Two-Story Flex
New
For Sale
$1,195,000
11298 Luna Road, Dallas, TX 75229
Corner-lot property with five offices and two first-floor bathrooms near several regional highways.
Property Size3,196 SF
Days on Market4
Property Features for 11298 Luna Road
General Information
Standard status
Active
Size
3,196 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$4,858
Building Details
Building Size
3,196 SF
Year Built
2007
Listing Agency:
Sonya Realty, LLC
Listed By:
Sonya Rafie · License #0330549
(972) 948-9200
Source:
Baerealty
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 4:50PM
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 Sonya Realty, LLC
Investment Insights
Based on property information with market context.
This two-story flex space contains approximately 3,190 square feet. The first floor includes three offices and two bathrooms, while the second floor provides two additional offices. The building was constructed in 2007 and sits on a lot measuring above 6500 SQFT.
The corner property is positioned near Hwy 635, 35 E, George Bush and 114. Its existing office layout and commercial building configuration support consideration for transportation, auto service, warehouse, storage and other business uses identified for the property.
The corner property is positioned near Hwy 635, 35 E, George Bush and 114. Its existing office layout and commercial building configuration support consideration for transportation, auto service, warehouse, storage and other business uses identified for the property.
Key Highlights
- Approximately 3,190 SQFT two‑story building
- Lot size above 6500 SQFT
- Five offices: three on the first floor and two upstairs
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
$51,425
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
4.30%
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%
$1,028,500
$1.0M
Cap Rate 7%
$734,643
$734.6K
Cap Rate 9%
$571,389
$571.4K
Market Conditions
NOI Build-Up for 3,196 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
$77.1K $24.12/SF
− Vacancy
−$3.6K −$1.13/SF
EGI
$73.5K $22.99/SF
− OpEx
−$22.0K −$6.90/SF
NOI
$51.4K $16.09/SF
Area
Dallas, TX
Vacancy
4.70%
Lease Rate
$24.12 /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%
$1,028,500
Cap Rate 7%
$734,643
Cap Rate 9%
$571,389
Alternative Uses
Best Use
Retail
$734.6K
$642.8K – $857.1K
NOI $51,425 @ 7.0% cap · market cap 4.30%
Second Best
Flex RnD
$400.6K
$350.6K – $467.4K
NOI $28,045 @ 7.0% cap · market cap 2.35%
Theoretical Best
Office A
$3.83M
$3.36M – $4.47M
NOI $268,446 @ 7.0% cap · market cap 22.46%
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
655
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75229, TX
33,168
Population
12,542
Households
2.6
Avg Household Size
37
Median Age
50%
College-Educated
81%
High-School Grad
12.4 sq mi
ZIP Area
2,675
Density / Sq Mi
$121,381
Median Household Income
$52,169
Median Earnings
$1,522
Median Rent
$598,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- D&S Catering Inc — 2261 Crown Rd #111, Dallas, TX 75229
- Smokin’ Joe’s — 2261 Crown Rd, Dallas, TX 75229
- CASUAL CATERING — 2251 Crown Rd, Dallas, TX 75229
Frequently Asked Questions
What type of property is this?
Flex space - Corner-lot property with five offices and two first-floor bathrooms near several regional highways.
Where is this flex space located?
The property is located at 11298 Luna Road Dallas, TX.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Approximately 3,190 SQFT two‑story building; Lot size above 6500 SQFT; Five offices: three on the first floor and two upstairs
