Fully Leased Flex
For Sale
$1,885,000
519 Bennett Ln, Lewisville, TX 75057
Two brick buildings provide air-conditioned suites with office buildouts, restrooms, and roll-up access.
Property Size8,050 SF
Lot Size1.00 Acre
Price / SF$234.16
Days on Market41
Property Features for 519 Bennett Ln
General Information
Standard status
Active
Size
8,050 SF
Total Parking Spaces
23
Lot size
1.00 Acre
Occupancy
100%
Additional Details
Cap Rate
7%
Highway Access
Yes
Conditioned Warehouse
Yes
Building Details
Year Built
2007
Buildings
2
Construction
brick
Tenancy
Multi
Listing Agency:
Calloway Real Estate LLC
(214) 995-9091
Listed By:
Matt Calloway · License #0594740
Source:
Yourdavisteam
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 25 at 5:52AM
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 Calloway Real Estate LLC
Investment Insights
Based on property information with market context.
Located at 519 Bennett Lane in Lewisville, this flex property comprises two brick buildings totaling approximately 9,200 square feet of gross building area. The property contains approximately 8,050 square feet of main usable space configured into 8 tenant suites, all fully occupied. Built in 2007, each suite includes office improvements, a private restroom, roll-up door access, air conditioning, and standing seam metal roofing.
The approximately 1-acre site includes a concrete parking lot with 23 spaces. Parking allocation includes 2 spaces for each tenant, along with 2 handicap spaces and 5 overflow spaces. The property is positioned near Interstate 35 and Sam Rayburn Tollway 121, providing access to major regional transportation routes. Occupancy is 100%, and the offering reflects a 7% cap rate.
The approximately 1-acre site includes a concrete parking lot with 23 spaces. Parking allocation includes 2 spaces for each tenant, along with 2 handicap spaces and 5 overflow spaces. The property is positioned near Interstate 35 and Sam Rayburn Tollway 121, providing access to major regional transportation routes. Occupancy is 100%, and the offering reflects a 7% cap rate.
Key Highlights
- Approximately 9,200 square feet gross building area across two brick buildings
- Approximately 8,050 square feet of main usable space in 8 fully occupied tenant suites
- Built in 2007 with air conditioning, office buildouts, private restrooms, and roll‑up doors
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
$149,030
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
7.91%
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%
$2,980,600
$3.0M
Cap Rate 7%
$2,129,000
$2.1M
Cap Rate 9%
$1,655,889
$1.7M
Market Conditions
NOI Build-Up for 8,050 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
$265.7K $33.00/SF
− Vacancy
−$66.9K −$8.32/SF
EGI
$198.7K $24.68/SF
− OpEx
−$49.7K −$6.17/SF
NOI
$149.0K $18.51/SF
Area
Lewisville, TX
Vacancy
25.20%
Lease Rate
$33.00 /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%
$2,980,600
Cap Rate 7%
$2,129,000
Cap Rate 9%
$1,655,889
Alternative Uses
Best Use
Office B
$2.13M
$1.86M – $2.48M
NOI $149,030 @ 7.0% cap · market cap 7.91%
Second Best
Warehouse
$1.33M
$1.16M – $1.55M
NOI $92,887 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$2.68M
$2.35M – $3.13M
NOI $187,868 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75057, TX
16,001
Population
7,171
Households
2.2
Avg Household Size
31
Median Age
29%
College-Educated
83%
High-School Grad
13.3 sq mi
ZIP Area
1,203
Density / Sq Mi
$76,128
Median Household Income
$43,253
Median Earnings
$1,589
Median Rent
$208,500
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.
Similar Off Market Nearby
- Seven Loaves Catering & Events — 1305 State Hwy 121 suite 400, Lewisville, TX 75067
Frequently Asked Questions
What type of property is this?
Flex space - Two brick buildings provide air-conditioned suites with office buildouts, restrooms, and roll-up access.
Where is this flex space located?
The property is located at 519 Bennett Ln Lewisville, TX.
What is the asking price?
The asking price for this property is $1,885,000.
What are key features of this property?
This property features: Approximately 9,200 square feet gross building area across two brick buildings; Approximately 8,050 square feet of main usable space in 8 fully occupied tenant suites; Built in 2007 with air conditioning, office buildouts, private restrooms, and roll‑up doors
