Office Suite with Reception
For Sale
$425,000
1610 5th Avenue, Canyon, TX 79015
Well-lit office layout includes a reception area, 10 offices, and updated flooring with washer and dryer hookups.
Property Size2,767 SF
Price / SF$153.60
Days on Market48
Property Features for 1610 5th Avenue
General Information
Standard status
Active
Size
2,767 SF
Property subtype
Commercial
Additional Details
Office Units
10
Building Details
Year Built
1962
Listing Agency:
Gaut Whittenburg Emerson Commercial Real Estate, LLC
(806) 373-3111
Listed By:
Miles Bonifield · License #0594133
Source:
Shopamarillohomes
Added: Jul 7
Changed: Aug 14
Last Checked: Aug 22 at 5:32AM
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 Gaut Whittenburg Emerson Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
This property is a versatile office suite suited for professional services and small retail or wellness uses. The interior includes a reception area, 10 offices, and two bathrooms, with large windows designed to bring in natural light. Updates include laminate vinyl flooring. Select rooms have sinks, and washer and dryer hookups are available for added convenience.
The building is located near Canyons Downtown Square. The position provides easy access and exposure to the town square area, which serves as a central hub for shopping outlets and recurring community events such as parades and farmers markets. The property also stands out as one of the few buildings on the square with its own parking lot.
With its reception setup and multiple office rooms, the space is a practical fit for an office user looking for dedicated rooms or for a salon, spa, or retail operator seeking a front-facing entry and a functional internal layout. The combination of natural light, updated flooring, and in-unit laundry hookups supports day-to-day operations for service-oriented tenants or owners.
The building is located near Canyons Downtown Square. The position provides easy access and exposure to the town square area, which serves as a central hub for shopping outlets and recurring community events such as parades and farmers markets. The property also stands out as one of the few buildings on the square with its own parking lot.
With its reception setup and multiple office rooms, the space is a practical fit for an office user looking for dedicated rooms or for a salon, spa, or retail operator seeking a front-facing entry and a functional internal layout. The combination of natural light, updated flooring, and in-unit laundry hookups supports day-to-day operations for service-oriented tenants or owners.
Key Highlights
- 1962‑built building near Canyons Downtown Square with on‑site parking lot
- Office layout includes a reception area plus 10 offices
- Two bathrooms
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
$35,798
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
8.42%
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%
$715,960
$716.0K
Cap Rate 7%
$511,400
$511.4K
Cap Rate 9%
$397,756
$397.8K
Market Conditions
NOI Build-Up for 2,767 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
$65.7K $23.76/SF
− Vacancy
−$18.0K −$6.51/SF
EGI
$47.7K $17.25/SF
− OpEx
−$11.9K −$4.31/SF
NOI
$35.8K $12.94/SF
Area
Randall 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%
$715,960
Cap Rate 7%
$511,400
Cap Rate 9%
$397,756
Alternative Uses
Best Use
Office B
$511.4K
$447.5K – $596.6K
NOI $35,798 @ 7.0% cap · market cap 8.42%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$1.42M
$1.24M – $1.66M
NOI $99,363 @ 7.0% cap · market cap 23.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Office units
Location Intelligence
Trade Area within ½ mile
774
Businesses Nearby
Explore this area
Business Placement
Demographics for 79015, TX
21,710
Population
9,311
Households
2.3
Avg Household Size
32
Median Age
40%
College-Educated
95%
High-School Grad
328.5 sq mi
ZIP Area
66
Density / Sq Mi
$81,351
Median Household Income
$43,168
Median Earnings
$976
Median Rent
$267,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Well-lit office layout includes a reception area, 10 offices, and updated flooring with washer and dryer hookups.
Where is this office units located?
The property is located at 1610 5th Avenue Canyon, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1962‑built building near Canyons Downtown Square with on‑site parking lot; Office layout includes a reception area plus 10 offices; Two bathrooms
