Office Building with Multiple
For Sale
$445,000
7604 BAKER, Richland Hills, TX 76118
Five separate office spaces in an office building with conference room, kitchen area, and parking in front and rear.
Property Size1,656 SF
Lot Size0.17 Acres
Days on Market42
Property Features for 7604 BAKER
General Information
Standard status
Active
Size
1,656 SF
Lot size
0.17 Acres
Property subtype
Office
Additional Details
Office Units
5
Taxes and HOA fees
Annual Taxes
$3,312
Amenities
conference room
kitchen area
fenced drive
Building Details
Building Size
1,656 SF
Year Built
1955
Listing Agency:
Engel&Volkers Dallas Southlake
(949) 558-7878
Listed By:
Tony Maniaci · License #0570435
Source:
Nilesrealtygroup
Added: Jul 20
Changed: Aug 17
Last Checked: Aug 29 at 4:24PM
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 Engel&Volkers Dallas Southlake
Investment Insights
Based on property information with market context.
This office building is configured with five separate office spaces and includes a conference room, a kitchen area, and restroom facilities. Parking is available at both the front and rear of the building, and the property also features a fenced drive.
The seller indicates the property is also available for lease, and is open to seller financing depending on terms.
With multiple offices and shared amenity areas, the layout supports a professional, self-contained working environment for an owner-user or investment scenario.
The seller indicates the property is also available for lease, and is open to seller financing depending on terms.
With multiple offices and shared amenity areas, the layout supports a professional, self-contained working environment for an owner-user or investment scenario.
Key Highlights
- Office building built in 1955 with five separate office spaces
- Includes conference room and kitchen area
- Parking available at both the front and rear of the building
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
$28,616
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
6.43%
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%
$572,320
$572.3K
Cap Rate 7%
$408,800
$408.8K
Cap Rate 9%
$317,956
$318.0K
Market Conditions
NOI Build-Up for 1,656 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
$50.9K $30.72/SF
− Vacancy
−$12.7K −$7.68/SF
EGI
$38.2K $23.04/SF
− OpEx
−$9.5K −$5.76/SF
NOI
$28.6K $17.28/SF
Area
Tarrant County, TX
Vacancy
25.00%
Lease Rate
$30.72 /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%
$572,320
Cap Rate 7%
$408,800
Cap Rate 9%
$317,956
Alternative Uses
Best Use
Office B
$408.8K
$357.7K – $476.9K
NOI $28,616 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$582.5K
$509.7K – $679.6K
NOI $40,777 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Explore this area
Business Placement
Demographics for 76118, TX
16,537
Population
6,584
Households
2.5
Avg Household Size
37
Median Age
27%
College-Educated
89%
High-School Grad
9.7 sq mi
ZIP Area
1,705
Density / Sq Mi
$90,453
Median Household Income
$47,969
Median Earnings
$1,400
Median Rent
$290,900
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 - Five separate office spaces in an office building with conference room, kitchen area, and parking in front and rear.
Where is this office units located?
The property is located at 7604 BAKER Richland Hills, TX.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Office building built in 1955 with five separate office spaces; Includes conference room and kitchen area; Parking available at both the front and rear of the building
