Flex Space with Covered
For Sale
$750,000
504 Bolivar Street, Sanger, TX 76266
COMMERCIAL - Sanger, TX
Property Size3,760 SF
Lot Size0.23 Acres
Price / SF$199.47
Days on Market48
Property Features for 504 Bolivar Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Assigned
Subdivision
O T Sanger
Lot features
Corner Lot
Directions
GPS
Standard status
Active
APN
R58893
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
O T SANGER BLK 22 LOT 2
Tax Annual Amount
2482
Legal Description
O T SANGER BLK 22 LOT 2
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Flooring type
Concrete
Building materials
AluminumSiding
Roof type
Metal
Listing Agency:
TruHome Real Estate
(972) 299-3959
Listed By:
Lori Robinson · License #0638031
(977) 299-3939
Added: Jul 7
Changed: Aug 4
Last Checked: Aug 23 at 4:06AM
MLS# 21320283
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 flex space property includes two separate buildings totaling 3,760 square feet on a 0.23-acre lot. The main 2,400-square-foot building is built around expansive warehouse space with three overhead roll-up doors, along with a dedicated office area for day-to-day administration while maintaining direct warehouse access.
A second 1,360-square-foot building adds flexibility for office use, additional storage, showroom space, or support operations. Between and around the improvements, extensive under-canopy covered storage provides protected space for trailers, equipment, inventory, or outdoor work areas.
The property is served by public water and public sewer, with concrete flooring throughout the improvements. Constructed in 1980 with aluminum siding and a metal roof, it also offers a large concrete parking and loading area designed for customers, employees, deliveries, and fleet vehicles. Assigned parking is available on site.
A second 1,360-square-foot building adds flexibility for office use, additional storage, showroom space, or support operations. Between and around the improvements, extensive under-canopy covered storage provides protected space for trailers, equipment, inventory, or outdoor work areas.
The property is served by public water and public sewer, with concrete flooring throughout the improvements. Constructed in 1980 with aluminum siding and a metal roof, it also offers a large concrete parking and loading area designed for customers, employees, deliveries, and fleet vehicles. Assigned parking is available on site.
Key Highlights
- Total 3,760 SF across two separate buildings on 0.23 acres
- Main building offers expansive warehouse with three overhead roll‑up doors
- Dedicated office area with easy access to warehouse space
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
$52,283
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
6.97%
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%
$1,045,660
$1.0M
Cap Rate 7%
$746,900
$746.9K
Cap Rate 9%
$580,922
$580.9K
Market Conditions
NOI Build-Up for 3,760 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
$92.9K $24.72/SF
− Vacancy
−$23.2K −$6.18/SF
EGI
$69.7K $18.54/SF
− OpEx
−$17.4K −$4.64/SF
NOI
$52.3K $13.91/SF
Area
Denton County, TX
Vacancy
25.00%
Lease Rate
$24.72 /SF/Yr
Expense Ratio
25.00%
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%
$1,045,660
Cap Rate 7%
$746,900
Cap Rate 9%
$580,922
Alternative Uses
Best Use
Office B
$746.9K
$653.5K – $871.4K
NOI $52,283 @ 7.0% cap · market cap 6.97%
Second Best
Warehouse
$334.8K
$292.9K – $390.6K
NOI $23,435 @ 7.0% cap · market cap 3.12%
Theoretical Best
Multifamily LT 5
$52.58M
$46.01M – $61.35M
NOI $3,680,701 @ 7.0% cap · market cap 490.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76266, TX
16,779
Population
7,211
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
89%
High-School Grad
122.1 sq mi
ZIP Area
137
Density / Sq Mi
$95,603
Median Household Income
$49,622
Median Earnings
$1,345
Median Rent
$315,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space featuring a warehouse and office plus under-canopy covered storage and roll-up doors for equipment and operations.
Where is this flex space located?
The property is located at 504 Bolivar Street Sanger, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Total 3,760 SF across two separate buildings on 0.23 acres; Main building offers expansive warehouse with three overhead roll‑up doors; Dedicated office area with easy access to warehouse space
