Medical Office Building on
8506 Wesley Greenville, TX 75402
For Sale
$1,500,000
3628 sq ft medical office building on 1.98 acres.
Property Size3,628 SF
Lot Size1.98 Acres
Price / SF$413.45
Days on Market99
Property Features for 8506 Wesley
General Information
Standard status
Active
Size
3,628 SF
Lot size
1.98 Acres
Property subtype
Commercial
Building Details
Year Built
1983
Listing Agency:
Century 21 First Group
(903) 455-5852
Listed By:
Lq Marshall · License #0592977
(903) 268-3045
Source:
Signaturere
Added: Apr 22
Changed: Jul 10
Last Checked: Jul 10 at 3:56PM
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 Century 21 First Group
Investment Insights
Based on property information with market context.
This 3628 square foot medical office building is situated on approximately 1.98 acres. The property is located on Wesley Street, between I-30 and FM 1570, in a rapidly growing area with over 2500 new homes and businesses. The building features a 31 x 21 lobby, a 27 x 24 workspace and reception area, and a 17 x 13 conference room. It also includes five offices, five bathrooms, four examination rooms, a laundry area, and a kitchen. Two of the offices have plumbing and sinks, allowing them to be used as examination rooms. The building has been used as a dermatology office for over 40 years. The property includes 10,000 square feet of private parking, recently refinished with asphalt and striped, and is ADA compliant. An attached two-car carport is also included. Other potential uses include business offices, a hair salon, spa, medical or rehab clinic, dentist office, or pet resort or grooming. The property is zoned commercial and will be surveyed out of an existing 3.571 acres.
Key Highlights
- High‑growth location with over 2500 new homes and businesses.
- Large 3628 sq ft medical office building on approximately 1.98 acres.
- 10,000 sq ft private parking lot, recently refinished.
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $94.5k | $26.04 |
| − Vacancy | −$10.4k | −$2.86 |
| EGI | $84.1k | $23.18 |
| − OpEx | −$33.6k | −$9.27 |
| NOI | $50.4k | $13.91 |
3,628 SF · lease $26.04/SF/yr · vacancy 11.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$720.7K
$630.6K – $840.8K
NOI $50,449 @ 7.0% cap · market cap 3.36%
Second Best
Office B
$657.3K
$575.1K – $766.8K
NOI $46,010 @ 7.0% cap · market cap 3.07%
Theoretical Best
Industrial
$3.60M
$3.15M – $4.21M
NOI $252,350 @ 7.0% cap · market cap 16.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Crossroads Veterinary Clinic — 8414 Wesley St, Greenville, TX 75402
Frequently Asked Questions
What type of property is this?
Medical Office Space - 3628 sq ft medical office building on 1.98 acres.
Where is this medical office space located?
The property is located at 8506 Wesley Greenville, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: High‑growth location with over 2500 new homes and businesses.; **Large 3628 sq ft medical office building on approximately 1.98 acres.**; **10,000 sq ft private parking lot, recently refinished.**
