Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1535 W Highway 287 Waxahachie, TX 75165

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Retail or office space with high visibility and easy access.

    Type:Retail
    Property size:
    4,800 SF
    Added:
    Sep 3, 2024
    Days on Market:
    586
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for 1535 W Highway 287

    General Information

    Standard status
    Active
    Size
    4,800 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2006

    We can help!

    Listing Contact
    Andrew Garrett

    Listing agent Andrew Garrett License #TX 0588777

    Listing office Hi View Real Estate

    Listing date Sep 3, 2024

    Source Crexi

    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 Hi View Real Estate

    Overview

    Retail/Office Space on Highway 287

    This 4,800-square-foot property is located on the Highway 287 Service Road, offering a location suitable for retail or office use. The site provides high visibility and easy access to Highway 287 and I-35E. It is situated minutes from Baylor Scott & White Hospital. The property is located in Waxahachie, a fast-growing suburb with existing and future retail developments.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waxahachie
    County
    Ellis
    State
    Texas
    Longitude
    -96.8493766
    Latitude
    32.4204355

    Nearby Similar for Sale

    • $575,000

      Versatile Commercial Property on 2+ Acres

      Two warehouses, office space, truck parking, endless potential.
      316 Howard Road, Waxahachie, TX 75165
      View Details
    • $650,000

      Victorian Commercial Building Near Downtown

      Charming Victorian building near downtown Waxahachie with high visibility.
      500 W Main Street, Waxahachie, TX 75165
      View Details
    • $499,900

      Historic Retail/Residential Waxahachie Gem

      Historic property with retail zoning and residential income potential.
      609 Ferris Avenue, Waxahachie, TX 75165
      View Details
    • $999,999

      Versatile Ranch Property Near Development

      38.5 acres between Waxahachie and Midlothian with equestrian facilities.
      1001 Ovilla Road, Waxahachie, TX 75167
      View Details
    • $964,900
      920 SF

      42-Acre Rural Retreat in Waxahachie

      42.76 acres with shop, office trailer, utilities, and agricultural exemption.
      4031 Greathouse Road, Waxahachie, TX 75167
      View Details
    • $1,190,000
      3,292 SF

      Waxahachie Farmhouse with Two Shops

      19.41+ acre property with stunning home and two shops.
      3511 Fm 66, Waxahachie, TX 75167
      View Details
    • $500,000
      2,400 SF

      Waxahachie Commercial Space For Sale

      2400 SF commercial space with office and warehouse areas.
      621 Cow Alley Avenue, Waxahachie, TX 75165
      View Details
    • $1,150,000
      3,048 SF

      Versatile Farm and Ranch Property

      38.38-acre property with a 3,048 sq ft home and barn.
      2403 Greathouse Road, Waxahachie, TX 75167
      View Details
    • $1,485,000
      1,800 SF

      Waxahachie Ranch with Animal Facilities

      36+ acre Waxahachie property with home and animal facilities.
      358 E Pecan Street, Waxahachie, TX 75165
      View Details
    • $1,300,000
      10,938 SF

      Waxahachie Office Building For Sale

      10,938 SqFt office building available in Waxahachie, Texas.
      310 W Jefferson St, Waxahachie, TX 75165
      View Details
    • $790
      120 SF

      Elegantly Appointed Office Space

      Office space across from Ellis County Courthouse for sale.
      209 E Main St, Waxahachie, TX
      View Details
    • $19,387,500
      58,750 SF

      Freestanding Grocery Store in Waxahachie

      New 2024 Tom Thumb development with long-term lease.
      N Hwy 77 1940, Waxahachie, TX
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail or office space with high visibility and easy access.
    Where is this retail space located?
    The property is located at 1535 W Highway 287 Waxahachie, TX.
    What are key features of this property?
    This property features: High visibility location on Hwy 287 Service Road.; Easy access to Highway 287 and I‑35E.; Minutes from Baylor Scott & White Hospital.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Andrew Garrett
    Real Estate License ID: TX 0588777
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!