Commercial Land with Existing
For Sale
$500,000
500 Ford Street, Garland, TX 75040
Two connected lots with a mid-century building offer a commercial redevelopment or new-construction opportunity.
Property Size2,800 SF
Days on Market9
Property Features for 500 Ford Street
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Commercial
Zoning
Commercial Retail District
Building Details
Building Size
2,800 SF
Year Built
1950
Stories
1
Units
1
Listing Agency:
Keller Williams Rockwall
(972) 571-1641
Listed By:
Patty Turner · License #0426347
(972) 571-1641
Source:
Cornerstonehomeandranch
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 29 at 1:50PM
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 Keller Williams Rockwall
Investment Insights
Based on property information with market context.
This offering combines the parcels at 500 and 504 Ford Street, totaling almost a quarter acre within Garland’s Commercial Retail District. A building constructed in 1950 remains on the site, providing an existing structure for evaluation alongside potential redevelopment of the property.
The land fronts Ave D (HWY 66), placing the site along a visible commercial corridor. A new fire station and additional development are planned across the street, creating an identifiable change in the immediate surroundings once completed. The property is offered as a combined two-lot commercial land opportunity with an existing building component.
The land fronts Ave D (HWY 66), placing the site along a visible commercial corridor. A new fire station and additional development are planned across the street, creating an identifiable change in the immediate surroundings once completed. The property is offered as a combined two-lot commercial land opportunity with an existing building component.
Key Highlights
- Two lots included: 500 and 504 Ford Street
- Almost a quarter acre of land
- Zoned Commercial Retail District
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
$45,053
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
9.01%
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%
$901,060
$901.1K
Cap Rate 7%
$643,614
$643.6K
Cap Rate 9%
$500,589
$500.6K
Market Conditions
NOI Build-Up for 2,800 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
$67.5K $24.12/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$64.4K $22.99/SF
− OpEx
−$19.3K −$6.90/SF
NOI
$45.1K $16.09/SF
Area
Garland, TX
Vacancy
4.70%
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%
$901,060
Cap Rate 7%
$643,614
Cap Rate 9%
$500,589
Alternative Uses
Best Use
Retail
$643.6K
$563.2K – $750.9K
NOI $45,053 @ 7.0% cap · market cap 9.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.36M
$2.94M – $3.92M
NOI $235,184 @ 7.0% cap · market cap 47.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
791
Businesses Nearby
52k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Dining 17%
QuikTrip
Shops & Services
32,564 visits/mo
0.4 miles
Burger King
Dining
6,973 visits/mo
0.3 miles
Exxon
Shops & Services
5,766 visits/mo
0.4 miles
Advance Auto Parts
Shops & Services
2,022 visits/mo
0.4 miles
Stop N Go
Shops & Services
1,679 visits/mo
0.3 miles
Demographics for 75040, TX
64,035
Population
21,629
Households
3
Avg Household Size
36
Median Age
23%
College-Educated
77%
High-School Grad
15.7 sq mi
ZIP Area
4,079
Density / Sq Mi
$73,537
Median Household Income
$39,019
Median Earnings
$1,670
Median Rent
$245,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Two connected lots with a mid-century building offer a commercial redevelopment or new-construction opportunity.
Where is this commercial land located?
The property is located at 500 Ford Street Garland, TX.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two lots included: 500 and 504 Ford Street; Almost a quarter acre of land; Zoned Commercial Retail District
