Church and Private School
For Sale
$998,000
1008 W Main Street, Arlington, TX 76013
Adaptable institutional property with assembly space, classrooms, offices, parking, and secured outdoor play space.
Property Size5,332 SF
Days on Market9
Property Features for 1008 W Main Street
General Information
Standard status
Active
Size
5,332 SF
Property subtype
Commercial
Zoning
DT-FBZD-UN-5 (Form-Based Zoning District
Warehouse & Industrial
Clear Span
Yes
Warehouse Space
3,000 SF
Office Build-Out
2,400 SF
Amenities
secured playground
storage buildings
Building Details
Building Size
5,332 SF
Year Built
1968
Stories
1
Units
1
Listing Agency:
Vanja Gaither, Broker
(817) 449-8080
Listed By:
Vanja Gaither
(817) 449-8080
Source:
Cornerstonehomeandranch
Added: Aug 16
Changed: Aug 17
Last Checked: Aug 23 at 1:04PM
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 Vanja Gaither, Broker
Investment Insights
Based on property information with market context.
This church and private school facility combines an approximately 3,000 SF open-span gymnasium with an attached approximately 2,400 SF office and classroom area. The gymnasium includes a private restroom, while the adjoining space provides five classrooms or private offices, a reception lobby, administrative office, kitchenette, and two additional restrooms. The property also includes parking, a secured playground with commercial-grade equipment, and two storage buildings.
Located at 1008 W Main Street in Downtown Arlington, the property is within walking distance of The University of Texas at Arlington and downtown amenities. It is situated in the DT-FBZD-UN-5 Form-Based Zoning District. Arlington City Council has approved a $60 million redevelopment initiative for the surrounding area, including planned retail, restaurant, office, entertainment, and residential components. Zoning, permitted uses, redevelopment opportunities, and development requirements should be independently verified.
Located at 1008 W Main Street in Downtown Arlington, the property is within walking distance of The University of Texas at Arlington and downtown amenities. It is situated in the DT-FBZD-UN-5 Form-Based Zoning District. Arlington City Council has approved a $60 million redevelopment initiative for the surrounding area, including planned retail, restaurant, office, entertainment, and residential components. Zoning, permitted uses, redevelopment opportunities, and development requirements should be independently verified.
Key Highlights
- Approximately 3,000 SF open‑span gymnasium with private restroom
- Approximately 2,400 SF attached office and classroom area
- Five classrooms or private offices with reception and administrative areas
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
$34,572
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
3.46%
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%
$691,440
$691.4K
Cap Rate 7%
$493,886
$493.9K
Cap Rate 9%
$384,133
$384.1K
Market Conditions
NOI Build-Up for 5,332 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
$53.1K $9.96/SF
− Vacancy
−$3.7K −$0.70/SF
EGI
$49.4K $9.26/SF
− OpEx
−$14.8K −$2.78/SF
NOI
$34.6K $6.48/SF
Area
Arlington, TX
Vacancy
7.00%
Lease Rate
$9.96 /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%
$691,440
Cap Rate 7%
$493,886
Cap Rate 9%
$384,133
Alternative Uses
Best Use
Industrial
$493.9K
$432.2K – $576.2K
NOI $34,572 @ 7.0% cap · market cap 3.46%
Second Best
Flex RnD
$458.6K
$401.3K – $535.1K
NOI $32,103 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$1.57M
$1.38M – $1.83M
NOI $110,052 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,294
Businesses Nearby
Explore this area
Business Placement
Demographics for 76013, TX
36,535
Population
14,431
Households
2.5
Avg Household Size
32
Median Age
43%
College-Educated
91%
High-School Grad
9.0 sq mi
ZIP Area
4,059
Density / Sq Mi
$67,333
Median Household Income
$31,613
Median Earnings
$1,267
Median Rent
$287,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Adaptable institutional property with assembly space, classrooms, offices, parking, and secured outdoor play space.
Where is this church & religious facility located?
The property is located at 1008 W Main Street Arlington, TX.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Approximately 3,000 SF open‑span gymnasium with private restroom; Approximately 2,400 SF attached office and classroom area; Five classrooms or private offices with reception and administrative areas
