Freestanding Medical Office
For Sale
$1,569,600
800 Bishop Avenue, Dallas, TX 75208
Commercially zoned medical office property with established healthcare use and access to Bishop Arts, Downtown Dallas, and Interstate 35E.
Property Size5,232 SF
Price / SF$300
Days on Market74
Property Features for 800 Bishop Avenue
General Information
Standard status
Active
Size
5,232 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$16,767
Amenities
Electric
3
Level
Asphalt, Clear lot, Level.
Building Details
Year Built
1963
Listing Agency:
(972) 372-0590
Listed By:
United Real Estate
(972) 342-2932
Source:
Xome
Added: Jun 23
Changed: Sep 3
Last Checked: Sep 2 at 3:14PM
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 United Real Estate
Investment Insights
Based on property information with market context.
This freestanding medical office property at 800 N. Bishop Avenue includes 5,232 square feet and was built in 1963. The asset has an established medical office presence, commercial zoning, electric service, and a level asphalt and clear lot. Its configuration supports medical, healthcare, professional office, owner-user, and investment applications identified for the property.
The building is positioned along Bishop Avenue in North Oak Cliff, with access to Interstate 35E, Downtown Dallas, Methodist Dallas Medical Center, and the Bishop Arts District. Surrounding development includes residential, retail, mixed-use, and commercial projects, along with dining, retail, and entertainment destinations in the Bishop Arts area.
The building is positioned along Bishop Avenue in North Oak Cliff, with access to Interstate 35E, Downtown Dallas, Methodist Dallas Medical Center, and the Bishop Arts District. Surrounding development includes residential, retail, mixed-use, and commercial projects, along with dining, retail, and entertainment destinations in the Bishop Arts area.
Key Highlights
- 5,232‑square‑foot freestanding medical office building
- Built in 1963 with established medical office presence
- Commercial zoning designation
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
$67,807
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
4.32%
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%
$1,356,140
$1.4M
Cap Rate 7%
$968,671
$968.7K
Cap Rate 9%
$753,411
$753.4K
Market Conditions
NOI Build-Up for 5,232 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
$125.6K $24.00/SF
− Vacancy
−$12.6K −$2.40/SF
EGI
$113.0K $21.60/SF
− OpEx
−$45.2K −$8.64/SF
NOI
$67.8K $12.96/SF
Area
Dallas, TX
Vacancy
10.00%
Lease Rate
$24.00 /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%
$1,356,140
Cap Rate 7%
$968,671
Cap Rate 9%
$753,411
Alternative Uses
Best Use
Office B
$4.30M
$3.76M – $5.01M
NOI $300,794 @ 7.0% cap · market cap 19.16%
Second Best
Healthcare Medical
$968.7K
$847.6K – $1.13M
NOI $67,807 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$6.28M
$5.49M – $7.32M
NOI $439,458 @ 7.0% cap · market cap 28.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,172
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75208, TX
29,446
Population
13,655
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
76%
High-School Grad
6.1 sq mi
ZIP Area
4,827
Density / Sq Mi
$76,502
Median Household Income
$48,460
Median Earnings
$1,589
Median Rent
$415,200
Median Home Value
Market
Vacancy Rate% for Office in Dallas, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Commercially zoned medical office property with established healthcare use and access to Bishop Arts, Downtown Dallas, and Interstate 35E.
Where is this medical office space located?
The property is located at 800 Bishop Avenue Dallas, TX.
What is the asking price?
The asking price for this property is $1,569,600.
What are key features of this property?
This property features: 5,232‑square‑foot freestanding medical office building; Built in 1963 with established medical office presence; Commercial zoning designation
