Finished Office
For Sale
Contact for pricing
1193 West John Carpenter Freeway, Irving, TX 75039
Configured with a central collaborative area and private perimeter offices for flexible workplace use.
Property Size4,700 SF
Price / SF$425.53
Days on Market115
Property Features for 1193 West John Carpenter Freeway
General Information
Standard status
Active
Size
4,700 SF
Property subtype
Office
Building Details
Units
2
Listing Agency:
Watson Commercial Realty
Listed By:
John Watson · License #TX 318174
Source:
Crexi
Added: May 8
Changed: Aug 30
Last Checked: Aug 30 at 2:50AM
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 Watson Commercial Realty
Investment Insights
Based on property information with market context.
This 4,700-square-foot office property features finished suites organized around an open central area. Private offices line the perimeter, creating a practical balance between shared workspace and enclosed rooms.
The property is located at 1193 West John Carpenter Freeway in Irving, Texas 75039. Its existing office configuration provides a defined layout for businesses seeking a combination of open space and individual offices.
The property is located at 1193 West John Carpenter Freeway in Irving, Texas 75039. Its existing office configuration provides a defined layout for businesses seeking a combination of open space and individual offices.
Key Highlights
- 4,700 square feet of finished office space
- Open area positioned at the center of the suites
- Private offices arranged around the perimeter
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
$63,281
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
3.16%
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%
$1,265,620
$1.3M
Cap Rate 7%
$904,014
$904.0K
Cap Rate 9%
$703,122
$703.1K
Market Conditions
NOI Build-Up for 4,700 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
$112.8K $24.00/SF
− Vacancy
−$28.4K −$6.05/SF
EGI
$84.4K $17.95/SF
− OpEx
−$21.1K −$4.49/SF
NOI
$63.3K $13.46/SF
Area
Irving, TX
Vacancy
25.20%
Lease Rate
$24.00 /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%
$1,265,620
Cap Rate 7%
$904,014
Cap Rate 9%
$703,122
Alternative Uses
Best Use
Office B
$904.0K
$791.0K – $1.05M
NOI $63,281 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.05M – $1.41M
NOI $84,374 @ 7.0% cap · market cap 4.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,602
Businesses Nearby
Explore this area
Business Placement
Demographics for 75039, TX
24,569
Population
13,286
Households
1.8
Avg Household Size
33
Median Age
76%
College-Educated
98%
High-School Grad
5.7 sq mi
ZIP Area
4,310
Density / Sq Mi
$102,366
Median Household Income
$79,104
Median Earnings
$1,812
Median Rent
$567,500
Median Home Value
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 - Configured with a central collaborative area and private perimeter offices for flexible workplace use.
Where is this office units located?
The property is located at 1193 West John Carpenter Freeway Irving, TX.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 4,700 square feet of finished office space; Open area positioned at the center of the suites; Private offices arranged around the perimeter
