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    17070 Red Oak Dr Houston, TX 77090

    For Sale
    $7,000,000

    Houston Medical Office Building, Net Lease

    Property size:
    90,508 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional investment opportunity presents the Texas Medical Arts Tower, a 90,508 square foot medical office building situated in Houston, Texas. Located at 17070 Red Oak Dr, 77090, this single building property sits on 3.83 acres and boasts 30 tenants with a current occupancy rate of 78.6%. Originally constructed in 1983 and renovated in 2009, the building offers ample parking, including both covered and uncovered spaces. The property benefits from its strategic location in the Medical District, approximately 20 miles from downtown Houston, and enjoys excellent visibility from Cypress Creek Pkwy, a high-traffic thoroughfare with over 68,000 vehicles per day. Its proximity to Interstate 45 and Loops 8 and 99 ensures easy accessibility. The asking price is $7,000,000, translating to $77.34 per square foot. Recent capital expenditures totaling approximately $1 million have been made, deferring the need for significant near-term investments. The property is ideally positioned within a densely populated area, serving a 5-mile radius encompassing 315,146 residents. Furthermore, additional covered land is available for potential future development. This net lease investment presents a compelling opportunity for value appreciation and strong cash flow. The property is directly adjacent to HCA Healthcare Northwest Hospital.

    Property Features for 17070 Red Oak Dr

    General Information

    Property type
    Medical offices
    Square Feet
    90,508 SF
    Lot Size
    166,835 SF

    Building Details

    Year Built/Renovated
    1983/2009
    Buildings
    1

    HighLights

    • High‑value medical office building investment opportunity adjacent to HCA Healthcare Northwest Hospital.
    • Located 20 miles from Downtown Houston, Texas' largest MSA.
    • One mile from Interstate 45, ten minutes from Loops 8 and 99.
    • $1 million in recent capital expenditures, minimizing immediate post‑purchase expenses.
    • Ample covered and uncovered parking.
    • Strong demographics: 315,146 residents within a 5‑mile radius.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quest diagnostics Diagnostic Center Trusted Life Care Psychologist Houston Digestive Diseases ... Doctor Dr. W. Cooper ... Urologist Don Berardinucci Urologist

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4447875
    Latitude
    30.0190541

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    FAQs

    What type of property is this?
    Medical office - Houston Medical Office Building, Net Lease
    Where is this medical office located?
    The property is located at 17070 Red Oak Dr Houston, TX.
    What is the asking price?
    The asking price for this property is $7,000,000.
    What are key features of this property?
    This property features: High-value medical office building investment opportunity adjacent to HCA Healthcare Northwest Hospital.; Located 20 miles from Downtown Houston, Texas' largest MSA.; One mile from Interstate 45, ten minutes from Loops 8 and 99.
    Request Owner's contact information
    17070 Red Oak Dr Houston, TX 77090
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    Houston, TX 77090
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    Realmo Value Estimation

    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.

    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.

    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
    17070 Red Oak Dr Houston, TX 77090
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