Gated Flex Space with
New
For Sale
$524,900
1520 Southeast Parkway, Azle, TX 76020
CommercialSale, Azle, TX
Property Size4,180 SF
Lot Size0.76 Acres
Price / SF$125.57
Days on Market2
Property Features for 1520 Southeast Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Heavy Commercial
Parking features
Garage, Open, Gated
Security features
Security
Subdivision
CASTLE HILLS ESTATES LOT 17A
Lot features
Back Yard, Lawn, Many Trees
Directions
SEE GPS.
Standard status
Active
APN
00453390
Size
4,180 SF
Lot size
0.76 Acres
Taxes and HOA fees
Tax Annual Amount
8083
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Natural Gas, Central
Cooling system
Central Air, Zoned, Electric
Water source
Public
Building Details
Year built
1996
Floors in Building
1
Number of units
2
Flooring type
Tile, Concrete, Vinyl
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
HH Realty
Listed By:
Michelle Herron
(469) 321-3468
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 11 at 3:06AM
MLS# 21364086
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,180-square-foot flex property combines office, workshop, and yard components on a 0.7639-acre site. The primary metal building includes a reception area, full bathroom, kitchenette, two private offices, and adaptable interior space for additional work or meeting functions. Its rear workshop measures approximately 45' X 40', has 12' ceilings, and is served by a 10' roll-up door.
A second metal building provides roughly 900 square feet, spray-foam insulation, and two 12' roll-up doors. The property also includes concrete slabs, gated and open parking, fenced access, metal roofing, public water, and public sewer. Zoned Heavy Commercial by the City of Azle, the site is located at 1520 Southeast Parkway with access to the frontage road near Jacksboro Highway.
Built in 1996, the buildings feature tile, vinyl, and concrete flooring, along with central, zoned heating and cooling. Natural gas heating and electric cooling are also present.
A second metal building provides roughly 900 square feet, spray-foam insulation, and two 12' roll-up doors. The property also includes concrete slabs, gated and open parking, fenced access, metal roofing, public water, and public sewer. Zoned Heavy Commercial by the City of Azle, the site is located at 1520 Southeast Parkway with access to the frontage road near Jacksboro Highway.
Built in 1996, the buildings feature tile, vinyl, and concrete flooring, along with central, zoned heating and cooling. Natural gas heating and electric cooling are also present.
Key Highlights
- 4,180‑square‑foot flex property on 0.7639 acres
- Main building includes reception, kitchenette, two private offices, and full bathroom
- Approximately 45' X 40' workshop with 12' ceilings and a 10' roll‑up door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,648
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$612,960
$613.0K
Cap Rate 7%
$437,829
$437.8K
Cap Rate 9%
$340,533
$340.5K
Market Conditions
NOI Build-Up for 4,180 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$50.2K $12.00/SF
− Vacancy
−$3.0K −$0.72/SF
EGI
$47.2K $11.28/SF
− OpEx
−$16.5K −$3.95/SF
NOI
$30.6K $7.33/SF
Area
Parker County, TX
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$612,960
Cap Rate 7%
$437,829
Cap Rate 9%
$340,533
Alternative Uses
Best Use
Industrial
$4.15M
$3.63M – $4.85M
NOI $290,745 @ 7.0% cap · market cap 55.39%
Second Best
Flex RnD
$437.8K
$383.1K – $510.8K
NOI $30,648 @ 7.0% cap · market cap 5.84%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12 ft
Clear height
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76020, TX
33,469
Population
13,355
Households
2.5
Avg Household Size
42
Median Age
20%
College-Educated
89%
High-School Grad
64.9 sq mi
ZIP Area
516
Density / Sq Mi
$91,000
Median Household Income
$48,559
Median Earnings
$1,246
Median Rent
$272,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Secure, fenced commercial property with office accommodations, workshop capacity, and additional yard area for business operations.
Where is this flex space located?
The property is located at 1520 Southeast Parkway Azle, TX.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: 4,180‑square‑foot flex property on 0.7639 acres; Main building includes reception, kitchenette, two private offices, and full bathroom; Approximately 45' X 40' workshop with 12' ceilings and a 10' roll‑up door
