Flex Space With Covered Work
New
For Sale
$400,000
10015 Fm 751, Quinlan, TX 75474
Commercial facility combining office functions, workshop capacity, storage, and paved-road access near Lake Tawakoni.
Property Size3,250 SF
Price / SF$123.08
Days on Market2
Property Features for 10015 Fm 751
General Information
Standard status
Active
Size
3,250 SF
Property subtype
Warehouse
Site & Location
Road Access
Yes
Utilities to Site
Yes
Building Details
Year Built
2015
Construction
steel frame
Listing Agency:
RE/MAX Landmark Rose
(903) 567-3100
Listed By:
Rene Jensen · License #0710720
(214) 532-6823
Source:
Lonestarluxuryrealty
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 4:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Landmark Rose
Investment Insights
Based on property information with market context.
Built in 2015, this flex property combines office and service areas with a metal workshop, covered work bays, and additional sheltered storage. The workshop includes steel framing, concrete flooring, overhead lighting, tall ceilings, built-in shelving, and multiple overhead doors. Office areas feature workstations, cabinetry, recessed lighting, ceiling fans, stained concrete floors, a restroom, and utility connections. Some interior areas remain available for final finish-out.
A concrete apron supports loading, equipment placement, materials handling, and outdoor work under cover. The property has direct access to FM 751 and is positioned near Lake Tawakoni in Quinlan, Texas. Its configuration supports a range of commercial operations requiring a combination of workspace, service functions, storage, and office capability.
A concrete apron supports loading, equipment placement, materials handling, and outdoor work under cover. The property has direct access to FM 751 and is positioned near Lake Tawakoni in Quinlan, Texas. Its configuration supports a range of commercial operations requiring a combination of workspace, service functions, storage, and office capability.
Key Highlights
- Flex property with office, service, workshop, and covered bay areas
- Metal workshop with concrete floors, tall ceilings, shelving, and multiple overhead doors
- Built in 2015
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
$23,829
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
5.96%
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%
$476,580
$476.6K
Cap Rate 7%
$340,414
$340.4K
Cap Rate 9%
$264,767
$264.8K
Market Conditions
NOI Build-Up for 3,250 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
$39.0K $12.00/SF
− Vacancy
−$2.3K −$0.72/SF
EGI
$36.7K $11.28/SF
− OpEx
−$12.8K −$3.95/SF
NOI
$23.8K $7.33/SF
Area
Hunt County, TX
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$476,580
Cap Rate 7%
$340,414
Cap Rate 9%
$264,767
Alternative Uses
Best Use
Industrial
$3.23M
$2.83M – $3.77M
NOI $226,058 @ 7.0% cap · market cap 56.51%
Second Best
Office B
$588.8K
$515.2K – $686.9K
NOI $41,216 @ 7.0% cap · market cap 10.30%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75474, TX
16,010
Population
7,115
Households
2.3
Avg Household Size
44
Median Age
17%
College-Educated
82%
High-School Grad
105.3 sq mi
ZIP Area
152
Density / Sq Mi
$66,299
Median Household Income
$35,770
Median Earnings
$1,101
Median Rent
$169,800
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?
Flex space - Commercial facility combining office functions, workshop capacity, storage, and paved-road access near Lake Tawakoni.
Where is this flex space located?
The property is located at 10015 Fm 751 Quinlan, TX.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Flex property with office, service, workshop, and covered bay areas; Metal workshop with concrete floors, tall ceilings, shelving, and multiple overhead doors; Built in 2015
