Flex Building with Covered
For Sale
$699,900
9920 Wesley Street, Greenville, TX 75402
CommercialSale, Greenville, TX
Property Size2,800 SF
Lot Size1.45 Acres
Price / SF$249.96
Days on Market63
Property Features for 9920 Wesley Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Gated, Carport
Subdivision
New Deal Place Final
Lot features
Acreage, Back Yard, Cleared, Interior Lot, Lawn, Level
Directions
Wesley St. south just past FM 1570 intersection on the right.
Standard status
Active
APN
100182
Lot size
1.45 Acres
Taxes and HOA fees
Tax Description
S4171 NEW DEAL PLACE FINAL PLAT BLK 1 LOT 1R
Tax Annual Amount
6457
Legal Description
S4171 NEW DEAL PLACE FINAL PLAT BLK 1 LOT 1R
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air, Electric
Amenities
office space
covered overhang
gated entrance
Building Details
Year built
1987
Floors in Building
1
Number of units
2
Flooring type
Concrete
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Century 21 First Group · Century 21 Real Estate
(903) 455-5852
Listed By:
Holly Gray · License #0457861
(903) 885-3146
Added: Jul 3
Changed: Sep 2
Last Checked: Sep 3 at 12:06PM
MLS# 21320088
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 property includes a 2,800-square-foot commercial building on approximately 1.45 acres. The structure has office space, concrete flooring, metal siding, and a metal roof, with central electric heating and cooling. A covered overhang of approximately 1,400 square feet expands the usable area for vehicle parking, equipment storage, or exterior work. The site also includes a parking lot, additional concrete areas, partial fencing, and a gated driveway entrance.
Located at 9920 Wesley Street in Greenville, the property fronts Highway 34 South and provides access for customers and deliveries. Utility service includes city water, electricity, and a septic system. The building previously operated as a window tint shop and is described as suitable for automotive services, retail, warehouse, light industrial, and contractor operations.
Located at 9920 Wesley Street in Greenville, the property fronts Highway 34 South and provides access for customers and deliveries. Utility service includes city water, electricity, and a septic system. The building previously operated as a window tint shop and is described as suitable for automotive services, retail, warehouse, light industrial, and contractor operations.
Key Highlights
- 2,800‑square‑foot commercial building on approximately 1.45 acres
- Approximately 1,400‑square‑foot covered overhang
- Frontage along Highway 34 South in Greenville
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
$45,053
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
6.44%
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%
$901,060
$901.1K
Cap Rate 7%
$643,614
$643.6K
Cap Rate 9%
$500,589
$500.6K
Market Conditions
NOI Build-Up for 2,800 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
$67.5K $24.12/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$64.4K $22.99/SF
− OpEx
−$19.3K −$6.90/SF
NOI
$45.1K $16.09/SF
Area
Hunt County, 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%
$901,060
Cap Rate 7%
$643,614
Cap Rate 9%
$500,589
Alternative Uses
Best Use
Industrial
$2.78M
$2.43M – $3.25M
NOI $194,758 @ 7.0% cap · market cap 27.83%
Second Best
Retail
$643.6K
$563.2K – $750.9K
NOI $45,053 @ 7.0% cap · market cap 6.44%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75402, TX
18,983
Population
8,024
Households
2.4
Avg Household Size
41
Median Age
32%
College-Educated
93%
High-School Grad
90.8 sq mi
ZIP Area
209
Density / Sq Mi
$77,602
Median Household Income
$46,076
Median Earnings
$1,414
Median Rent
$252,500
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Highway 34 frontage, office space, gated access, and utility service support a range of commercial operations.
Where is this flex space located?
The property is located at 9920 Wesley Street Greenville, TX.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 2,800‑square‑foot commercial building on approximately 1.45 acres; Approximately 1,400‑square‑foot covered overhang; Frontage along Highway 34 South in Greenville
