Listed by Partners - Austin
$2,200,000
Medical Office
Details
Property Type Office
Sub Type Medical Office
Square Footage 10,268
Cap Rate 7.33%
NOI $161,184
Occupancy 69%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Lease Options Two 5 Year
Pro-Forma Cap Rate 9.52%
Price per SqFt $214
Class B
Year Built 2008
Stories 2
Acreage 1.010
Investment Type Value Add
Office | 7.33% CAP | 10,268 SqFt
Marketing description
Partners is pleased to offer for sale 11721 Fuqua Street — a 10,268-square-foot, two-story medical office building in Southeast Houston, offered as a sale leaseback with South Belt Medical Clinic, the founding and only tenant since 2008.
South Belt occupies the 7,066-SF ground floor on a new 5-year NNN lease reimbursing 100% of property expenses. The upstairs 3,202 SF is in shell condition and available for an owner/user or new tenant — supplying immediate upside on a fully stabilized in-place return.
Investment highlights
- Long-Tenured, Owner-Operated Tenant - South Belt Medical Clinic has operated at this location since 2008, with founding physicians deeply embedded in the surrounding community. The tenant's decision to sell and leaseback is a direct signal of long-term locational commitment
- Dual Board-Certified Physicians - Both physicians serve as Medical Directors at area hospitals and rehabilitation facilities, driving consistent referrals and anchoring the practice well beyond a typical outpatient clinic. The platform spans internal medicine, wound care, obesity medicine, geriatric care, and palliative/hospice care.
- Immediate, Stabilized NNN Income - The NNN lease delivers strong in-place annual base rent with 3% annual escalations and two 5-year renewal options. A buyer steps into a fully occupied, income-producing asset on day one with zero landlord responsibilities.
- Dense Trade Area - The South Belt/Ellington submarket serves nearly 100,000 residents with a median age of 34 — a densely populated, underserved trade area with growing demand for accessible primary and specialty care. St. Luke's Health is visible from the site.
- Attractive Basis - The offering provides a compelling entry basis for a stabilized medical asset in the Houston MSA. The 31% vacant shell space represents a clear value-add opportunity — full stabilization at market rents would push returns well above the in-place cap rate.
Listing Contacts
Listed by Partners - Austin
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$161,184.00
$13,432.00/mo
Valuation Metrics
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DSCR
7.33%
Cap Rate
7.33%
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