Properties For Sale

at 2407-2411 N Preston St

2407 - 2411 N Preston St AVAILABLE, Now

Floor Bldg

Size 66,500 SF

Type INDUSTRIAL

Lease Type NNN

Sublease No

- Total size: 66,500 SF - Large building: 62,500 SF - Small building: 4,000 SF - Years built: 1961, 1980, 1994 - Lot size: 3.21 Acres (139,827 SF) - Clear height: 14’-20’ - Parking: 30+ spaces - Dock high doors: 6 - Grade level doors: 1 - Power: 3-Phase, 240v 200amps - Easy access to I-45 & 287

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Listing Agency: The Jackson Company

Listed By: David Jackson · License #0276047 Show Phone

Source: Moodyscre

Added: Oct 10, 2023 Changed: Oct 7 Last Checked: Oct 23 at 9:48AM

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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 The Jackson Company

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Investment Insights

Based on property information with market context.

This property features a total size of 66,500 square feet, including a 62,500-square-foot large building and a 4,000-square-foot small building. Constructed in 1961, 1980, and 1994, the property sits on a 3.21-acre lot, equivalent to 139,827 square feet. The buildings offer clear heights ranging from 14 to 20 feet. Parking is available with 30+ spaces. The property includes six dock-high doors and one grade-level door. It is equipped with 3-Phase, 240v 200amps power. The location provides easy access to I-45 and 287, making it suitable for warehouse and distribution purposes.

Key Highlights

• Large building size: 62,500 SF
• Easy access to I‑45 & 287
• Significant lot size: 3.21 Acres (139,827 SF)

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$462,431

Cap Rate

8.81%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$9,248,620 $9.2M

Cap Rate 7%

$6,606,157 $6.6M

Cap Rate 9%

$5,138,122 $5.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 66,500 SF

Gross rent

$598.5K $9.00/SF

− Vacancy

−$54.5K −$0.82/SF

EGI

$544.0K $8.18/SF

− OpEx

−$81.6K −$1.23/SF

NOI

$462.4K $6.95/SF

Area

Ellis 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 Rate 5%

$9,248,620

Cap Rate 7%

$6,606,157

Cap Rate 9%

$5,138,122

Alternative Uses

Best Use

Warehouse

$6.61M

$5.78M – $7.71M (±1% cap)

NOI $462,431 @ 7.0% cap · market cap 8.81%

Second Best

Industrial

$4.92M

$4.31M – $5.75M (±1% cap)

NOI $344,723 @ 7.0% cap · market cap 6.57%

Theoretical Best

Multifamily LT 5

$725.62M

$634.92M – $846.56M (±1% cap)

NOI $50,793,721 @ 7.0% cap · market cap 967.50%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Warehouses

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

100

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - 66,500 SF warehouse and distribution property with I-45 access.

Where is this warehouse located?

The property is located at 2407-2411 N Preston St Ennis, TX.

What is the asking price?

The asking price for this property is $5,250,000.

What are key features of this property?

This property features: Large building size: 62,500 SF; Easy access to I‑45 & 287; Significant lot size: 3.21 Acres (139,827 SF)