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203 N College Ave 20,220 SF 100% Leased Office Building Cleveland, TX 77327 $3,953,586 CAD ($195.53 CAD/SF)
Executive Summary
We are pleased to present CPC Medical Plaza, a fully leased multi-tenant medical office investment located in Cleveland, Texas within the Houston metropolitan growth corridor. The property consists of approximately 19,110 square feet and is 100% occupied by a diversified mix of healthcare tenants, including a long-term pediatric anchor tenant with lease stability through 2041. The asset generates approximately $247,200 in annual income and is offered at $2,895,000, equating to approximately $151 per square foot. This pricing represents a discount to comparable medical office transactions across the Houston MSA, which are typically trading between $160 and $180 per square foot. The tenant mix includes pediatrics, cardiology, imaging, behavioral health, and general medical services, creating a stable and synergistic healthcare environment with strong long-term demand fundamentals. This offering presents an attractive opportunity for investors seeking a stabilized healthcare asset with immediate income, long-term tenancy, and the potential for rental upside through lease renewals and repositioning..
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Office
Property Subtype
Medical
Building Size
20,220 SF
Building Class
C
Year Built
1997
Price
$3,953,586 CAD
Price Per SF
$195.53 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
6,740 SF
Building FAR
0.54
Lot Size
0.86 AC
Opportunity Zone
Yes
Zoning
C
Parking
59 Spaces (3.06 Spaces per 1,000 SF Leased)
Amenities
- Natural Light
- Drop Ceiling
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 003240-000016-004 | Improvements Assessment | $1,662,363 CAD |
| Land Assessment | $242,746 CAD | Total Assessment | $1,905,109 CAD |
Property Taxes
Parcel Number
003240-000016-004
Land Assessment
$242,746 CAD
Improvements Assessment
$1,662,363 CAD
Total Assessment
$1,905,109 CAD
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Presented by
Rhonda Hicks
203 N College Ave
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