Automotive Property with Service
For Sale
$1,250,000
2623 S Garland Avenue, Garland, TX 75041
CommercialSale, Garland, TX
Property Size4,486 SF
Lot Size0.42 Acres
Price / SF$278.64
Days on Market64
Property Features for 2623 S Garland Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Motor vehicle and related uses
Parking features
Garage, Covered, Carport, Parking Lot, Alley
Subdivision
Westchester Village
Directions
From I635 Exit Garland Ave, go North on Garland Ave, past Kinsley to the left before Miller.
Standard status
Active
APN
26664500000050000
Size
4,486 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Description
WESTCHESTER VILLAGE LOT 5
Tax Annual Amount
5598
Legal Description
WESTCHESTER VILLAGE LOT 5
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1951
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Concrete
Building materials
AluminumSiding, Brick
Roof type
Mixed
Listing Agency:
Ultima Real Estate
(972) 980-9393
Listed By:
Lorena Williamson · License #0515992
(214) 274-2525
Added: Jul 9
Changed: Sep 2
Last Checked: Sep 10 at 12:06PM
MLS# 21155882
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 automotive property combines customer-facing office space, vehicle storage, and mechanical service improvements across two included addresses. The 4,486-square-foot improvements include a 1,710-square-foot office building with a restroom, a 1,276-square-foot three-car garage with additional restroom facilities, and a 1,500-square-foot mechanic shop with its own office, restroom, and two-car garage. The shop includes a vehicle lift, while the buildings offer concrete and vinyl flooring, central air, central heating, and natural gas service.
The property occupies approximately 0.42 acres along S. Garland Avenue in Garland, Texas. Site features include a parking lot, covered parking, garage, carport, and alley access. Public water and public sewer serve the property. Built in 1951, the improvements are suited to an automotive operation requiring office, storage, and repair functions in one location.
The property occupies approximately 0.42 acres along S. Garland Avenue in Garland, Texas. Site features include a parking lot, covered parking, garage, carport, and alley access. Public water and public sewer serve the property. Built in 1951, the improvements are suited to an automotive operation requiring office, storage, and repair functions in one location.
Key Highlights
- 4,486 square feet of improvements across two included addresses
- Approximately 0.42 acres along S. Garland Avenue in Garland, TX
- 1,710‑square‑foot office building with dedicated restroom
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
$72,182
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
5.77%
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%
$1,443,640
$1.4M
Cap Rate 7%
$1,031,171
$1.0M
Cap Rate 9%
$802,022
$802.0K
Market Conditions
NOI Build-Up for 4,486 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
$108.2K $24.12/SF
− Vacancy
−$5.1K −$1.13/SF
EGI
$103.1K $22.99/SF
− OpEx
−$30.9K −$6.90/SF
NOI
$72.2K $16.09/SF
Area
Garland, TX
Vacancy
4.70%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
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%
$1,443,640
Cap Rate 7%
$1,031,171
Cap Rate 9%
$802,022
Alternative Uses
Best Use
Retail
$1.03M
$902.3K – $1.20M
NOI $72,182 @ 7.0% cap · market cap 5.77%
Second Best
Industrial
$404.4K
$353.8K – $471.8K
NOI $28,305 @ 7.0% cap · market cap 2.26%
Theoretical Best
Office A
$5.38M
$4.71M – $6.28M
NOI $376,798 @ 7.0% cap · market cap 30.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 75041, TX
32,219
Population
10,378
Households
3.1
Avg Household Size
33
Median Age
15%
College-Educated
70%
High-School Grad
7.9 sq mi
ZIP Area
4,078
Density / Sq Mi
$68,692
Median Household Income
$35,027
Median Earnings
$1,368
Median Rent
$214,600
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 Retail in South region
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- Bright Truck Leasing — 3115 Denton Dr, Garland, TX 75041
- Galaviz Trailer Rental — 2905 S Shiloh Rd, Garland, TX 75041
Frequently Asked Questions
What type of property is this?
Automotive property - Integrated automotive site with office space, covered storage, and an on-site mechanic shop with lift-equipped garage.
Where is this automotive property located?
The property is located at 2623 S Garland Avenue Garland, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 4,486 square feet of improvements across two included addresses; Approximately 0.42 acres along S. Garland Avenue in Garland, TX; 1,710‑square‑foot office building with dedicated restroom
