Gated Flex Space with
New
For Sale
$524,900
1520 Southeast Parkway, Azle, TX 76020
Fenced commercial property combines office accommodation with workshop and yard space.
Property Size4,180 SF
Lot Size0.75 Acres
Days on Market3
Property Features for 1520 Southeast Parkway
General Information
Standard status
Active
Size
4,180 SF
Lot size
0.75 Acres
Property subtype
Business
Zoning
Heavy Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Additional Details
Clear Height
12 ft
Taxes and HOA fees
Annual Taxes
$8,083
Building Details
Building Size
4,180 SF
Year Built
1996
Buildings
2
Construction
metal
Listing Agency:
HH Realty
Listed By:
Michelle Herron
(469) 321-3468
Source:
Nilesrealtygroup
Added: Sep 12
Last Checked: Sep 13 at 12:45PM
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 HH Realty
Investment Insights
Based on property information with market context.
This flex property includes two metal buildings on concrete slabs within a fenced and gated commercial site. The primary building measures just over 3,200 square feet and combines a reception area, full bathroom, kitchenette, two private offices, and additional adaptable interior space. A workshop measuring approximately 45' x 40' sits beyond the office area, with 12' ceilings and a 10' roll-up door.
The secondary building provides roughly 900 square feet, spray-foam insulation, and two 12' roll-up doors. Additional yard area and on-site parking support the overall layout, while access is available from the frontage road near Jacksboro Highway. The property is currently zoned Heavy Commercial by the City of Azle and was built in 1996.
The secondary building provides roughly 900 square feet, spray-foam insulation, and two 12' roll-up doors. Additional yard area and on-site parking support the overall layout, while access is available from the frontage road near Jacksboro Highway. The property is currently zoned Heavy Commercial by the City of Azle and was built in 1996.
Key Highlights
- Two‑building flex property on just over .75 acres
- Main building offers just over 3,200 Sq. Ft. of office and workshop space
- Approximately 45' X 40' workshop with 12' ceilings
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
$30,648
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
5.84%
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%
$612,960
$613.0K
Cap Rate 7%
$437,829
$437.8K
Cap Rate 9%
$340,533
$340.5K
Market Conditions
NOI Build-Up for 4,180 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
$50.2K $12.00/SF
− Vacancy
−$3.0K −$0.72/SF
EGI
$47.2K $11.28/SF
− OpEx
−$16.5K −$3.95/SF
NOI
$30.6K $7.33/SF
Area
Parker County, TX
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$612,960
Cap Rate 7%
$437,829
Cap Rate 9%
$340,533
Alternative Uses
Best Use
Industrial
$4.15M
$3.63M – $4.85M
NOI $290,745 @ 7.0% cap · market cap 55.39%
Second Best
Flex RnD
$437.8K
$383.1K – $510.8K
NOI $30,648 @ 7.0% cap · market cap 5.84%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12 ft
Clear height
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fenced commercial property combines office accommodation with workshop and yard space.
Where is this flex space located?
The property is located at 1520 Southeast Parkway Azle, TX.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Two‑building flex property on just over .75 acres; Main building offers just over 3,200 Sq. Ft. of office and workshop space; Approximately 45' X 40' workshop with 12' ceilings
