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TOPS Medical | Houston, TX 17030 Red Oak Dr 10,000 SF Office Building Houston, TX 77090 $4,000,000 ($400/SF) 7.50% Cap Rate
EXECUTIVE SUMMARY
Established Medical Tenant -
TOPS Surgical Specialty Hospital is a physician-owned inpatient and outpatient surgical specialty center designed to provide doctors with the medical equipment and surgical support they need to provide patient care.
Adjacent Hospital Ownership by Tenant -
The tenant also owns and operates the surgical hospital directly next door, highlighting long-term commitment and operational synergy in the immediate location.
Well Performing Tenant -
The company is generating over $24 million in EBITDA for 2024, showcasing financial strength and operational scale in the healthcare sector. TOPS has also expanded to 5 freestanding breast centers across Houston.
Long-Term Operating History -
The tenant has been operating successfully out of this location since 2005 and has invested in updating the interior.
E-Commerce Resistant Property -
Imaging centers are extremely sought-after investments for their resistance to downturns in the economy and e-commerce trends that affect traditional retail properties.
Underutilized Building with Upside Potential -
Property includes existing X-ray and imaging infrastructure that is currently installed but not in use, presenting a value-add or expansion upside for future operations.
Strong Market & Demographics -
The Houston metropolitan area has a population of roughly 7.9 million, making it the fifth-largest in the U.S. There is a population of over 111,000 within a 3-mile radius, over 293,000 in a 5-mile radius, and both are projected to grow within the next 5 years.
TOPS Surgical Specialty Hospital is a physician-owned inpatient and outpatient surgical specialty center designed to provide doctors with the medical equipment and surgical support they need to provide patient care.
Adjacent Hospital Ownership by Tenant -
The tenant also owns and operates the surgical hospital directly next door, highlighting long-term commitment and operational synergy in the immediate location.
Well Performing Tenant -
The company is generating over $24 million in EBITDA for 2024, showcasing financial strength and operational scale in the healthcare sector. TOPS has also expanded to 5 freestanding breast centers across Houston.
Long-Term Operating History -
The tenant has been operating successfully out of this location since 2005 and has invested in updating the interior.
E-Commerce Resistant Property -
Imaging centers are extremely sought-after investments for their resistance to downturns in the economy and e-commerce trends that affect traditional retail properties.
Underutilized Building with Upside Potential -
Property includes existing X-ray and imaging infrastructure that is currently installed but not in use, presenting a value-add or expansion upside for future operations.
Strong Market & Demographics -
The Houston metropolitan area has a population of roughly 7.9 million, making it the fifth-largest in the U.S. There is a population of over 111,000 within a 3-mile radius, over 293,000 in a 5-mile radius, and both are projected to grow within the next 5 years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
10,000 SF
Building Class
C
Year Built
2005
Price
$4,000,000
Price Per SF
$400
Cap Rate
7.50%
NOI
$300,000
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
5,000 SF
Building FAR
0.32
Lot Size
0.72 AC
Parking
34 Spaces (3.4 Spaces per 1,000 SF Leased)
1 1
Walk Score®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 1234880010005 | Improvements Assessment | $2,417,830 |
| Land Assessment | $181,613 | Total Assessment | $2,599,443 |
PROPERTY TAXES
Parcel Number
1234880010005
Land Assessment
$181,613
Improvements Assessment
$2,417,830
Total Assessment
$2,599,443
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TOPS Medical | Houston, TX | 17030 Red Oak Dr
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