Office Building Near
For Sale
$4,000,000
1340 S Main Street, Grapevine, TX 76051
CommercialSale, Grapevine, TX
Property Size7,488 SF
Lot Size1.19 Acres
Price / SF$534.19
Days on Market88
Property Features for 1340 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Parking features
Parking Lot
Subdivision
CARPENTER
Directions
Use GPS
Standard status
Active
APN
04482239
Lot size
1.19 Acres
Taxes and HOA fees
Tax Description
DOOLEY, WILLIAM SURVEY ABSTRACT 422 TRACT 1H
Tax Annual Amount
35717
Legal Description
DOOLEY, WILLIAM SURVEY ABSTRACT 422 TRACT 1H
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Building Details
Year built
1972
Floors in Building
2
Number of units
11
Listing Agency:
Vision Commercial Real Estate
(817) 803-3287
Listed By:
Trenton Price · License #0000
(817) 803-3287
Added: May 27
Changed: Aug 21
Last Checked: Aug 22 at 6:06AM
MLS# 21279558
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office building sits on 1.19 acres and includes a parking lot, central air, and electric central heating. Constructed in 1972, the property offers 7,488 contiguous SF expected to become available by December.
The building occupies a Main Street setting near downtown Grapevine. Highways 121, 114, 635, and 360 are minutes away, while DFW International Airport is approximately 5 minutes from the property. The Grapevine TEXRail station and Hotel Vin are located a few blocks away, adding transit and hospitality access to the surrounding context.
The building occupies a Main Street setting near downtown Grapevine. Highways 121, 114, 635, and 360 are minutes away, while DFW International Airport is approximately 5 minutes from the property. The Grapevine TEXRail station and Hotel Vin are located a few blocks away, adding transit and hospitality access to the surrounding context.
Key Highlights
- 7,488 contiguous SF expected to become available by December
- 1.19‑acre office property with on‑site parking lot
- Central air conditioning and electric central heating
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
$129,393
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
3.23%
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%
$2,587,860
$2.6M
Cap Rate 7%
$1,848,471
$1.8M
Cap Rate 9%
$1,437,700
$1.4M
Market Conditions
NOI Build-Up for 7,488 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
$230.0K $30.72/SF
− Vacancy
−$57.5K −$7.68/SF
EGI
$172.5K $23.04/SF
− OpEx
−$43.1K −$5.76/SF
NOI
$129.4K $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%
$2,587,860
Cap Rate 7%
$1,848,471
Cap Rate 9%
$1,437,700
Alternative Uses
Best Use
Office B
$1.85M
$1.62M – $2.16M
NOI $129,393 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.63M
$2.30M – $3.07M
NOI $184,385 @ 7.0% cap · market cap 4.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,243
Businesses Nearby
Explore this area
Business Placement
Demographics for 76051, TX
49,969
Population
22,529
Households
2.2
Avg Household Size
39
Median Age
57%
College-Educated
95%
High-School Grad
22.3 sq mi
ZIP Area
2,241
Density / Sq Mi
$111,193
Median Household Income
$61,522
Median Earnings
$1,806
Median Rent
$467,800
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.
Frequently Asked Questions
What type of property is this?
Office building - Contiguous office space is expected to become available by December, with parking and central heating and cooling.
Where is this office building located?
The property is located at 1340 S Main Street Grapevine, TX.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 7,488 contiguous SF expected to become available by December; 1.19‑acre office property with on‑site parking lot; Central air conditioning and electric central heating
