Flex Space with Boarding
New
For Sale
$500,000
16396 N Hollyhock North Ave, Gardendale, TX 79758
Adaptable commercial facility with kennel areas, warehouse capacity, office space, and customer-facing improvements.
Property Size6,160 SF
Price / SF$81.17
Days on Market2
Property Features for 16396 N Hollyhock North Ave
General Information
Standard status
Active
Size
6,160 SF
Additional Details
Business Included
Yes
Building Details
Year Built
1964
Construction
steel frame, concrete block, metal siding
Listing Agency:
Keller Williams Realty
Listed By:
Jordan Linnenkugel · License #0685556
(432) 934-4244
Source:
Raftercrossrealty
Added: Sep 20
Last Checked: Sep 21 at 10:06AM
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 Realty
Investment Insights
Based on property information with market context.
This 6,160-square-foot flex property, constructed in 1964, is configured for animal boarding and related commercial services. More than 20 kennels provide indoor and outdoor access, concrete floors, and turf runs. The finished area includes a reception lobby, private offices, work areas, and a dedicated room suitable for grooming or other pet services.
A warehouse area exceeding 2,000 square feet adds operational flexibility, with bay doors and a loading dock. The site also includes a large paved parking lot. Construction incorporates steel framing, concrete block, metal siding, and a metal roof. Located at 16396 N Hollyhock North Ave in Gardendale, the property offers access to Midland, Odessa, and the surrounding Permian Basin. The source also identifies a potential purchase of 4-6 connected acres in conjunction with the property.
A warehouse area exceeding 2,000 square feet adds operational flexibility, with bay doors and a loading dock. The site also includes a large paved parking lot. Construction incorporates steel framing, concrete block, metal siding, and a metal roof. Located at 16396 N Hollyhock North Ave in Gardendale, the property offers access to Midland, Odessa, and the surrounding Permian Basin. The source also identifies a potential purchase of 4-6 connected acres in conjunction with the property.
Key Highlights
- More than 20 boarding kennels with indoor and outdoor access
- Over 2,000 square feet of warehouse space
- Bay doors and a loading dock
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
$38,519
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
7.70%
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%
$770,380
$770.4K
Cap Rate 7%
$550,271
$550.3K
Cap Rate 9%
$427,989
$428.0K
Market Conditions
NOI Build-Up for 6,160 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
$49.5K $8.04/SF
− Vacancy
−$4.2K −$0.68/SF
EGI
$45.3K $7.36/SF
− OpEx
−$6.8K −$1.10/SF
NOI
$38.5K $6.25/SF
Area
Ector County, TX
Vacancy
8.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
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%
$770,380
Cap Rate 7%
$550,271
Cap Rate 9%
$427,989
Alternative Uses
Best Use
Warehouse
$550.3K
$481.5K – $642.0K
NOI $38,519 @ 7.0% cap · market cap 7.70%
Second Best
Industrial
$453.2K
$396.5K – $528.7K
NOI $31,722 @ 7.0% cap · market cap 6.34%
Theoretical Best
Multifamily LT 5
$69.06M
$60.43M – $80.57M
NOI $4,834,390 @ 7.0% cap · market cap 966.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79758, TX
2,898
Population
1,011
Households
2.9
Avg Household Size
39
Median Age
15%
College-Educated
89%
High-School Grad
50.6 sq mi
ZIP Area
57
Density / Sq Mi
$120,721
Median Household Income
$81,368
Median Earnings
$1,609
Median Rent
$360,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial facility with kennel areas, warehouse capacity, office space, and customer-facing improvements.
Where is this flex space located?
The property is located at 16396 N Hollyhock North Ave Gardendale, TX.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: More than 20 boarding kennels with indoor and outdoor access; Over 2,000 square feet of warehouse space; Bay doors and a loading dock
