Freestanding Office
New
For Sale
$279,000
1501 Southeast Parkway, Azle, TX 76020
Brick commercial office with reception, conference, private offices, and front and side parking.
Property Size1,941 SF
Days on Market4
Property Features for 1501 Southeast Parkway
General Information
Standard status
Active
Size
1,941 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Utilities to Site
Yes
Building Details
Building Size
1,941 SF
Year Built
1976
Stories
1
Units
1
Construction
brick
Listing Agency:
Keller Williams Fort Worth
(817) 269-1660
Listed By:
Terri Christian · License #0332576
(817) 269-1660
Source:
1111brokerage
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 12 at 12:22PM
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 Fort Worth
Investment Insights
Based on property information with market context.
This freestanding brick office building at 1501 Southeast Parkway in Azle, Texas, offers a practical professional layout with a reception area, 8 private offices, and a conference room. The interior also includes two half baths, multiple storage closets, a sink, cabinetry, and mini fridge storage space. One office features two large storage closets and connects to a rear office. An exterior side entrance provides an additional access point.
Built in 1976, the property has parking positioned along the front and side of the building. City water and sewer serve the property, and the building is all electric. Commercial zoning supports its office-oriented configuration.
Built in 1976, the property has parking positioned along the front and side of the building. City water and sewer serve the property, and the building is all electric. Commercial zoning supports its office-oriented configuration.
Key Highlights
- Freestanding brick office building with parking at the front and side
- 8 private offices plus a dedicated conference room
- Reception area, interior storage, sink, cabinets, and mini fridge storage space
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
$24,616
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
8.82%
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%
$492,320
$492.3K
Cap Rate 7%
$351,657
$351.7K
Cap Rate 9%
$273,511
$273.5K
Market Conditions
NOI Build-Up for 1,941 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
$42.6K $21.96/SF
− Vacancy
−$9.8K −$5.05/SF
EGI
$32.8K $16.91/SF
− OpEx
−$8.2K −$4.23/SF
NOI
$24.6K $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%
$492,320
Cap Rate 7%
$351,657
Cap Rate 9%
$273,511
Alternative Uses
Best Use
Office B
$351.7K
$307.7K – $410.3K
NOI $24,616 @ 7.0% cap · market cap 8.82%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$1.93M
$1.69M – $2.25M
NOI $135,009 @ 7.0% cap · market cap 48.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
146
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?
Office building - Brick commercial office with reception, conference, private offices, and front and side parking.
Where is this office building located?
The property is located at 1501 Southeast Parkway Azle, TX.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Freestanding brick office building with parking at the front and side; 8 private offices plus a dedicated conference room; Reception area, interior storage, sink, cabinets, and mini fridge storage space
