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    21212 Northwest Fwy Cypress, TX 77429

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    For Lease
    Contact for pricing

    Medical Office Suites, Prime Location

    Lot size:
    168,537 SF

    Property Features for 21212 Northwest Fwy

    General Information

    Property type
    Medical Office Space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    168,537 SF
    Class
    A

    Building Details

    Year Built
    2008
    Buildings
    1
    Stories
    6

    Spaces For Lease

    at 21212 Northwest Fwy, Cypress, TX 77429 Contact us

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    Listing Contact
    Angela Barber
    Angela Barber

    Listing Agency: CBRE Houston Galleria Listing Agent: Angela Barber

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    North Cypress Medical Plaza II, a Class A, six-story medical office building totaling 168,537 square feet, presents a unique investment opportunity. Located in Harris County on the HCA North Cypress Medical Center campus, this 2008-built property offers 23 available suites ranging from 1,131 to 12,351 square feet. Recent renovations showcase upgraded lobbies and high-end common area finishes, enhancing the professional image for tenants. The building benefits from a highly desirable location, boasting prominent visibility and easy access via multiple entry points from US Route 290 and Huffmeister Road, with over 123,000 and 15,000 average daily vehicles respectively. Convenient amenities include complimentary valet parking and, for Building II, skyway connectivity to an on-site parking garage. The strong surrounding demographics are a key advantage, with over 110,360 people residing within a three-mile radius, exhibiting an average household income exceeding $101,607 and high private insurance coverage rates. This presents a robust consumer base for tenants. The single-building property sits on one acre of land and features a multi-tenant occupancy. This exceptional medical office space offers a compelling combination of modern amenities, convenient location, and a strong demographic profile.
    Property Profile Location Intelligence

    Current Use by Public Records

    Aspire Allergy & Sinus Physician Gendi Sharon G ... Physician Sleep Resources of Houston Physician Ali Mazloom, MD Physician Neil Desai, DO Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cypress
    County
    Harris
    State
    Texas
    Longitude
    -95.630434
    Latitude
    29.9248169

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    FAQs

    What type of property is this?
    Medical Office Space - Medical Office Suites, Prime Location
    Where is this medical office space located?
    The property is located at 21212 Northwest Fwy Cypress, TX.
    What are key features of this property?
    This property features: Class A, 168,537 SF medical office building in Harris County, TX.; Single, six-story building constructed in 2008, situated on one acre of land.; Multiple tenancy with 23 suites available, ranging from 1,131 SF to 12,351 SF.
    Request Owner's contact information
    21212 Northwest Fwy Cypress, TX 77429
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    Cypress, TX 77429
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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.

    More about this property
    21212 Northwest Fwy Cypress, TX 77429
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    Contact for Pricing
    Please call us for current price
    and status of this listing Angela Barber
    Angela Barber
    Real Estate License ID: 703601
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