Commercial Land With Existing
New
For Sale
$399,900
1401 Leyfair Drive, Grand Prairie, TX 75050
Commercial land includes an existing residence and a large on-site storage building.
Property Size1,840 SF
Days on Market2
Property Features for 1401 Leyfair Drive
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Commercial
Zoning
Z312
Building Details
Building Size
1,840 SF
Year Built
1952
Stories
1
Units
1
Listing Agency:
Regal, REALTORS
(214) 893-2920
Listed By:
Julie Samano
(214) 893-2920
Source:
Cornerstonehomeandranch
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 4:47AM
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 Regal, REALTORS
Investment Insights
Based on property information with market context.
This commercial land parcel measures 0.61 acres, or 26, 572 sq ft, and includes an existing 4-bedroom, 2-bath residence totaling 1, 840 sq ft. A large storage building is also located on the property, providing additional enclosed space alongside the residential improvements.
The property is at 1401 Leyfair Drive in Grand Prairie, TX 75050, within the established commercial and industrial district described for the area. Zoning is identified as Z312. The existing improvements and land area create a property profile that combines a development site with current structures.
The property is at 1401 Leyfair Drive in Grand Prairie, TX 75050, within the established commercial and industrial district described for the area. Zoning is identified as Z312. The existing improvements and land area create a property profile that combines a development site with current structures.
Key Highlights
- 0.61‑acre commercial land parcel
- 26, 572 sq ft lot
- Existing 4‑bedroom, 2‑bath home totaling 1, 840 sq ft
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
$22,639
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
5.66%
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%
$452,780
$452.8K
Cap Rate 7%
$323,414
$323.4K
Cap Rate 9%
$251,544
$251.5K
Market Conditions
NOI Build-Up for 1,840 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
$27.6K $15.00/SF
− Vacancy
−$966 −$0.53/SF
EGI
$26.6K $14.48/SF
− OpEx
−$4.0K −$2.17/SF
NOI
$22.6K $12.30/SF
Area
Grand Prairie, TX
Vacancy
3.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
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%
$452,780
Cap Rate 7%
$323,414
Cap Rate 9%
$251,544
Alternative Uses
Best Use
Warehouse
$323.4K
$283.0K – $377.3K
NOI $22,639 @ 7.0% cap · market cap 5.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$517.3K
$452.6K – $603.5K
NOI $36,211 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 75050, TX
43,531
Population
17,286
Households
2.5
Avg Household Size
33
Median Age
23%
College-Educated
79%
High-School Grad
25.8 sq mi
ZIP Area
1,687
Density / Sq Mi
$70,484
Median Household Income
$39,322
Median Earnings
$1,412
Median Rent
$224,400
Median Home Value
Market
Vacancy Rate% for Industrial 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 - Commercial land includes an existing residence and a large on-site storage building.
Where is this commercial land located?
The property is located at 1401 Leyfair Drive Grand Prairie, TX.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 0.61‑acre commercial land parcel; 26, 572 sq ft lot; Existing 4‑bedroom, 2‑bath home totaling 1, 840 sq ft
