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    Property profile & analytics

    8929 Spg Cypress Rd Spring, TX 77379-3138

    • Medical offices
    • 7,416 SF
    • 1.64 lot acres
    OFF-MARKET
    Last Sale
    Dec 29, 2021
    Value Estimations
    $480,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3399449
    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

    • Dr. Andrew P. Kretschmer, MD / Emergency Care Physician
    • Total Point Emergency Center - Spring / Emergency Room / Emergency Care Service

    Property Details for 8929 Spg Cypress Rd

    Year built
    2014
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.64 lot acres
    Property size
    7,416 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    1238270010005
    APU
    1238270010005

    Description

    This exceptional investment opportunity presents a 6,625-square-foot medical office building in Spring, Texas, boasting a 7.25% cap rate and a substantial 16.2 years remaining on a triple-net lease with a credit tenant, Total Point ER. The property, located at 8929 Spring Cypress Rd, 77379, features 23 parking spaces and sits on a 1.64-acre lot. Built in 2014, this fee-simple owned building benefits from a 100% occupancy rate and a strong net operating income (NOI) of $519,153. The lease, commencing December 1, 2021, and expiring February 1, 2041, includes four 5-year renewal options and features 2% annual rent bumps, ensuring consistent income growth. The property is zoned for commercial use and enjoys excellent visibility and access along Spring Cypress Road (36,400 vehicles per day), situated within a dense retail corridor and close to numerous residential communities. The surrounding area boasts a population of 268,000 residents and 85,000 employees within a 5-mile radius, with an average household income of $124,829. This offering presents a rare chance to acquire a stable, high-performing asset in a thriving market with minimal landlord responsibilities. The asking price is $7,161,000, translating to $1,080.91 per square foot. The property's strong tenant, favorable lease terms, and prime location make it an ideal addition to any investment portfolio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $465,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $713,000
      Market price range: $346k - $714k

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

    Location Insight

    • Map
    • Local Demand
    City
    Spring
    County
    Harris
    State
    Texas
    Longitude
    -95.5564
    Latitude
    30.0305
    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
    2022
    $58,181
    $859,452
    $2,350,169
    $3,209,621
    -
    $859,452
    $2,350,169
    $3,209,621

    Comparable in this City

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    • Value Estimation
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      9316 Louetta Rd

      MEDICAL BUILDING • 11,428 SF
      9316 Louetta Rd, Spring, TX 77379-6520
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    • Value Estimation
      $375,000
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      17285 Stuebner Airline Rd

      MEDICAL BUILDING • 4,864 SF
      17285 Stuebner Airline Rd, Spring, TX 77379-6225
      View Details
    • Value Estimation
      $450,000
      7,096 SF

      19077 Champion Frst Dr

      MEDICAL BUILDING • 7,096 SF
      19077 Champion Frst Dr, Spring, TX 77379-8516
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    • Value Estimation
      $410,000
      5,405 SF

      8419 Louetta Rd

      MEDICAL BUILDING • 5,405 SF
      8419 Louetta Rd, Spring, TX 77379-6737
      View Details
    • Value Estimation
      $265,000
      1,375 SF

      7122 Worcester Dr Ste 1a

      MEDICAL BUILDING • 1,375 SF
      7122 Worcester Dr Ste 1a, Spring, TX 77379-7570
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      29,951 SF

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      Versatile Commercial Property in Spring, TX

      Unrestricted property suitable for office, medical, or service-based businesses.
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      Spring Cypress Freestanding Buildings

      Freestanding buildings ideal for office, medical, retail, or services.
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    • $850,000
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      Spring, TX Office Building - Owner/User

      4,050 sq ft Office, $850K, Great Location
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      Executive Office Building, Spring, TX

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      4,500 SF

      Executive Office Building for Sale

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    Similar Nearby for Lease

    • $22 SF/Yr
      29,238 SF

      Louetta Plaza Medical Office Space

      Spring, TX Medical Office Suites Available
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      View Details
    • $24 SF/Yr
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      Stables Town Center: Prime Spring Office Space

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      View Details
    • Contact for pricing
      19,873 SF

      Spring, TX Retail/Office Space

      19,873 SF Multi-Tenant Retail/Office Building
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      View Details
    • $13 SF/Yr
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      Spring, TX Medical Office Suites

      Two-story medical/office building, suites available.
      6620 Cypresswood Dr, Spring, TX 77379
      View Details
    • $18 SF/Yr
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      Spring Klein Medical Office Space

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      View Details
    • $20 SF/Yr
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      Spring Surgical Retail Plaza

      Medical Office Space for Lease in Spring, TX
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      View Details
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    Spring, TX 77379-3138
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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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