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    Spacious Medical Center with Financing Title is generated by Realmo AI

    26407 Oak Ridge Dr, Spring, TX 77380

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    Large medical center with owner financing in The Woodlands.

    Type:Office
    Property size:
    7,688 SF
    Price / SF:
    $258/SF
    Added:
    May 21, 2024
    Days on Market:
    743
    Last Refresh:
    May 12 at 8:39 pm

    Property Features for 26407 Oak Ridge Dr

    General Information

    Standard status
    Active
    Size
    7,688 SF
    Property subtype
    Office

    Building Details

    Year Built
    2012

    We can help!

    Listing Contact
    Bill Smith

    Listing agent Bill Smith License #TX 291078

    Listing office eXp Realty

    Listing date May 21, 2024

    Source Crexi

    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 eXp Realty

    HighLights

    • Owner financing available with great terms.
    • Strategically located near Interstate 45 with easy access.
    • Large medical center with 17 treatment rooms/offices.
    • 31 parking spaces with parking in both front and back.
    • Large waiting room, reception, admin offices, and 6 restrooms.
    • Located in The Woodlands near upscale shopping, dining, and recreational facilities.

    Overview

    This large medical center is situated on a wooded lot and features 31 parking spaces. Owner financing is available. The property is located one block off Interstate 45 feeder road, providing easy access. The facility includes a large waiting room with adjoining reception and admin offices, as well as 6 restrooms and 17 treatment rooms/offices. A large full kitchen and a large outdoor courtyard with a covered pavilion are also present. The second floor over the new addition features a large conference room, a record storage room, a large private office, and several seating alcoves. The entire structure, including the pavilion, has a metal roof. The property is equipped with 6 AC units and offers parking in both the front and back, along with private employee entrances. The entire facility has been well-maintained. The property is strategically located near Interstate 45, providing excellent access for commuting and logistics. Being part of The Woodlands, this location benefits from nearby upscale shopping, dining, and recreational facilities. The building size is 7,688 square feet.

    Local 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 $227.9k $29.64
    − Vacancy −$38.3k −$4.98
    EGI $189.6k $24.66
    − OpEx −$75.8k −$9.86
    NOI $113.8k $14.80
    7,688 SF · lease $29.64/SF/yr · vacancy 16.80% · expense 40.00%

    Alternative Uses

    Best Use
    Healthcare Medical
    $1.63M
    $1.42M – $1.90M (±1% cap)
    NOI $113,754 @ 7.0% cap · market cap 5.72%
    Second Best
    Office B
    $1.29M
    $1.13M – $1.50M (±1% cap)
    NOI $90,129 @ 7.0% cap · market cap 4.53%
    Theoretical Best
    Specialty Retail
    $1.94M
    $1.70M – $2.26M (±1% cap)
    NOI $135,860 @ 7.0% cap · market cap 6.83%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Carlin Speech Pathology ... Physician Catherine Arceneaux Physician Linda Curington Physician Sue E. Pollard-Allegar, ... Physician Sommer R. Wells, ... Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • H-Town Veterinary Specialists (Woodlands) — 26215 Oak Ridge Dr, The Woodlands, TX 77380
    • Cat Scan Center Inc — 1733 Woodstead Ct #100, Spring, TX 77380
    • The Woodlands Animal Cancer and Referral Center — 26215 Oak Ridge Dr, The Woodlands, TX 77380

    Location Insight

    • Map
    • Local Demand
    City
    Spring
    County
    Montgomery
    State
    Texas
    Longitude
    -95.44932
    Latitude
    30.144806

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    FAQs

    What type of property is this?
    Medical Office Space - Large medical center with owner financing in The Woodlands.
    Where is this medical office space located?
    The property is located at 26407 Oak Ridge Dr Spring, TX.
    What is the asking price?
    The asking price for this property is $1,990,000.
    What are key features of this property?
    This property features: Owner financing available with great terms.; Strategically located near Interstate 45 with easy access.; Large medical center with 17 treatment rooms/offices.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Bill Smith
    Real Estate License ID: TX 291078
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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