Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    207 Masters Ave Wylie, TX 75098

    Sponsored
    For Lease
    $2,200 /Mo ($3 SF/Yr)

    Office - Wylie, TX

    Type:Office
    Lot size:
    0.17 Acres
    Days on Market:
    18
    Last Refresh:
    Jan 23 at 12:06 am

    Property Features for 207 Masters Ave

    General Information

    Property type
    Other
    Property subtype
    Office
    Standard status
    Active
    APN
    R116902000501
    Parking features
    Garage, On Street
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1961
    Flooring type
    Hardwood, Other, Vinyl
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Celia Montano

    Montano Real Estate (682) 615-2323

    Listing agent Celia Montano (682) 615-2323 License #0730678

    Listing date Jan 6, 2026

    MLS# 21106872 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Converted Office Space in Wylie

    This commercial property in Wylie, Texas, is located minutes from Downtown in an established neighborhood. Originally a residence, the building has been converted into a professional office space suitable for small businesses or growing teams seeking a personal workspace. The layout includes multiple private office rooms, a reception or waiting area, and a kitchen that serves as a staff break room. The flexible interior configuration can accommodate administrative operations, client consultations, or collaborative workspaces. A full bathroom is on-site. The freestanding building offers visibility and the opportunity for exterior signage. The surrounding area is accessible, with proximity to Hwy 78 and FM 544. Ample surface parking is available. The 0.172-acre lot is suited for professional service uses, including counseling and wellness practices, insurance, law, accounting, consulting, real estate, administrative offices, or boutique service providers seeking an independent environment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Wylie
    County
    Collin
    State
    Texas
    Longitude
    -96.537033
    Latitude
    33.013187

    Nearby Similar for Lease

    • $3,500 /Mo
      37,462 SF

      Commercial Office Space in Wylie, TX

      Versatile commercial office space suitable for various business ventures.
      520 Ballard Ave, Wylie, TX 75098
      View Details
    • $23 SF/Yr
      53,317 SF

      Retail Space in Wylie, Texas

      Retail space available for lease in Wylie, Texas.
      701 Highway 78 N, Wylie, TX 75098
      View Details
    • $12,500 /Mo
      87,120 SF

      Wylie Warehouse with Office Space

      Warehouse with office space available for lease in Wylie, TX.
      31 Steel Rd, Wylie, TX 75098
      View Details
    • $525 /Mo
      7,405 SF

      Victorian Office Suite in Wylie

      Private office space with natural light in a charming Victorian setting.
      211 Masters Ave, Wylie, TX 75098
      View Details
    • $13 SF/Yr
      13,504 SF

      New Industrial Flex Space Available

      Modern industrial flex space with convenient highway access in Wylie.
      1604 Martinez Ln, Wylie, TX 75098
      View Details
    • $525 /Mo
      7,405 SF

      Victorian Office Suite in Wylie

      Private office space in a charming, turn-of-the-century Victorian setting.
      211 Masters Ave, Wylie, TX 75098
      View Details
    • $2,798 /Mo
      64,077 SF

      Retail Space in Wylie, TX

      Retail space available for lease in Wylie, Texas.
      2771 W Fm 544, Wylie, TX 75098
      View Details
    • $2,850 /Mo
      87,120 SF

      Wylie Business Park Flex Space

      Flex suites available in thriving Wylie Business Park. No triple net!
      3332 State Highway 78 N, Wylie, TX 75098
      View Details
    • $9,000 /Mo
      32,670 SF

      Prime Dealership Location, No City Zoning

      High-traffic location, no city oversight, and a turnkey setup.
      2725 Aztec Trl, Wylie, TX 75098
      View Details
    • $9,000 /Mo
      32,670 SF

      Prime Dealership Location, Wylie, TX

      High-traffic location with no city oversight, turnkey setup for car dealership.
      2725 Aztec Trl, Wylie, TX 75098
      View Details
    • Contact for pricing
      8,150 SF

      Retail Space in Wylie, Texas

      New retail and restaurant spaces available in Wylie, Texas.
      1451 S Ballard Ave, Wylie, TX 75098
      View Details
    • $32 SF/Yr
      8,258 SF

      Northern Wylie Retail Center

      Prime multi-tenant retail space, high growth area.
      0 Country Clb Rd At Parker Rd, Wylie, TX 75098
      View Details

    FAQs

    What type of property is this?
    Office space - Professional office space in Wylie, converted from a residence.
    Where is this office space located?
    The property is located at 207 Masters Ave Wylie, TX.
    What is the lease rate?
    The lease rate is $3 SF/Yr.
    What are key features of this property?
    This property features: - Converted residential property offering a unique, non-corporate professional office space.; - Excellent visibility and exterior signage opportunities for business presence.; - Ample surface parking, a significant advantage over traditional office spaces.
    (682) 615-2323
    Request Owner's contact information
    207 Masters Ave Wylie, TX 75098
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    207 Masters Ave
    Wylie, TX 75098
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    207 Masters Ave Wylie, TX 75098
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Celia Montano
    Real Estate License ID: 0730678
    (682) 615-2323
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.