Medical Office Building Anchored by U.S. Renal
New
For Sale
$4,197,525
8181 N Stadium Dr, Houston, TX 77054
U.S. Renal Care occupies most of the building, with additional space available for lease-up.
Property Size14,705 SF
Price / SF$309.57
Days on Market2
Property Features for 8181 N Stadium Dr
General Information
Standard status
Active
Size
14,705 SF
Property subtype
Office Medical
Occupancy
86%
Financials
Cap Rate
7.15%
Opportunity Zone
Yes
Amenities
U.S. RENAL CARE ANCHOR TENANT: 86% leased to U.S. Renal Care, one of the nation's largest dialysis providers, delivering stable occupancy and long-term healthcare tenancy
LEASE-UP UPSIDE: Available vacancy provides investors an opportunity to increase income through future leasing activity while benefiting from existing in-place cash flow
TEXAS MEDICAL CENTER PROXIMITY: Located minutes from the Texas Medical Center, the world's largest medical complex and one of Houston's most significant employment centers
STADIUM & PARK ACCESS: Adjacent to Reliant Stadium and Reliant Park (formerly NRG), a major destination for sporting events, conventions, concerts, and year-round visitor traffic
IMPROVING HOUSTON OFFICE FUNDAMENTALS: Houston office demand continues to improve with positive absorption trends and investor activity supported by population growth and a diverse regional economy
TAX-ADVANTAGED TEXAS LOCATION: Texas' lack of state income tax can enhance after-tax investment returns compared to many competing markets
OPPORTUNITY ZONE LOCATION: Opportunity Zone designation may provide tax-advantaged investment benefits for qualified investors
Building Details
Building Size
14,705 SF
Year Built
1980
Listing Agency:
Marcus & Millichap - Encino
Listed By:
Lior Regenstreif · License #License(s): CA: 01267761
(818) 212-2730
Source:
Marcusmillichap
Added: Sep 26
Last Checked: Sep 26 at 2:22PM
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 Marcus & Millichap - Encino
Investment Insights
Based on property information with market context.
This 13,559-square-foot medical office property was built in 1980. U.S. Renal Care occupies 86% of the building, and the remaining space is vacant, providing an opportunity for lease-up.
The property is at 8181 N Stadium Dr in Houston, minutes from the Texas Medical Center and adjacent to Reliant Park. It carries an Opportunity Zone designation.
The property is at 8181 N Stadium Dr in Houston, minutes from the Texas Medical Center and adjacent to Reliant Park. It carries an Opportunity Zone designation.
Key Highlights
- 13,559‑square‑foot medical office property built in 1980
- U.S. Renal Care occupies 86% of the building
- Vacant space remains available for lease‑up
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
$184,511
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%
$3,690,220
$3.7M
Cap Rate 7%
$2,635,871
$2.6M
Cap Rate 9%
$2,050,122
$2.1M
Market Conditions
NOI Build-Up for 13,559 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
$341.7K $25.20/SF
− Vacancy
−$34.2K −$2.52/SF
EGI
$307.5K $22.68/SF
− OpEx
−$123.0K −$9.07/SF
NOI
$184.5K $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%
$3,690,220
Cap Rate 7%
$2,635,871
Cap Rate 9%
$2,050,122
Alternative Uses
Best Use
Healthcare Medical
$2.64M
$2.31M – $3.08M
NOI $184,511 @ 7.0% cap · market cap 4.40%
Second Best
Office B
$2.26M
$1.98M – $2.64M
NOI $158,152 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$3.49M
$3.05M – $4.07M
NOI $244,062 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,132
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77054, TX
24,419
Population
18,845
Households
1.3
Avg Household Size
31
Median Age
65%
College-Educated
98%
High-School Grad
5.3 sq mi
ZIP Area
4,607
Density / Sq Mi
$59,087
Median Household Income
$48,452
Median Earnings
$1,413
Median Rent
$173,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Houston, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Banfield Pet Hospital — 8230 Kirby Dr, Houston, TX 77054
- Dexter and Evie Veterinary Clinic + Urgent Care — 1100 Lyndon St, Houston, TX 77030
Frequently Asked Questions
What type of property is this?
Medical Office Space - U.S. Renal Care occupies most of the building, with additional space available for lease-up.
Where is this medical office space located?
The property is located at 8181 N Stadium Dr Houston, TX.
What is the asking price?
The asking price for this property is $4,197,525.
What are key features of this property?
This property features: 13,559‑square‑foot medical office property built in 1980; U.S. Renal Care occupies 86% of the building; Vacant space remains available for lease‑up
