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    198 Brothers Boulevard, Red Oak, TX 75154

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    For Lease
    $1,900/Mo $7 SF/Yr (calc)

    COMMERCIAL - Red Oak, TX

    Type:Office
    Property size:
    3,000 SF
    Lot size:
    0.95 Acres
    Added:
    Mar 3, 2026
    Days on Market:
    92
    Last Refresh:
    Jun 3 at 10:06 am

    Property Features for 198 Brothers Boulevard

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    208341
    Lot size
    0.95 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2006
    Floors in Building
    1
    Number of units
    8
    Flooring type
    Vinyl, Carpet
    Building materials
    Brick
    Roof type
    Metal

    We can help!

    Listing Contact
    Caleb Bates

    Listing agent Caleb Bates

    Listing office Bates Real Estate, LLC TX

    Listing date Mar 3, 2026

    MLS# 21139697

    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.

    HighLights

    • Two‑building commercial property built in 2006 with brick construction and a metal roof
    • Available suites range from 1,500 to 3,000 SF for office and/or warehouse use
    • Central heating and central air throughout, with vinyl and carpet flooring
    • Public water and public sewer services
    • Parking lot on‑site with access designed for easy client and tenant flow
    • Direct access to I‑35 and located at 198 Brothers Blvd in Red Oak, TX

    Overview

    Now leasing at 198 Brothers Boulevard in Red Oak, Texas, this two-building flex property offers highly functional suites ranging from 1,500 to 3,000 SF. The building is designed with modern construction and flexible layouts that can support office, showroom, or light industrial use. Recent upgrades include new irrigation and landscaping, helping maintain an attractive, well-kept site.

    The property is positioned in a fast-growing DFW submarket and is built for convenient customer and employee access. Leasing tenants benefit from excellent visibility and direct access to I-35, along with ample on-site parking for day-to-day operations and client visits.

    With adaptable space planning and a mix of potential use cases, these suites are a practical fit for businesses that need both a functional office presence and straightforward space for warehouse or light industrial activity. Tenants looking for a modern, upgrade-supported environment with strong regional access should find the layout and site amenities well suited to a variety of operating models.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Appe'Teaser Catering — 421 Buckskin Dr, Red Oak, TX 75154

    Location Insight

    • Map
    • Local Demand
    City
    Red Oak
    County
    Ellis
    State
    Texas
    Longitude
    -96.820174
    Latitude
    32.51545

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    FAQs

    What type of property is this?
    Flex space - Modern two-building flex campus with adaptable office and warehouse layouts, visibility, I-35 access, and ample parking.
    Where is this flex space located?
    The property is located at 198 Brothers Boulevard Red Oak, TX.
    What is the lease rate?
    The lease rate is $1,900 /Mo.
    What are key features of this property?
    This property features: Two‑building commercial property built in 2006 with brick construction and a metal roof; Available suites range from 1,500 to 3,000 SF for office and/or warehouse use; Central heating and central air throughout, with vinyl and carpet flooring
    (214) 630-7077
    We can help!
    Listing Contact
    Caleb Bates
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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