Denton Redevelopment
For Sale
$2,700,000
2229 N Carroll Blvd, Denton, TX 76201
53,000 SF facility on 5 acres in Denton, TX.
Property Size53,000 SF
Lot Size4.99 Acres
Price / SF$50.94
Days on Market491
Property Features for 2229 N Carroll Blvd
General Information
Standard status
Active
Size
53,000 SF
Lot size
4.99 Acres
Taxes and HOA fees
Annual Taxes
$58,952
Listing Agency:
CUDD REALTY
(940) 484-0036
Listed By:
MARIELLA CUDD · License #0370753
(940) 484-0036
Source:
Exprealty
Added: Apr 19, 2025
Changed: Aug 20
Last Checked: Aug 21 at 12:00PM
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 CUDD REALTY
Investment Insights
Based on property information with market context.
Located at 2229 N Carroll Blvd in Denton, TX, this property presents a prime redevelopment opportunity. The expansive 53,000 square foot facility is situated on approximately 5 acres of land in a desirable and accessible location. Formerly a nursing home, the property features 101 private bedrooms, multiple large dining areas, and over 20 administrative or flex-use offices. The existing infrastructure offers versatile potential for adaptive reuse or redevelopment. The layout and square footage allow for conversion or reconfiguration to suit various uses, including multifamily housing or student housing, a boutique hotel or short-term rental suites, a wellness or retreat center, a corporate or government training facility, or a co-living space, shelter, or community resource center. The generous acreage provides room for ample parking, green spaces, or future expansion. The building’s interior structure allows flexibility for remodeling and redesign. The location offers convenience, scale, and vision, with proximity to downtown Denton, major roadways, and UNT or TWU campuses, making it suitable for developers, institutions, or entrepreneurs.
Key Highlights
- Prime redevelopment opportunity: 53,000 SF facility on 5 acres in a desirable Denton location.
- Versatile canvas: Suitable for multifamily housing, hotel, wellness center, corporate training, or community resource center.
- Existing infrastructure: Features 101 private bedrooms, multiple dining areas, and over 20 offices.
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
$207,694
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
7.69%
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%
$4,153,880
$4.2M
Cap Rate 7%
$2,967,057
$3.0M
Cap Rate 9%
$2,307,711
$2.3M
Market Conditions
NOI Build-Up for 53,000 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
$795.0K $15.00/SF
− Vacancy
−$357.8K −$6.75/SF
EGI
$437.3K $8.25/SF
− OpEx
−$229.6K −$4.33/SF
NOI
$207.7K $3.92/SF
Area
Denton, TX
Vacancy
45.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
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%
$4,153,880
Cap Rate 7%
$2,967,057
Cap Rate 9%
$2,307,711
Alternative Uses
Best Use
Apartment 5plus
$11.51M
$10.07M – $13.43M
NOI $805,918 @ 7.0% cap · market cap 29.85%
Second Best
Healthcare Medical
$11.04M
$9.66M – $12.88M
NOI $772,740 @ 7.0% cap · market cap 28.62%
Theoretical Best
Office A
$16.56M
$14.49M – $19.32M
NOI $1,159,123 @ 7.0% cap · market cap 42.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 76201, TX
27,610
Population
13,087
Households
2.1
Avg Household Size
26
Median Age
46%
College-Educated
95%
High-School Grad
5.5 sq mi
ZIP Area
5,020
Density / Sq Mi
$37,863
Median Household Income
$18,308
Median Earnings
$1,128
Median Rent
$250,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Denton Rehabilitation — 2229 N Carroll Blvd, Denton, TX 76201
- Cottonwood Nursing & Rehabilitation — 2224 N Carroll Blvd, Denton, TX 76201
- Enhabit Hospice — 108 Hinkle Dr Suite 150A, Denton, TX 76201
- Good Samaritan Society - Denton Village — 2500 Hinkle Dr, Denton, TX 76201
Frequently Asked Questions
What type of property is this?
Nursing home - 53,000 SF facility on 5 acres in Denton, TX.
Where is this nursing home located?
The property is located at 2229 N Carroll Blvd Denton, TX.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Prime redevelopment opportunity: **53,000 SF facility on 5 acres in a desirable Denton location.**; Versatile canvas: Suitable for multifamily housing, hotel, wellness center, corporate training, or community resource center.; Existing infrastructure: Features 101 private bedrooms, multiple dining areas, and over 20 offices.
