Versatile Commercial Property in
For Sale
$1,400,000
1006 W 6th Street, Irving, TX 75060
Commercial property suitable for automotive and office use in Irving.
Property Size4,146 SF
Lot Size0.52 Acres
Price / SF$337.67
Days on Market1199
Property Features for 1006 W 6th Street
General Information
Standard status
Active
Size
4,146 SF
Lot size
0.52 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$2,995
Building Details
Year Built
1960
Listing Agency:
RE/MAX Dallas Suburbs
(214) 859-0335
Listed By:
Omar Al-Tememe · License #0636393
(214) 859-0335
Source:
Exitrealty
Added: May 2, 2023
Changed: Aug 9
Last Checked: Aug 9 at 8:10PM
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 RE/MAX Dallas Suburbs
Investment Insights
Based on property information with market context.
This commercial property, located in Irving, Texas, presents an opportunity for businesses seeking a versatile space suitable for automotive and office purposes. The property offers ample space and is designed to meet the needs of a wide range of businesses, providing a functional workspace. The property size is 4146 square feet.
Key Highlights
- Prime commercial location in Irving, Texas
- Suitable for automotive and office use
- Versatile and well‑appointed space
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
$66,641
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
4.76%
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%
$1,332,820
$1.3M
Cap Rate 7%
$952,014
$952.0K
Cap Rate 9%
$740,456
$740.5K
Market Conditions
NOI Build-Up for 4,146 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
$100.0K $24.12/SF
− Vacancy
−$4.8K −$1.16/SF
EGI
$95.2K $22.96/SF
− OpEx
−$28.6K −$6.89/SF
NOI
$66.6K $16.07/SF
Area
Irving, TX
Vacancy
4.80%
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%
$1,332,820
Cap Rate 7%
$952,014
Cap Rate 9%
$740,456
Alternative Uses
Best Use
Retail
$952.0K
$833.0K – $1.11M
NOI $66,641 @ 7.0% cap · market cap 4.76%
Second Best
Office B
$797.5K
$697.8K – $930.4K
NOI $55,822 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.06M
$930.4K – $1.24M
NOI $74,429 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
917
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75060, TX
47,955
Population
15,538
Households
3.1
Avg Household Size
34
Median Age
18%
College-Educated
64%
High-School Grad
12.1 sq mi
ZIP Area
3,963
Density / Sq Mi
$69,708
Median Household Income
$35,508
Median Earnings
$1,367
Median Rent
$224,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Automotive property - Commercial property suitable for automotive and office use in Irving.
Where is this automotive property located?
The property is located at 1006 W 6th Street Irving, TX.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Prime commercial location in Irving, Texas; Suitable for automotive and office use; Versatile and well‑appointed space
