Fenced Flex Space with Warehouse
For Sale
$2,320,000
15602 State Highway 160, Blue Ridge, TX 75424
Fenced, gated flex property with three shop buildings combining offices, bathrooms, and warehouse areas.
Property Size10,600 SF
Lot Size4.00 Acres
Price / SF$218.87
Days on Market24
Property Features for 15602 State Highway 160
General Information
Standard status
Active
Size
10,600 SF
Lot size
4.00 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Additional Details
Gross Income
$133,200
Office Units
3
Building Details
Year Built
2019
Buildings
3
Tenancy
Multi
Listing Agency:
Sarah Boyd & Co
Listed By:
Jennifer Boyd · License #0650747
(940) 202-0028
Source:
Heritance
Added: Aug 21
Changed: Sep 8
Last Checked: Sep 12 at 12:48PM
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 Sarah Boyd & Co
Investment Insights
Based on property information with market context.
This flex property comprises three separate shop buildings totaling 10,600 square feet on 4 acres. Each building includes office space, bathrooms, and warehouse areas. The shops were completed in 2019, 2021, and 2024, with individual sizes of 2,400 square feet, 3,200 square feet, and 5,000 square feet. Two tenants occupy the first shop, while the second has one tenant and the third uses shared space with two tenants.
The site is fenced and gated and fronts Highway 160. Additional land can accommodate another shop or expanded parking. The property is outside city limits, with access to shopping and restaurants nearby. It is approximately 10 minutes from the Melissa and Anna area, 30 minutes from McKinney, and one hour from DFW International Airport.
The site is fenced and gated and fronts Highway 160. Additional land can accommodate another shop or expanded parking. The property is outside city limits, with access to shopping and restaurants nearby. It is approximately 10 minutes from the Melissa and Anna area, 30 minutes from McKinney, and one hour from DFW International Airport.
Key Highlights
- 4‑acre flex property with 10,600 square feet across 3 separate shops
- Highway 160 frontage with room for an additional shop or more parking
- Shop sizes are 2,400 square feet, 3,200 square feet, and 5,000 square feet
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
$134,428
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
5.79%
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%
$2,688,560
$2.7M
Cap Rate 7%
$1,920,400
$1.9M
Cap Rate 9%
$1,493,644
$1.5M
Market Conditions
NOI Build-Up for 10,600 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
$232.8K $21.96/SF
− Vacancy
−$53.5K −$5.05/SF
EGI
$179.2K $16.91/SF
− OpEx
−$44.8K −$4.23/SF
NOI
$134.4K $12.68/SF
Area
Collin County, TX
Vacancy
23.00%
Lease Rate
$21.96 /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%
$2,688,560
Cap Rate 7%
$1,920,400
Cap Rate 9%
$1,493,644
Alternative Uses
Best Use
Industrial
$10.53M
$9.22M – $12.29M
NOI $737,297 @ 7.0% cap · market cap 31.78%
Second Best
Office B
$1.92M
$1.68M – $2.24M
NOI $134,428 @ 7.0% cap · market cap 5.79%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75424, TX
4,517
Population
1,387
Households
3.3
Avg Household Size
38
Median Age
18%
College-Educated
87%
High-School Grad
63.6 sq mi
ZIP Area
71
Density / Sq Mi
$82,974
Median Household Income
$45,875
Median Earnings
$1,563
Median Rent
$302,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Fenced, gated flex property with three shop buildings combining offices, bathrooms, and warehouse areas.
Where is this flex space located?
The property is located at 15602 State Highway 160 Blue Ridge, TX.
What is the asking price?
The asking price for this property is $2,320,000.
What are key features of this property?
This property features: 4‑acre flex property with 10,600 square feet across 3 separate shops; Highway 160 frontage with room for an additional shop or more parking; Shop sizes are 2,400 square feet, 3,200 square feet, and 5,000 square feet
