Live-Work Space with
For Sale
$579,500
134a Cedar Creek Drive, Azle, TX 76020
CommercialSale, Azle, TX
Property Size4,000 SF
Lot Size2.93 Acres
Price / SF$144.88
Days on Market40
Property Features for 134a Cedar Creek Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Unzoned
Subdivision
Shangri La Home Sites
Lot features
Acreage
Directions
From Weatherford, take US-180 East toward Fort Worth, continue onto TX-199 East toward Azle, turn left onto FM-730, then turn left onto Cedar Creek Drive and continue to 134 Cedar Creek Dr, Azle, TX 76020.
Standard status
Active
APN
R000025224
Lot size
2.93 Acres
Taxes and HOA fees
Tax Description
ACRES: 2.930 SUBD: SHANGRI LA HOME SITES LOT:
Tax Annual Amount
7657
Legal Description
ACRES: 2.930 SUBD: SHANGRI LA HOME SITES LOT:
Utilities
Sewer type
Aerobic Septic
Heating system
Electric (Heating)
Cooling system
Electric
Building Details
Year built
2017
Floors in Building
2
Number of units
1
Flooring type
Concrete, Laminate
Building materials
AluminumSiding
Roof type
Metal
Listing Agency:
Worthington Realty & Investments, INC
(817) 596-0291
Listed By:
Read Sanders · License #0776278
(817) 594-0291
Added: Jul 14
Changed: Aug 21
Last Checked: Aug 22 at 4:06PM
MLS# 21196502
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.
Constructed in 2017, this 4,000-square-foot live-work property combines business and residential functions within one building. The first floor provides 1,000 square feet of climate-controlled office space alongside 2,000 square feet of high-ceiling warehouse-shop area. A separate 1,000-square-foot, one-bedroom apartment occupies the second floor, creating distinct living and work areas.
The property occupies 2.93 acres in the Shangri La Home Sites and has no HOA restrictions. Improvements include aluminum siding, a metal roof, concrete and laminate flooring, electric heating and cooling, and an aerobic septic system. The property is located in Azle ISD, minutes from Eagle Mountain Lake and city amenities.
The property occupies 2.93 acres in the Shangri La Home Sites and has no HOA restrictions. Improvements include aluminum siding, a metal roof, concrete and laminate flooring, electric heating and cooling, and an aerobic septic system. The property is located in Azle ISD, minutes from Eagle Mountain Lake and city amenities.
Key Highlights
- 4,000‑square‑foot live‑work property built in 2017
- 2.93‑acre parcel with no HOA restrictions
- First floor includes 1,000 square feet of office space and 2,000 square feet of warehouse‑shop area
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
$50,728
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
8.75%
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%
$1,014,560
$1.0M
Cap Rate 7%
$724,686
$724.7K
Cap Rate 9%
$563,644
$563.6K
Market Conditions
NOI Build-Up for 4,000 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
$87.8K $21.96/SF
− Vacancy
−$20.2K −$5.05/SF
EGI
$67.6K $16.91/SF
− OpEx
−$16.9K −$4.23/SF
NOI
$50.7K $12.68/SF
Area
Parker 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%
$1,014,560
Cap Rate 7%
$724,686
Cap Rate 9%
$563,644
Alternative Uses
Best Use
Industrial
$3.97M
$3.48M – $4.64M
NOI $278,225 @ 7.0% cap · market cap 48.01%
Second Best
Mixed Use
$788.6K
$690.0K – $920.0K
NOI $55,200 @ 7.0% cap · market cap 9.53%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Explore this area
Business Placement
Demographics for 76020, TX
33,469
Population
13,355
Households
2.5
Avg Household Size
42
Median Age
20%
College-Educated
89%
High-School Grad
64.9 sq mi
ZIP Area
516
Density / Sq Mi
$91,000
Median Household Income
$48,559
Median Earnings
$1,246
Median Rent
$272,800
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?
Live-work space - Flexible property combining climate-controlled offices, warehouse-shop space, and separate residential quarters on an unrestricted parcel.
Where is this live-work space located?
The property is located at 134a Cedar Creek Drive Azle, TX.
What is the asking price?
The asking price for this property is $579,500.
What are key features of this property?
This property features: 4,000‑square‑foot live‑work property built in 2017; 2.93‑acre parcel with no HOA restrictions; First floor includes 1,000 square feet of office space and 2,000 square feet of warehouse‑shop area
