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Cardiology ASC | 11.7-Year NNN | 3% Increases 1240 Clear Lake City Blvd 15,807 SF Retail Building Houston, TX 77062 $8,000,000 ($506.10/SF) 6.61% Cap Rate
Investment Highlights
- Delivered in 2024, the property was repurposed to accommodate the tenant’s specialized cardiology services.
- According to ownership, the tenant invested approximately $3.2 million.
- The tenant signed an original 14-year lease in 2024, demonstrating its long-term commitment to the location.
- The facility features two operating rooms, enabling the tenant to perform a wide range of surgical procedures on-site.
- The facility is comprised of approximately 42% ASC, 28% OBL, and 30% administrative space.
Executive Summary
Patrick Graham
License # 9005919 (TX)
Matthews Real Estate Investment Services, Inc
8300 Douglas Ave., Ste. 750, Dallas, TX 75225
(866) 889-0550
*Andrew Fagundo, Michael Moreno, Tyler Swade and Rahul Chhajed (in conjunction with Matthews Real Estate Investment Services, Inc., a cooperating foreign broker for this listing pursuant to Section 535.4(b) of the Texas Administrative Code).
License # 9005919 (TX)
Matthews Real Estate Investment Services, Inc
8300 Douglas Ave., Ste. 750, Dallas, TX 75225
(866) 889-0550
*Andrew Fagundo, Michael Moreno, Tyler Swade and Rahul Chhajed (in conjunction with Matthews Real Estate Investment Services, Inc., a cooperating foreign broker for this listing pursuant to Section 535.4(b) of the Texas Administrative Code).
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
15,807 SF
Building Class
B
Year Built
2000
Price
$8,000,000
Price Per SF
$506.10
Cap Rate
6.61%
NOI
$528,800
Tenancy
Single
Building Height
2 Stories
Loading Docks
1 Exterior
Building FAR
0.33
Lot Size
1.11 AC
Zoning
None
Frontage
200’ on 1240 Clear Lake City Blvd
Amenities
- Mezzanine
- Security System
- Signage
- Drive Thru
- Accent Lighting
- Storage Space
- Monument Signage
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1168750050043 | Improvements Assessment | $4,679,083 |
| Land Assessment | $484,660 | Total Assessment | $5,163,743 |
Property Taxes
Parcel Number
1168750050043
Land Assessment
$484,660
Improvements Assessment
$4,679,083
Total Assessment
$5,163,743
Contacts
-
Andrew Fagundo -
Tyler Swade -
Kyle Mackulak -
Rahul Chhajed -
Michael Moreno -
Matthews Real Estate Investment Services
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