Single-Story Office
For Sale
$3,250,000
1727 Keller Parkway, Keller, TX 76248
CommercialSale, Keller, TX
Property Size8,655 SF
Lot Size1.15 Acres
Price / SF$375.51
Days on Market97
Property Features for 1727 Keller Parkway
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial Office
Parking features
Parking Lot
Security features
Security
Fireplace
1
Accessibility
Accessible Approach with Ramp
Subdivision
Flower Add
Lot features
Few Trees
Directions
Located on FM 1709 (Keller Parkway) on the north side of the street just west of the Bowden Center.
Standard status
Active
APN
42418281
Lot size
1.15 Acres
Taxes and HOA fees
Tax Description
FLOWER ADDITION BLOCK 1 LOT 1R1
Tax Annual Amount
33190
Legal Description
FLOWER ADDITION BLOCK 1 LOT 1R1
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Central, Fireplace(s), Natural Gas
Cooling system
Central Air, Zoned, Electric
Water source
Public
Building Details
Year built
2002
Floors in Building
1
Number of units
1
Flooring type
Tile, Carpet
Building materials
Brick, Rock, Stone
Roof type
Composition
Listing Agency:
Berkshire HathawayHS Worldwide · Prudential Real Estate
(817) 379-3111
Listed By:
Ellen Johnston · License #0321068
(800) 379-5018
Added: May 18
Changed: Aug 21
Last Checked: Aug 22 at 6:06AM
MLS# 21068990
Copyright © 2026 North Texas Real Estate Information Systems, Inc. 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.
Built in 2002, this single-story office building provides 8,655 SF per plans with 30 individual offices, many positioned along the perimeter for window access and natural light. The interior includes a welcoming lobby with fireplace, large and small workrooms, a flexible room with a second fireplace, an adjoining kitchen, two separate two-stall restrooms, and three interior storage rooms. A walk-up floored attic adds approximately 1,800 SF of storage or expansion space.
The property is located at 1727 Keller Parkway in Keller, Texas, with frontage on FM 1709 and ingress and egress from the roadway. Professional or medical office use is supported by the existing layout. Additional features include a parking lot, accessible ramp approach, brick, rock, and stone construction, tile and carpet flooring, zoned heating and cooling, public water, public sewer, and a composition roof.
The property is located at 1727 Keller Parkway in Keller, Texas, with frontage on FM 1709 and ingress and egress from the roadway. Professional or medical office use is supported by the existing layout. Additional features include a parking lot, accessible ramp approach, brick, rock, and stone construction, tile and carpet flooring, zoned heating and cooling, public water, public sewer, and a composition roof.
Key Highlights
- 8,655 SF office building per plans, constructed in 2002
- 30 individual offices, with most positioned along the perimeter
- Approximately 1,800 SF walk‑up floored attic for storage or expansion
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
$120,348
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
3.70%
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%
$2,406,960
$2.4M
Cap Rate 7%
$1,719,257
$1.7M
Cap Rate 9%
$1,337,200
$1.3M
Market Conditions
NOI Build-Up for 8,655 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
$214.0K $24.72/SF
− Vacancy
−$53.5K −$6.18/SF
EGI
$160.5K $18.54/SF
− OpEx
−$40.1K −$4.64/SF
NOI
$120.3K $13.91/SF
Area
Denton County, TX
Vacancy
25.00%
Lease Rate
$24.72 /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%
$2,406,960
Cap Rate 7%
$1,719,257
Cap Rate 9%
$1,337,200
Alternative Uses
Best Use
Office B
$1.72M
$1.50M – $2.01M
NOI $120,348 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$121.04M
$105.91M – $141.21M
NOI $8,472,464 @ 7.0% cap · market cap 260.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
608
Businesses Nearby
Explore this area
Business Placement
Demographics for 76248, TX
40,894
Population
14,749
Households
2.8
Avg Household Size
42
Median Age
60%
College-Educated
97%
High-School Grad
15.8 sq mi
ZIP Area
2,588
Density / Sq Mi
$169,391
Median Household Income
$77,224
Median Earnings
$1,979
Median Rent
$545,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Professional office property with a flexible interior plan, perimeter windows, and direct access from Keller Parkway.
Where is this office building located?
The property is located at 1727 Keller Parkway Keller, TX.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 8,655 SF office building per plans, constructed in 2002; 30 individual offices, with most positioned along the perimeter; Approximately 1,800 SF walk‑up floored attic for storage or expansion
