1913 Steele Rd, Unit 140 Alvin, TX 77511-5526

Property Details for 1913 Steele Rd

Year built

2010

Lot size

2.00 lot acres

Property size

4,590 SF

Property type

Medical offices

Property subtype

Medical centers

APN

0421-0024-000

APU

4210024000

Description

This exceptional investment opportunity presents a 5,875 square foot medical office building in Alvin, Texas, currently 100% occupied by EyeSouth Partners, a rapidly expanding, private equity-backed healthcare provider with over 220 clinics nationwide. The property boasts a strong, long-term net lease (NNN) with 7.4 years remaining until expiration, featuring built-in 2% annual rent increases, providing a hedge against inflation. The current net operating income (NOI) is $117,625, yielding a compelling 7.5% cap rate on the asking price of $1,568,333 ($267 per square foot). The lease commenced July 10, 2020, and expires June 30, 2032, with options for 4 or 5-year lease extensions. Located at 1913 Steele Rd, Alvin, TX 77511, this asset benefits from its position within a high-income area ($122,000 average household income within a five-mile radius) and the advantages of being in a tax-free state. The building was constructed in 2010 and is situated within the Houston MSA, a robust economy with a 2023 GDP estimated at $700 billion. The recession-resistant nature of the healthcare industry, coupled with the tenant's impressive growth trajectory and private equity backing, makes this a highly attractive investment opportunity. The property offers a passive investment structure with minimal landlord responsibilities, making it ideal for both local and out-of-state investors seeking stable, long-term returns.

Location Insight

City

Alvin

County

Brazoria

State

Texas

Longitude

-95.2269

Latitude

29.4353

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments