Land with Metal Shop Living
For Sale
$499,999
806 Old Base Road, Aurora, TX 76078
Land, Aurora, TX
Property Size2,400 SF
Lot Size6.12 Acres
Price / SF$208.33
Days on Market97
Property Features for 806 Old Base Road
General Information
Property type
Land
Property subtype
Other
Vegetation
Cleared
Subdivision
Dr Fought Surv Abs #314
Lot features
Acreage
Elementary school
Sevenhills
Middle school
Chisholmtr
High school
Northwest
Elementary school district
Northwest ISD
Middle school district
Northwest ISD
High school district
Northwest ISD
Directions
GPS Friendly
Standard status
Active
APN
737421
Lot size
6.12 Acres
Taxes and HOA fees
Tax Description
A-314 DR FOUGHT 6.1200 ACRES
Tax Annual Amount
3281
Legal Description
A-314 DR FOUGHT 6.1200 ACRES
Utilities
Sewer type
Septic Tank
Water source
Well
Building Details
Year built
1993
Architectural style
Other
Listing Agency:
6th Ave Homes
(817) 631-9803
Listed By:
Angela Webster · License #0704645
(817) 239-1896
Added: Jun 4
Changed: Sep 4
Last Checked: Sep 8 at 11:06AM
MLS# 21272832
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 property is a versatile land tract within the Aurora city limits, anchored by a metal shop building that includes on-site living quarters. The shop has approximately 2,400 square feet of space, along with about 950 square feet of living area. The living quarters will require some TLC. The land is described as level with usable terrain, and the property is currently ag exempt.
The tract is positioned on an all-weather road and has an existing well and septic in place. City water and sewer are noted as being nearby, and the property is within Northwest ISD. The offering is presented as suitable for a range of uses including horses and livestock, with additional flexibility for workshops, equipment storage, and recreational or multi-generational living arrangements.
The tract is positioned on an all-weather road and has an existing well and septic in place. City water and sewer are noted as being nearby, and the property is within Northwest ISD. The offering is presented as suitable for a range of uses including horses and livestock, with additional flexibility for workshops, equipment storage, and recreational or multi-generational living arrangements.
Key Highlights
- 6.12‑acre property in Aurora city limits with level, flat topography
- Includes a 2,400 SF metal shop building with approximately 950 SF of living quarters
- Current well and septic tank in place; ag exempt
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
$24,300
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
4.86%
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%
$486,000
$486.0K
Cap Rate 7%
$347,143
$347.1K
Cap Rate 9%
$270,000
$270.0K
Market Conditions
NOI Build-Up for 2,400 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
$43.2K $18.00/SF
− Vacancy
−$4.3K −$1.80/SF
EGI
$38.9K $16.20/SF
− OpEx
−$14.6K −$6.07/SF
NOI
$24.3K $10.13/SF
Area
Wise County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$486,000
Cap Rate 7%
$347,143
Cap Rate 9%
$270,000
Alternative Uses
Best Use
Mixed Use
$347.1K
$303.8K – $405.0K
NOI $24,300 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$1.81M
$1.58M – $2.11M
NOI $126,540 @ 7.0% cap · market cap 25.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 76078, TX
9,979
Population
3,540
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
87%
High-School Grad
64.2 sq mi
ZIP Area
155
Density / Sq Mi
$94,379
Median Household Income
$42,853
Median Earnings
$1,574
Median Rent
$278,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Land tract with a metal shop and on-site living quarters, plus existing well and septic systems.
Where is this residential land & home lot located?
The property is located at 806 Old Base Road Aurora, TX.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: 6.12‑acre property in Aurora city limits with level, flat topography; Includes a 2,400 SF metal shop building with approximately 950 SF of living quarters; Current well and septic tank in place; ag exempt
