Nec Of Fry Rd & Rd Cypress, TX 77433
- Office Properties & Spaces
- 4,388 SF
- 0.60 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 0 Nec Of Fry Rd & Rd
- Year built
- 2024
- Lot size
- 0.60 lot acres
- Property size
- 4,388 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional investment opportunity presents a brand-new, 4,388 square foot medical office building in Cypress, Texas, leased to Heartland Dental, the nation's largest dental support organization, under a 10-year net lease (NN+) commencing September 12, 2024, and expiring September 30, 2034. The property boasts a 6.00% cap rate and a strong NOI of $192,915. Situated on a 0.6-acre lot at the highly visible, signalized intersection of Fry Road and West Road, this location benefits from an impressive 43,755 average annual daily traffic count. The property is part of the Miramesa master-planned community, a top-25 community nationally, and enjoys proximity to the Bridgeland development, a large, established community. The surrounding area demonstrates exceptional demographics, including an average annual household income exceeding $174,649 within a one-mile radius and a projected 13% average annual household income increase within five miles over the next five years. The lease includes rent bumps, providing for increased income over the lease term. This is a 1031 exchange eligible property. The building was constructed in 2024. The strong tenant, favorable lease terms, and prime location make this a compelling investment opportunity. The property is located in a high-growth area with a population of 240,168 within a five-mile radius, projected to increase by 6% by 2028.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cypress
- County
- Harris
- State
- Texas
- Longitude
- -95.7261
- Latitude
- 29.9099
