Freestanding Medical Office
New
For Sale
$1,569,600
800 N Bishop Avenue 2, Dallas, TX 75208
Commercial zoning and an established medical-office presence support continued office use.
Property Size5,232 SF
Days on Market3
Property Features for 800 N Bishop Avenue 2
General Information
Standard status
Active
Size
5,232 SF
Property subtype
Retail
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$16,767
Building Details
Building Size
5,232 SF
Year Built
1963
Buildings
1
Listing Agency:
United Real Estate
Listed By:
Alexandra Fincher · License #0197208
(972) 342-2932
Source:
Baerealty
Added: Sep 24
Last Checked: Sep 26 at 12:39PM
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.
Built in 1963, this freestanding medical office building has an established medical-office presence and commercial zoning.
The property is on Bishop Avenue in Dallas, with access to I-35E and connections to Downtown Dallas, Methodist Dallas Medical Center, and the Bishop Arts area.
The property is on Bishop Avenue in Dallas, with access to I-35E and connections to Downtown Dallas, Methodist Dallas Medical Center, and the Bishop Arts area.
Key Highlights
- Freestanding medical office building
- Built in 1963
- 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
Current Use
Lease Details
Yes
Highway access
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 - Commercial zoning and an established medical-office presence support continued office use.
Where is this medical office space located?
The property is located at 800 N Bishop Avenue 2 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: Freestanding medical office building; Built in 1963; Commercial zoning designation
