4600 Fairmont PkwyPasadena, TX 77504

For Sale
$4,273,000

Houston medical office building, strong tenant mix.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 17,636 square foot medical office building, located at 4600 Fairmont Pkwy, Pasadena, TX 77504, presents a compelling investment opportunity. The property boasts a prime location in a high-traffic area of Houston, with over 23,500 cars passing daily. Built in 2000, this multi-tenant building sits on a 1.31-acre lot and currently enjoys an 89.8% occupancy rate. The established tenant roster includes prominent names such as Advanced Dental Associates, Proactive Physical Therapy Centers, HCA Healthcare (Women's Associates OBGYN), and Success on the Spectrum. The property operates under a triple net lease (NNN) structure, featuring rent bumps within the primary lease terms and options, providing a stable income stream. The current NOI stands at $299,115, with a pro-forma NOI of $331,013, yielding a 7.00% cap rate and a pro-forma cap rate of 7.75%. The asking price is $4,273,000, translating to an attractive price per square foot of $242. A significant upside potential exists with the leasing of the remaining 1,800 square feet of vacant space. The surrounding area demonstrates strong demographics, with over 15,600 people residing within a one-mile radius, boasting an average income of $79,000. This property offers a blend of stability and growth potential, making it an ideal addition to any investment portfolio. Detailed rent roll information is available upon request.

Highlights

  • Sought-after medical office building investment opportunity in Houston, TX, anchored by HCA Healthcare.
  • High-traffic location on Fairmont Parkway, exceeding 23,500 cars daily.
  • Strong tenant mix including Advanced Dental Associates, Proactive Physical Therapy Centers, HCA Healthcare, and Success on the Spectrum.
  • Densely populated area with over 15,600 residents within one mile, averaging $79,000 annual income.
  • Triple-net lease (NNN) with built-in rent increases.
  • 1,800 SF of vacant space offers significant upside potential.

Property Details for 4600 Fairmont Pkwy

Property type
Other retail properties, Other office properties
Square Feet
17,636 SF
Year Built
2000
Lot Size (sq. ft)
57,064 SF

Location Insight

City
Pasadena
County
Harris
State
Texas
Latitude
29.649516057027
Longitude
-95.17388445829
4600 Fairmont Pkwy, Pasadena, Texas

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4600 Fairmont Pkwy
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