Everman Warehouse with Covered
For Sale
Contact for pricing
1028 E Enon Ave, Everman, TX 76140
5,600 SF warehouse with covered workspace near I-35W.
Property Size5,600 SF
Price / SF$87.50
Days on Market173
Property Features for 1028 E Enon Ave
General Information
Standard status
Active
Size
5,600 SF
Class
D
Property subtype
Industrial
Investment Type
Owner/User
Building Details
Year Built
1983
Buildings
5
Tenancy
Single
Listing Agency:
DFW Commercial
(949) 210-0886
Listed By:
Samantha Cannon · License #0678630
Source:
Crexi
Added: Mar 6
Changed: Aug 17
Last Checked: Aug 25 at 3:23PM
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 DFW Commercial
Investment Insights
Based on property information with market context.
This 5,600 SF warehouse in Everman, TX, offers a prime industrial opportunity. The property includes two large, open metal structures, one measuring 20' x 80' and another 60' x 60', providing covered workspace. Equipped with a paint booth, this property is suitable for equipment storage, auto equipment, auto restoration, metal fabrication, and truck parking. Its location provides fast access to I-35W and I-20, and is approximately 30 minutes from downtown Fort Worth.
Key Highlights
- 5,600 SF warehouse with additional covered workspace.
- Equipped with a paint booth.
- Ideal for equipment storage, auto restoration, metal fabrication, and truck parking.
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
$38,942
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
7.95%
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%
$778,840
$778.8K
Cap Rate 7%
$556,314
$556.3K
Cap Rate 9%
$432,689
$432.7K
Market Conditions
NOI Build-Up for 5,600 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
$50.4K $9.00/SF
− Vacancy
−$4.6K −$0.82/SF
EGI
$45.8K $8.18/SF
− OpEx
−$6.9K −$1.23/SF
NOI
$38.9K $6.95/SF
Area
Tarrant County, TX
Vacancy
9.10%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$778,840
Cap Rate 7%
$556,314
Cap Rate 9%
$432,689
Alternative Uses
Best Use
Retail
$1.33M
$1.16M – $1.55M
NOI $92,951 @ 7.0% cap · market cap 18.97%
Second Best
Warehouse
$556.3K
$486.8K – $649.0K
NOI $38,942 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,894 @ 7.0% cap · market cap 28.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 76140, TX
32,623
Population
10,705
Households
3
Avg Household Size
32
Median Age
18%
College-Educated
79%
High-School Grad
27.3 sq mi
ZIP Area
1,195
Density / Sq Mi
$73,215
Median Household Income
$37,780
Median Earnings
$1,590
Median Rent
$207,800
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?
Warehouse - 5,600 SF warehouse with covered workspace near I-35W.
Where is this warehouse located?
The property is located at 1028 E Enon Ave Everman, TX.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 5,600 SF warehouse with additional covered workspace.; Equipped with a paint booth.; Ideal for equipment storage, auto restoration, metal fabrication, and truck parking.
