54 Flag Lk Plz Lake Jackson, TX 77566-6263
- Medical offices
- 3,898 SF
- 0.38 lot acres
Nov 10, 2020
Current Use by Public Records
- Medical offices
Property Details for 54 Flag Lk Plz
- Year built
- 1983
- Lot size
- 0.38 lot acres
- Property size
- 3,898 SF
- Property type
- Medical offices
- Property subtype
- Medical centers
- APN
- 4114-0005-000
- APU
- 41140005000
Description
This exceptional investment opportunity presents a 3,900 square foot medical office building located at 54 Flag Lake Plaza, Lake Jackson, Texas 77566. The property boasts a fee-simple ownership structure with a single, long-standing tenant, Neret MD, operating under a triple-net (NNN) lease. Built in 1983 and extensively renovated in 2021, the building sits on a 0.38-acre lot (APN 4114-0005-000) and offers a desirable 8.75% cap rate with a current NOI of $78,000. The asking price is $891,429, translating to $228.57 per square foot. The lease includes three 3-year options, ensuring long-term income stability. The property benefits from a 100% occupancy rate and features annual lease increases of 3%, providing a hedge against inflation. Situated in the rapidly growing Houston MSA, this investment offers significant potential for appreciation, further enhanced by Texas's favorable tax environment (no state income tax on real estate investments). The average household income within a 3-mile radius is $91,969. This is a passive investment opportunity with minimal landlord responsibilities, ideal for both local and out-of-state investors seeking a strong return in a thriving market.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lake Jackson
- County
- Brazoria
- State
- Texas
- Longitude
- -95.4221
- Latitude
- 29.0183
- CBSA code
- 26420
- CBSA name
- HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA
