Warehouse For
For Sale
$710,000
966 E Ovilla Road, Red Oak, TX 75154
Warehouse property offered for sale at 966 E Ovilla Road in Red Oak, Texas.
Property Size3,000 SF
Days on Market60
Property Features for 966 E Ovilla Road
General Information
Standard status
Active
Size
3,000 SF
Zoning
Agriculture
Taxes and HOA fees
Annual Taxes
$9,197
Amenities
Other
Concrete
Building Details
Building Size
3,000 SF
Year Built
2008
Stories
1
Listing Agency:
Hi View Real Estate
Listed By:
Cody Cockerham · License #0690695
(972) 921-9840
Source:
Evrealestate
Added: Jul 10
Changed: Aug 22
Last Checked: Sep 7 at 4:41AM
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 Hi View Real Estate
Investment Insights
Based on property information with market context.
This property is being offered for sale as a warehouse, classified within the commercial real estate category as “Warehouses” / “Other warehouses.” The listing is located at 966 E Ovilla Road, Red Oak, TX 75154, with directions noted as GPS-based.
The asset is situated in Ellis County. Additional specifics on building size, layout, condition, utilities, or site improvements were not provided in the available information, so interested parties should confirm all details directly with the listing agent or through the marketing materials.
The asset is situated in Ellis County. Additional specifics on building size, layout, condition, utilities, or site improvements were not provided in the available information, so interested parties should confirm all details directly with the listing agent or through the marketing materials.
Key Highlights
- Warehouse property for sale at 966 E Ovilla Road in Red Oak, TX
- Year built: 2008
- On‑site parking features: concrete
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
$20,862
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
2.94%
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%
$417,240
$417.2K
Cap Rate 7%
$298,029
$298.0K
Cap Rate 9%
$231,800
$231.8K
Market Conditions
NOI Build-Up for 3,000 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
$27.0K $9.00/SF
− Vacancy
−$2.5K −$0.82/SF
EGI
$24.5K $8.18/SF
− OpEx
−$3.7K −$1.23/SF
NOI
$20.9K $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 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%
$417,240
Cap Rate 7%
$298,029
Cap Rate 9%
$231,800
Alternative Uses
Best Use
Warehouse
$298.0K
$260.8K – $347.7K
NOI $20,862 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$32.73M
$28.64M – $38.19M
NOI $2,291,446 @ 7.0% cap · market cap 322.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 75154, TX
45,894
Population
17,170
Households
2.7
Avg Household Size
36
Median Age
31%
College-Educated
88%
High-School Grad
47.8 sq mi
ZIP Area
960
Density / Sq Mi
$96,150
Median Household Income
$48,112
Median Earnings
$1,446
Median Rent
$296,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Affordable Self Storage by Kaylee — 402 S, TX-342, Red Oak, TX 75154
- Macho Self Storage Red Oak — 201 Brothers Blvd, Red Oak, TX 75154
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse property offered for sale at 966 E Ovilla Road in Red Oak, Texas.
Where is this warehouse located?
The property is located at 966 E Ovilla Road Red Oak, TX.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: Warehouse property for sale at 966 E Ovilla Road in Red Oak, TX; Year built: 2008; On‑site parking features: concrete
