Five-Suite Office
For Sale
$1,200,000
529 W Wheatland Road, Duncanville, TX 75116
CommercialSale, Duncanville, TX
Property Size7,245 SF
Lot Size1.29 Acres
Price / SF$165.63
Days on Market87
Property Features for 529 W Wheatland Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Parking features
Off Street, Driveway, Parking Lot
Accessibility
Accessible Approach with Ramp
Subdivision
Wheatland West Office Park Rep
Lot features
Landscaped, Many Trees
Directions
Highway 67 Exit Main St. Head north on Main to W Wheatland Rd, turn left. Property will be on the right.
Standard status
Active
APN
221506000103A0000
Lot size
1.29 Acres
Taxes and HOA fees
Tax Description
WHEATLAND WEST OFFICE PARK REP BLK 1 LOT 3A A
Tax Annual Amount
10524
Legal Description
WHEATLAND WEST OFFICE PARK REP BLK 1 LOT 3A A
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1979
Floors in Building
1
Number of units
5
Flooring type
Linoleum, Carpet, Laminate, Vinyl
Building materials
Brick, WoodSiding
Roof type
Composition
Listing Agency:
CENTURY 21 Judge Fite Company · Century 21 Real Estate
(972) 723-8231
Listed By:
Jamie Wickliffe · License #0368339
(214) 920-9611
Added: Jun 5
Changed: Aug 21
Last Checked: Aug 30 at 10:06AM
MLS# 21015931
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 7,245-square-foot office property contains five separate suites configured for professional and medical-office use. Existing improvements include reception and waiting areas, front desks, private offices, exam rooms, break rooms, storage areas, and restrooms. Two suites are occupied, while three are vacant for leasing or expansion. The building was constructed in 1979 and includes central heating and central air conditioning.
Positioned along Wheatland Road, the property provides access to Highway 67 and Interstate 20. The 1.285-acre site includes off-street parking, a driveway, and a parking lot, along with signage opportunities identified in the source information. Mixed-use zoning, public water, public sewer, and an accessible approach with ramp support a range of professional office configurations.
Positioned along Wheatland Road, the property provides access to Highway 67 and Interstate 20. The 1.285-acre site includes off-street parking, a driveway, and a parking lot, along with signage opportunities identified in the source information. Mixed-use zoning, public water, public sewer, and an accessible approach with ramp support a range of professional office configurations.
Key Highlights
- 7,245 SF office property arranged into five distinct suites
- Two suites occupied; three suites vacant for leasing or expansion
- Professional layouts include waiting areas, exam rooms, offices, break rooms, and storage
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
$103,008
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
8.58%
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%
$2,060,160
$2.1M
Cap Rate 7%
$1,471,543
$1.5M
Cap Rate 9%
$1,144,533
$1.1M
Market Conditions
NOI Build-Up for 7,245 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
$188.7K $26.04/SF
− Vacancy
−$17.0K −$2.34/SF
EGI
$171.7K $23.70/SF
− OpEx
−$68.7K −$9.48/SF
NOI
$103.0K $14.22/SF
Area
Dallas County, TX
Vacancy
9.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
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%
$2,060,160
Cap Rate 7%
$1,471,543
Cap Rate 9%
$1,144,533
Alternative Uses
Best Use
Healthcare Medical
$1.47M
$1.29M – $1.72M
NOI $103,008 @ 7.0% cap · market cap 8.58%
Second Best
Office B
$1.47M
$1.28M – $1.71M
NOI $102,698 @ 7.0% cap · market cap 8.56%
Theoretical Best
Multifamily LT 5
$86.84M
$75.99M – $101.32M
NOI $6,079,030 @ 7.0% cap · market cap 506.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,325
Businesses Nearby
Explore this area
Business Placement
Demographics for 75116, TX
20,656
Population
7,041
Households
2.9
Avg Household Size
35
Median Age
17%
College-Educated
78%
High-School Grad
5.1 sq mi
ZIP Area
4,050
Density / Sq Mi
$60,835
Median Household Income
$40,841
Median Earnings
$1,400
Median Rent
$220,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office property with divided suites, existing occupancy, available space, and professional medical-office improvements.
Where is this office building located?
The property is located at 529 W Wheatland Road Duncanville, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 7,245 SF office property arranged into five distinct suites; Two suites occupied; three suites vacant for leasing or expansion; Professional layouts include waiting areas, exam rooms, offices, break rooms, and storage
