Flex Space with
For Sale
$998,000
1008 W Main St, Arlington, TX 76013
Versatile commercial property with open-span space, classrooms, parking, playground improvements, and storage buildings near Downtown Arlington.
Property Size5,332 SF
Price / SF$187.17
Days on Market35
Property Features for 1008 W Main St
General Information
Standard status
Active
Size
5,332 SF
Zoning
Form-Based Zoning District
Warehouse & Industrial
Warehouse Space
3,000 SF
Office Build-Out
2,400 SF
Amenities
secured playground
storage buildings
Building Details
Year Built
1968
Listing Agency:
Vanja Gaither, Broker
(214) 412-1120
Listed By:
Vanja Gaither
Source:
Heritance
Added: Jul 29
Changed: Aug 31
Last Checked: Aug 31 at 7:17PM
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 5,332-square-foot commercial property is currently arranged as a church and private school, combining an open-span warehouse gymnasium with attached office and classroom areas. The interior includes five classrooms or private offices, a reception lobby, administrative office, kitchenette, a private restroom serving the gymnasium, and two additional restrooms. Exterior improvements include ample parking, a secured playground with commercial-grade equipment, and two storage buildings. Constructed in 1968, the property is positioned within Arlington’s newly adopted Form-Based Zoning District. It is within walking distance of The University of Texas at Arlington and Downtown Arlington, where public and private redevelopment initiatives are planned. The layout supports continued institutional use or other permitted commercial applications, subject to verification with the City of Arlington.
Key Highlights
- 5,332 SF commercial property built in 1968
- Approximately 3,000 SF open‑span warehouse gymnasium with private restroom
- Attached office and classroom area with five classrooms or private offices
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
$82,539
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
8.27%
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%
$1,650,780
$1.7M
Cap Rate 7%
$1,179,129
$1.2M
Cap Rate 9%
$917,100
$917.1K
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
$128.0K $24.00/SF
− Vacancy
−$17.9K −$3.36/SF
EGI
$110.1K $20.64/SF
− OpEx
−$27.5K −$5.16/SF
NOI
$82.5K $15.48/SF
Area
Arlington, TX
Vacancy
14.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,650,780
Cap Rate 7%
$1,179,129
Cap Rate 9%
$917,100
Alternative Uses
Best Use
Office B
$1.18M
$1.03M – $1.38M
NOI $82,539 @ 7.0% cap · market cap 8.27%
Second Best
Industrial
$493.9K
$432.2K – $576.2K
NOI $34,572 @ 7.0% cap · market cap 3.46%
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
Under-served
Demand for This Use
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial property with open-span space, classrooms, parking, playground improvements, and storage buildings near Downtown Arlington.
Where is this flex space located?
The property is located at 1008 W Main St 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: 5,332 SF commercial property built in 1968; Approximately 3,000 SF open‑span warehouse gymnasium with private restroom; Attached office and classroom area with five classrooms or private offices
