4600 Fairmont Pkwy, Pasadena, TX 77504-3335
- Medical Office Space
- 24,026 SF
- 1.31 lot acres
Current Use by Public Records
- Dr. Fariah Hossain / Dental Office
- Proactive Physical Therapy Centers / Medical Clinic
- Joseph Engler / Physician / Medical Clinic
- Tara Singh / Physician
- Keith Blasingame / Physician
Property Details for 4600 Fairmont Pkwy
- Year built
- 2000
- Construction
- STEEL FRAME
- Lot size
- 1.31 lot acres
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 461650000094
- APU
- 461650000094
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Aug 26, 2020 | — | 4025 Burke Rd LLC | — | Deed · related | $42.8M · Cbre Cap Markets |
| Feb 14, 2019 | — | 4025 Burke Rd LLC | Sandridge Owner LLC | Trustees Deed | $38.9M · Readycap Com'l |
| Oct 26, 2018 | — | Intelligent Investments LLC | Fairmont Whitestone Group LLC | Grant Deed | $1.9M · Zions First Nat'l Bk |
| Aug 19, 2013 | — | Fairmont Whitestone Group LLC | Harris Prof Pavilion LP | Grant Deed | $2.1M · Prosperity Bank |
| — | — | 4025 Burke Rd LLC | — | Deed Of Trust · related | $42.8M · Cbre Cap Markets |
Description
This exceptional 17,636 square foot medical office building, located at 4600 Fairmont Pkwy, Pasadena, TX 77504, presents a compelling investment opportunity. The property boasts a prime location in a high-traffic area of Houston, with over 23,500 cars passing daily. Built in 2000, this multi-tenant building sits on a 1.31-acre lot and currently enjoys an 89.8% occupancy rate. The established tenant roster includes prominent names such as Advanced Dental Associates, Proactive Physical Therapy Centers, HCA Healthcare (Women's Associates OBGYN), and Success on the Spectrum. The property operates under a triple net lease (NNN) structure, featuring rent bumps within the primary lease terms and options, providing a stable income stream. The current NOI stands at $299,115, with a pro-forma NOI of $331,013, yielding a 7.00% cap rate and a pro-forma cap rate of 7.75%. The asking price is $4,273,000, translating to an attractive price per square foot of $242. A significant upside potential exists with the leasing of the remaining 1,800 square feet of vacant space. The surrounding area demonstrates strong demographics, with over 15,600 people residing within a one-mile radius, boasting an average income of $79,000. This property offers a blend of stability and growth potential, making it an ideal addition to any investment portfolio. Detailed rent roll information is available upon request.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $700,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,359,000
Market price range: $760k - $2.09M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $1,420,000 Current use
- WAREHOUSE, STORAGE
- $1,565,000 Change: +10% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $1,560,000 Change: +10% Conversion: Moderate
- RETAIL STORES
- $1,495,000 Change: +5% Conversion: Difficult
- OFFICE BUILDING
- $1,460,000 Change: +3% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Pasadena
- County
- Harris
- State
- Texas
- Longitude
- -95.1739
- Latitude
- 29.6493
- CBSA code
- 26420
- CBSA name
- HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA
