1210 Southmore Ave Pasadena, TX 77502-1206

This Pasadena, TX medical office building presents a compelling investment opportunity. The 11,317 square foot, single-tenant property is 100% occupied by Fresenius Kidney Care under a Net Lease with 6.3 years remaining on a 15.3-year lease, expiring February 28, 2031. Built in 1980 and renovated in 2015, the building sits on a 2.3-acre lot with 40 parking spaces. The lease includes three, five-year renewal options with 10% rent increases every five years during the primary term and fair market value increases in the option periods. The current asking price is $3,705,625, representing a 6.40% cap rate and a price per square foot of $327.44. The property boasts a strong NOI of $237,160 and benefits from its location in a densely populated area of Pasadena, a suburb of Houston, with a high average household income. The tenant, Fresenius Kidney Care, is a leading operator in the healthcare industry with an investment-grade credit rating. This offering provides a stable, long-term investment with built-in rent growth and minimal expense exposure. The property is fee simple ownership. The lease is landlord-friendly with no early termination clauses. The building is located on Southmore Avenue, a high-traffic area.