Building Details

Year built 2000

Floors in Building 1

Number of units 1

Flooring type Concrete

Building materials MetalSiding

Roof type Metal

Listing Agency: AmbitionX Real Estate Show Phone

Listed By: Nathan Bowers · License #0671644 Show Phone

Added: Aug 3 Changed: Aug 21 Last Checked: Aug 23 at 4:06AM

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MLS# 21206358

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 approximately 1,200-square-foot flex space is configured with two bays and roll-up doors, providing a practical layout for workshop or mechanic-shop operations. The building has metal siding, a metal roof, concrete flooring, driveway and garage parking, and an existing electric meter. Built in 2000, the property is positioned outside city limits in a residential area.

Located at 141 Cimmarron Trail in Runaway Bay, the property offers access to major highways for regional commuting. The source information also identifies possible applications including business use, rental income, and future residential conversion; specific permitted uses are not stated.

Key Highlights

• Approximately 1,200 Sq Ft of flex space
• Two bays with roll‑up doors
• Existing electric meter in place

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

$6,382

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

5.32%

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%

$127,640 $127.6K

Cap Rate 7%

$91,171 $91.2K

Cap Rate 9%

$70,911 $70.9K

Market Conditions

NOI Build-Up for 1,200 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

$9.6K $8.04/SF

− Vacancy

−$531 −$0.44/SF

EGI

$9.1K $7.60/SF

− OpEx

−$2.7K −$2.28/SF

NOI

$6.4K $5.32/SF

Area

Wise County, TX

Vacancy

5.50%

Lease Rate

$8.04 /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%

$127,640

Cap Rate 7%

$91,171

Cap Rate 9%

$70,911

Alternative Uses

Best Use

Retail

$284.5K

$249.0K – $332.0K (±1% cap)

NOI $19,918 @ 7.0% cap · market cap 16.60%

Second Best

Industrial

$91.2K

$79.8K – $106.4K (±1% cap)

NOI $6,382 @ 7.0% cap · market cap 5.32%

Theoretical Best

Hotel Hospitality

$903.9K

$790.9K – $1.05M (±1% cap)

NOI $63,270 @ 7.0% cap · market cap 52.73%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Storage Facility Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Service bays

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

11

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 76426, TX

11,727

Population

4,435

Households

2.6

Avg Household Size

39

Median Age

23%

College-Educated

82%

High-School Grad

130.9 sq mi

ZIP Area

90

Density / Sq Mi

$84,759

Median Household Income

$40,995

Median Earnings

$1,172

Median Rent

$257,500

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Metal-sided commercial unit with concrete floors, roll-up doors, and an electric meter already installed.

Where is this flex space located?

The property is located at 141 Cimmarron Trail Runaway Bay, TX.

What is the asking price?

The asking price for this property is $120,000.

What are key features of this property?

This property features: Approximately 1,200 Sq Ft of flex space; Two bays with roll‑up doors; Existing electric meter in place