Sep 7
Changed: Sep 9
Last Checked: Sep 9 at 3:16PM
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 STRIVE Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
This 37,754-square-foot office center occupies 5.44 acres and was built in 2003. The property is 95% leased to 13 tenants spanning pediatric medicine, allergy and specialty care, legal and financial services, a private preschool, and a church. One 1,800-square-foot vacancy remains within the center, providing available space in an established healthcare-oriented office property.
The property fronts W Broadway St, also designated SH 518, in Pearland and is positioned across from Kroger. Additional surrounding retailers include Sprouts Farmers Market, H-E-B, Walmart, and Home Depot. The site records roughly 31,269 vehicles per day and is approximately 20 minutes south of downtown Houston and the Texas Medical Center via SH 288.
The property fronts W Broadway St, also designated SH 518, in Pearland and is positioned across from Kroger. Additional surrounding retailers include Sprouts Farmers Market, H-E-B, Walmart, and Home Depot. The site records roughly 31,269 vehicles per day and is approximately 20 minutes south of downtown Houston and the Texas Medical Center via SH 288.
Key Highlights
- 37,754 SF office center on 5.44 acres
- 95% leased with 13 tenants
- 1,800 SF remaining vacancy
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
$418,209
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
4.40%
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%
$8,364,180
$8.4M
Cap Rate 7%
$5,974,414
$6.0M
Cap Rate 9%
$4,646,767
$4.6M
Market Conditions
NOI Build-Up for 37,754 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
$770.2K $20.40/SF
− Vacancy
−$73.2K −$1.94/SF
EGI
$697.0K $18.46/SF
− OpEx
−$278.8K −$7.38/SF
NOI
$418.2K $11.08/SF
Area
Pearland, TX
Vacancy
9.50%
Lease Rate
$20.40 /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%
$8,364,180
Cap Rate 7%
$5,974,414
Cap Rate 9%
$4,646,767
Alternative Uses
Best Use
Healthcare Medical
$5.97M
$5.23M – $6.97M
NOI $418,209 @ 7.0% cap · market cap 4.40%
Second Best
Office B
$4.27M
$3.74M – $4.98M
NOI $298,825 @ 7.0% cap · market cap 3.14%
Theoretical Best
Warehouse
$7.38M
$6.46M – $8.61M
NOI $516,503 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
95%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
Explore this area
Business Placement
Demographics for 77581, TX
49,198
Population
18,285
Households
2.7
Avg Household Size
38
Median Age
36%
College-Educated
94%
High-School Grad
24.6 sq mi
ZIP Area
2,000
Density / Sq Mi
$106,556
Median Household Income
$62,887
Median Earnings
$1,591
Median Rent
$309,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Established center combines medical and professional suites with broad tenant representation and one available suite.
Where is this office building located?
The property is located at 7924 West Broadway Street Pearland, TX.
What is the asking price?
The asking price for this property is $9,510,000.
What are key features of this property?
This property features: 37,754 SF office center on 5.44 acres; 95% leased with 13 tenants; 1,800 SF remaining vacancy
