Multi-Tenant Medical
For Sale
$1,650,000
929 W Pioneer Pkwy Grand, Grand Prairie, TX 75051
Two-building property includes multiple suites, undeveloped land, and a hard-corner position in Grand Prairie.
Property Size10,600 SF
Lot Size2.29 Acres
Price / SF$155.66
Days on Market198
Property Features for 929 W Pioneer Pkwy Grand
General Information
Standard status
Active
Size
10,600 SF
Class
C
Lot size
2.29 Acres
Property subtype
Medical/Healthcare
Additional Details
Road Access
Yes
Office Units
5
Building Details
Building Size
10,600 SF
Year Built
1982
Buildings
2
Tenancy
Multi
Listing Agency:
SVN | Trinity Advisors
Listed By:
Jeff Watson
(817) 288-5525
Source:
Thebrokerlist
Added: Feb 18
Changed: Sep 2
Last Checked: Aug 30 at 3:56AM
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 SVN | Trinity Advisors
Investment Insights
Based on property information with market context.
This medical center property includes two buildings on a 2.29-acre site. One is a freestanding single-tenant building, while the second contains five suites within a 10,600-square-foot multi-tenant center. An additional 0.803 acres remains undeveloped. The improvements date to 1982.
The property is positioned at the intersection of W. Pioneer Pkwy and Robinson Rd in Grand Prairie, directly across from Walmart Supercenter and QuikTrip. The surrounding retail base includes CVS, Walgreens, Rent-A-Center, Jiffy Lube, Family Dollar, and multiple quick-service restaurants. Nearby employment centers include Lockheed Martin Missiles & Fire Control, Universal, and GM Trucking. Schools in the surrounding area include Dubiski Career High School, South Grand Prairie High School, and Barbara Bush Elementary School.
The property is positioned at the intersection of W. Pioneer Pkwy and Robinson Rd in Grand Prairie, directly across from Walmart Supercenter and QuikTrip. The surrounding retail base includes CVS, Walgreens, Rent-A-Center, Jiffy Lube, Family Dollar, and multiple quick-service restaurants. Nearby employment centers include Lockheed Martin Missiles & Fire Control, Universal, and GM Trucking. Schools in the surrounding area include Dubiski Career High School, South Grand Prairie High School, and Barbara Bush Elementary School.
Key Highlights
- 2.29‑acre medical center property in Grand Prairie
- Two‑building layout with a freestanding single‑tenant building and a five‑suite medical center
- 10,600 SF multi‑tenant center
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
$147,450
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
8.94%
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%
$2,949,000
$2.9M
Cap Rate 7%
$2,106,429
$2.1M
Cap Rate 9%
$1,638,333
$1.6M
Market Conditions
NOI Build-Up for 10,600 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
$267.1K $25.20/SF
− Vacancy
−$21.4K −$2.02/SF
EGI
$245.8K $23.18/SF
− OpEx
−$98.3K −$9.27/SF
NOI
$147.5K $13.91/SF
Area
Grand Prairie, TX
Vacancy
8.00%
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%
$2,949,000
Cap Rate 7%
$2,106,429
Cap Rate 9%
$1,638,333
Alternative Uses
Best Use
Healthcare Medical
$2.11M
$1.84M – $2.46M
NOI $147,450 @ 7.0% cap · market cap 8.94%
Second Best
Office B
$1.91M
$1.67M – $2.23M
NOI $133,942 @ 7.0% cap · market cap 8.12%
Theoretical Best
Office A
$2.98M
$2.61M – $3.48M
NOI $208,608 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
639
Businesses Nearby
Explore this area
Business Placement
Demographics for 75051, TX
40,243
Population
14,139
Households
2.8
Avg Household Size
32
Median Age
15%
College-Educated
68%
High-School Grad
12.6 sq mi
ZIP Area
3,194
Density / Sq Mi
$53,124
Median Household Income
$34,029
Median Earnings
$1,183
Median Rent
$196,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Two-building property includes multiple suites, undeveloped land, and a hard-corner position in Grand Prairie.
Where is this medical center located?
The property is located at 929 W Pioneer Pkwy Grand Grand Prairie, TX.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 2.29‑acre medical center property in Grand Prairie; Two‑building layout with a freestanding single‑tenant building and a five‑suite medical center; 10,600 SF multi‑tenant center
