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6051 Garth #300 Rd - Commercial Medical Office Condo 3,920 SF Health Care Building Offered at $999,999 at a 8.85% Cap Rate in Baytown, TX 77521
INVESTMENT HIGHLIGHTS
- Excellent Investment Opportunity! Income Producing, profitable leased commercial location
- 3920 sq.ft. Individually owned/operated attached commercial condo
- Great CAP Rate of 8.854% which includes NNN and owner paid commercial condo fees
- Fully leased to single tenant for 7 years with 2 5-yr renewal options
- High Visibility location on Garth Road w/in 1 mile from I-10 and 1.8 miles from Baytown Methodist Hospital
- Reception, offices, bathrooms
EXECUTIVE SUMMARY
Leased property with 7 year lease with tenant renewal options through year 17. Lease start date Jan 10, 2024 running through Jan 10 2031 with 2 5-year renewal periods through Jan 10 2041. Average lease amount is $7800/month NNN. Tenant pays own utilities and cap rate is exclusive of taxes/insurance/maintenance as those are paid by tenant. Lease rate escalates each year with final year at $9,193/month. Property consists of a commercial condo - 3920 sq.ft. in a 1-story medical strip center with high visibility on Garth Rd only 1 mile from I-10.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$93,600
|
$23.88
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$5,057
|
$1.29
|
| Net Operating Income |
$88,543
|
$22.59
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $93,600 |
| Annual Per SF | $23.88 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $5,057 |
| Annual Per SF | $1.29 |
| Net Operating Income | |
|---|---|
| Annual | $88,543 |
| Annual Per SF | $22.59 |
PROPERTY FACTS Under Contract
AMENITIES
- Wheelchair Accessible
- Smoke Detector
ROOM MIX INFORMATION
| DESCRIPTION | NO. BEDS |
|---|---|
| Medical Space - Leased | 0 |
PROPERTY TAXES
| Parcel Number | 1334680000004 | Improvements Assessment | $612,980 (2025) |
| Land Assessment | $135,252 (2025) | Total Assessment | $748,232 (2025) |
PROPERTY TAXES
Parcel Number
1334680000004
Land Assessment
$135,252 (2025)
Improvements Assessment
$612,980 (2025)
Total Assessment
$748,232 (2025)
CONTACT
-
Norman Frenk -
Gary Greene Commercial Real Estate
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6051 Garth #300 Rd - Commercial Medical Office Condo
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