Office Unit Near FM
111 W 5th St, Justin, TX 76247
For Sale
$400,000
Pending
The space may accommodate office, retail, or medical use.
Property Size1,200 SF
Days on Market51
Property Features for 111 W 5th St
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Major League Realty, Inc.
Listed By:
Cathy Green · License TX #0542948
(940) 648-0382
Source:
Northtexashomeguide
Added: Sep 21
Changed: Nov 7
Last Checked: Oct 5 at 7:27PM
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 Major League Realty, Inc.
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Investment Insights
Based on property information with market context.
This 1,200-square-foot office unit was built in 2002. The stated use options include office, retail, and medical applications.
The property is across from the post office and is visible from FM 156. It is located at 111 W 5th St in Justin, Texas.
The property is across from the post office and is visible from FM 156. It is located at 111 W 5th St in Justin, Texas.
Key Highlights
- 1,200‑square‑foot office unit
- Built in 2002
- Across from the post office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,686
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,720
$333.7K
Cap Rate 7%
$238,371
$238.4K
Cap Rate 9%
$185,400
$185.4K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$29.7K $24.72/SF
− Vacancy
−$7.4K −$6.18/SF
EGI
$22.2K $18.54/SF
− OpEx
−$5.6K −$4.64/SF
NOI
$16.7K $13.91/SF
Area
Denton County, TX
Vacancy
25.00%
Lease Rate
$24.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,720
Cap Rate 7%
$238,371
Cap Rate 9%
$185,400
Alternative Uses
Best Use
Office B
$238.4K
$208.6K – $278.1K
NOI $16,686 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$422.1K
$369.4K – $492.5K
NOI $29,549 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
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Business Placement
Demographics for 76247, TX
17,178
Population
6,610
Households
2.6
Avg Household Size
36
Median Age
34%
College-Educated
97%
High-School Grad
74.4 sq mi
ZIP Area
231
Density / Sq Mi
$123,173
Median Household Income
$61,878
Median Earnings
$2,070
Median Rent
$372,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Denton County, TX
Properties on Market for Office Units in Denton County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - The space may accommodate office, retail, or medical use.
Where is this office unit located?
The property is located at 111 W 5th St Justin, 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: 1,200‑square‑foot office unit; Built in 2002; Across from the post office
