Building Details

Year built 2017

Listing Agency: Jane Byrd Properties International L.L.C. Show Phone

Listed By: April Purvis Show Phone

Added: Sep 11 Changed: Sep 13 Last Checked: Sep 28 at 12:06PM

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MLS# 70015164

Copyright © 2026 Deep East Texas MLS. 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 2017 flex property at 15306 US Hwy 69N in Wells combines a 3,738-square-foot office building with a separate 3,000-square-foot shop. The shop is equipped with heavy-duty 200 Amp, 3-phase power, supporting contractor operations, equipment storage, and light industrial use. The site also includes an on-site commercial billboard.

Office availability includes 1,832 square feet across Suite 2 at 601 square feet, Suite 3 at 632 square feet, and Suite 4 at 598 square feet. These spaces can be leased individually or combined into continuous office area. Suite 5 provides an additional 787-square-foot office suite. The property is available for purchase or individual suite lease.

Key Highlights

• 3,738 SF office building paired with a separate 3,000 SF shop
• Heavy‑duty 200 Amp, 3‑phase power in the shop
• 1,832 SF of vacant office space across Suites 2, 3, and 4

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

$48,360

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

7.74%

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%

$967,200 $967.2K

Cap Rate 7%

$690,857 $690.9K

Cap Rate 9%

$537,333 $537.3K

Market Conditions

NOI Build-Up for 3,738 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

$88.8K $23.76/SF

− Vacancy

−$24.3K −$6.51/SF

EGI

$64.5K $17.25/SF

− OpEx

−$16.1K −$4.31/SF

NOI

$48.4K $12.94/SF

Area

Angelina County, TX

Vacancy

27.40%

Lease Rate

$23.76 /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%

$967,200

Cap Rate 7%

$690,857

Cap Rate 9%

$537,333

Alternative Uses

Best Use

Office B

$690.9K

$604.5K – $806.0K (±1% cap)

NOI $48,360 @ 7.0% cap · market cap 7.74%

Second Best

Mixed Use

$528.7K

$462.6K – $616.8K (±1% cap)

NOI $37,006 @ 7.0% cap · market cap 5.92%

Theoretical Best

Office A

$1.05M

$921.8K – $1.23M (±1% cap)

NOI $73,745 @ 7.0% cap · market cap 11.80%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick HVAC Service Bakery Butcher Big Box & Wholesale Store Bed & Breakfast Building Supply

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

4

Office units

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

63

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 75969, TX

4,301

Population

1,688

Households

2.5

Avg Household Size

43

Median Age

15%

College-Educated

82%

High-School Grad

82.8 sq mi

ZIP Area

52

Density / Sq Mi

$80,438

Median Household Income

$36,645

Median Earnings

$1,068

Median Rent

$155,300

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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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?

Frequently Asked Questions

What type of property is this?

Flex space - Commercial property combines office suites, a substantial shop, and three-phase power for contractor and light industrial operations.

Where is this flex space located?

The property is located at 15306 US Hwy 69N Wells, TX.

What is the asking price?

The asking price for this property is $625,000.

What are key features of this property?

This property features: 3,738 SF office building paired with a separate 3,000 SF shop; Heavy‑duty 200 Amp, 3‑phase power in the shop; 1,832 SF of vacant office space across Suites 2, 3, and 4