Office Unit Near FM
New
For Sale
$400,000
111 W 5th St, Justin, TX 76247
The space may accommodate office, retail, or medical use.
Property Size1,200 SF
Price / SF$333.33
Days on Market7
Property Features for 111 W 5th St
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Commercial
Building Details
Year Built
2002
Listing Agency:
Major League Realty, Inc.
Listed By:
Cathy Green (940) 648-0382 · License #0542948
(940) 648-0382
Source:
Northtexashomeguide
Added: Sep 20
Changed: Sep 24
Last Checked: Sep 24 at 1:55PM
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.
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 = 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
$16,686
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
4.17%
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%
$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
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
$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 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%
$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
Multifamily LT 5
$16.78M
$14.68M – $19.58M
NOI $1,174,692 @ 7.0% cap · market cap 293.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - The space may accommodate office, retail, or medical use.
Where is this office units 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
