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    Property profile & analytics

    1729 S Friendswood Dr Friendswood, TX 77546

    • Commercial real estate
    • 5,664 SF
    • 1.09 lot acres
    For Sale
    View listing
    Last Sale
    Jun 11, 2025
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-9147186
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Casey Tran / Medical Clinic
    • CareNow Urgent Care - Friendswood / Medical Clinic
    • Monica Wu / Pediatrician / Physician
    • Stella Ekong / Pediatrician / Physician
    • Dr. Manju George / Pediatrician / Physician

    Property Details for 1729 S Friendswood Dr

    Year built
    2017
    Lot size
    1.09 lot acres
    Property size
    5,664 SF
    Property type
    Commercial real estate
    APN
    4094-0000-0000-102
    APU
    409400000000102

    Description

    Exceptional investment opportunity in Friendswood, Texas, featuring a 5,563 square foot medical office building. This property boasts a 100% occupancy rate with a long-term, triple-net (NNN) lease in place with CareNow Urgent Care, a subsidiary of HCA Healthcare, extending until November 29, 2028. The lease commenced December 19, 2017, and currently has approximately 51 months remaining. CareNow has a strong track record, operating for over 31 years with 100+ locations nationwide. The building, constructed in 2017, sits on a 1.09-acre lot (47,480 square feet) at 1729 S Friendswood Dr, Friendswood, TX 77546, in a prime location near major retailers such as H-E-B, Walgreens, 24 Hour Fitness, and Starbucks. This presents a stable, high-demand investment with a reputable tenant and significant remaining lease term. The property's location within the affluent Friendswood community ensures consistent patient traffic and strong long-term value. HCA Healthcare holds a BB+ S&P rating, further solidifying the investment's strength and stability. This is a rare opportunity to acquire a high-performing medical office building with a proven tenant and a secure future.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $935,000
      6.5%
      $865,000
      7%
      $800,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $777,000
      Market price range: $253k - $778k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $505,000
      Current use
      OFFICE BUILDING
      $1,200,000
      Change: +138% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Friendswood
    County
    Galveston
    State
    Texas
    Longitude
    -95.1866
    Latitude
    29.5081
    CBSA code
    26420
    CBSA name
    HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2018
    $8,889
    $1,268,200
    $1,131,800
    $2,400,000
    -
    $1,268,200
    $1,131,800
    $2,400,000

    Comparable in this City

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    Similar Nearby for Sale

    • $2,260,000
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      Friendswood Commercial Land - 9.43 Acres

      Prime Commercial Land, Excellent Location
      15511 Hope Village Rd, Friendswood, TX 77546
      View Details
    • Contact for pricing
      9.77 Acres

      Gulf Freeway Commercial Land

      High-traffic commercial lot, I-45 access.
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    • $2,200,000
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      Friendswood Commercial Land Opportunity

      4 Acres, Prime Location, High Potential
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    • $1,250,000
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      Friendswood Commercial Land

      ±5.66 Acres, High Traffic, Commercial Zoning
      1 Fm 528 Rd, Friendswood, TX 77546
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      14.00 Acres

      Friendswood Commercial Land - 14 Acres

      Prime Friendswood land, ideal for retail development.
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      3.00 Acres

      Friendswood Commercial Land

      ±3-acre development site, prime location.
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    Similar Nearby for Lease

    • Contact for pricing
      60,000 SF

      Barras Business Park Offices for Lease

      Friendswood, TX Office Space Available
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      15,000 SF

      Rex Road Industrial Park Warehouse

      Modern 15,000 SF warehouse, 2 acres.
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      2,400 SF

      Friendswood Office Space Available

      Modern Office Suites, 1,000-1,400 sq ft
      306 Friendswood Dr, Friendswood, TX 77546
      View Details
    • $30 SF/Yr
      1,200 SF

      Friendswood Office Suites Available

      Prime Office Space, Multiple Sizes
      820 Friendswood Dr, Friendswood, TX 77546
      View Details
    • Contact for pricing
      105,800 SF

      Friendswood Office Space for Lease

      Class A Office Building, 94,850 SF Available
      1715 Friendswood Dr, Friendswood, TX 77546
      View Details
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    Friendswood, TX 77546
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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
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