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    Renovated Flex Space in Itasca Title is generated by Realmo AI

    1201 E Main Street, Itasca, TX 76055

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    For Lease
    $7 SF/Yr $6,416/Mo (calc)

    11,000 SF flex space on 4 acres in Itasca.

    Type:Rental
    Property size:
    11,000 SF
    Lot size:
    4.00 Acres
    Added:
    Jan 17, 2024
    Days on Market:
    861
    Last Refresh:
    May 20 at 2:10 am

    Property Features for 1201 E Main Street

    General Information

    Standard status
    Active
    Size
    11,000 SF
    Lot size
    4.00 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    1994

    We can help!

    Listing Contact
    Shane Hendrix
    Shane Hendrix

    Listing agent Shane Hendrix License #0776260

    Listing office M&D CRE, LLC

    Listing date Jan 17, 2024

    Source Exitrealty

    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 M&D CRE, LLC

    HighLights

    • 11,000 sq ft flex space ideal for a car dealership
    • Prime location just off Interstate 35W
    • Recently renovated with showroom, waiting area, accounting center, and private offices
    • Includes parts department and service warehouse with wash bays
    • Features nine grade‑level doors (two 14 ft., five 10 ft., & two 12 ft.)
    • Situated on four fully paved acres

    Overview

    This 11,000 square-foot flex space is available for lease in Itasca, Texas. Situated on four acres, fully paved, the property is ideal for a car dealership. The property was recently renovated. The front of the building features a sales room-showroom, a waiting area, an accounting center, and private offices. Towards the rear, there is a parts department and service warehouse complete with wash bays and nine grade level doors. The doors include two 14 ft. doors, five 10 ft. doors, and two 12 ft. doors. Positioned just off Interstate 35W, this property provides an optimal location that caters to the convenience of both clients and employees.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Department Store Kitchen & Bath Showroom Storage Facility Discount Store Electrical Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Itasca
    County
    Hill
    State
    Texas
    Longitude
    -97.134148
    Latitude
    32.168628

    Nearby Similar for Lease

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    • $1,900/Mo

      Versatile Commercial Building in Itasca

      Metal commercial building suitable for retail, daycare, office, or salon.
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      Versatile Commercial Building in Itasca

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    FAQs

    What type of property is this?
    Flex space - 11,000 SF flex space on 4 acres in Itasca.
    Where is this flex space located?
    The property is located at 1201 E Main Street Itasca, TX.
    What is the lease rate?
    The lease rate is $7 SF/Yr.
    What are key features of this property?
    This property features: 11,000 sq ft flex space ideal for a car dealership; Prime location just off Interstate 35W; Recently renovated with showroom, waiting area, accounting center, and private offices
    (214) 460-8926
    We can help!
    Listing Contact
    Shane Hendrix
    Shane Hendrix
    Real Estate License ID: 0776260
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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