New Flex Industrial
New
For Sale
$4,850,000
17332 Gaffield Road, Justin, TX 76247
Pre-leasing flex space offers divisible bays, build-to-suit layouts, gated security, and NNN lease terms.
Property Size6,000 SF
Price / SF$134.72
Days on Market2
Property Features for 17332 Gaffield Road
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Commercial
Zoning
Mini Industrial Park
Amenities
gated security
Building Details
Building Size
6,000 SF
Year Built
2026
Buildings
6
Stories
1
Units
24
Listing Agency:
eXp Realty, LLC
(254) 396-5104
Listed By:
Mark Anderson · License #0669551
(254) 396-5104
Source:
Cuddrealtyinc
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 6:20AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
Under construction at 17332 Gaffield Road in Justin, Texas, this flex industrial park will comprise six buildings totaling 36,000 square feet. Each building is planned at 6,000 square feet and can be divided into as many as four 1,500-square-foot units, creating 24 potential flex bays across the project. Developer build-to-suit capability allows customized layouts for individual occupants.
The property is zoned Mini Industrial Park and is being offered for pre-leasing under triple-net lease terms. A gated design adds controlled access to the development, while the planned configuration supports a range of small-bay industrial and flex-space requirements. Completion is identified for 2026.
The property is zoned Mini Industrial Park and is being offered for pre-leasing under triple-net lease terms. A gated design adds controlled access to the development, while the planned configuration supports a range of small-bay industrial and flex-space requirements. Completion is identified for 2026.
Key Highlights
- Six‑building flex industrial park totaling 36,000 square feet
- Each building contains 6,000 square feet and can divide into up to four units
- Potential for 24 flex bays, with units as small as 1,500 square feet
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
$224,374
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
4.63%
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%
$4,487,480
$4.5M
Cap Rate 7%
$3,205,343
$3.2M
Cap Rate 9%
$2,493,044
$2.5M
Market Conditions
NOI Build-Up for 36,000 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
$289.4K $8.04/SF
− Vacancy
−$25.5K −$0.71/SF
EGI
$264.0K $7.33/SF
− OpEx
−$39.6K −$1.10/SF
NOI
$224.4K $6.23/SF
Area
Denton County, TX
Vacancy
8.80%
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%
$4,487,480
Cap Rate 7%
$3,205,343
Cap Rate 9%
$2,493,044
Alternative Uses
Best Use
Warehouse
$3.21M
$2.80M – $3.74M
NOI $224,374 @ 7.0% cap · market cap 4.63%
Second Best
Industrial
$2.64M
$2.31M – $3.08M
NOI $184,778 @ 7.0% cap · market cap 3.81%
Theoretical Best
Multifamily LT 5
$503.44M
$440.51M – $587.35M
NOI $35,240,751 @ 7.0% cap · market cap 726.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76247, TX
17,178
Population
6,610
Households
2.6
Avg Household Size
36
Median Age
34%
College-Educated
97%
High-School Grad
74.4 sq mi
ZIP Area
231
Density / Sq Mi
$123,173
Median Household Income
$61,878
Median Earnings
$2,070
Median Rent
$372,700
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Pre-leasing flex space offers divisible bays, build-to-suit layouts, gated security, and NNN lease terms.
Where is this flex space located?
The property is located at 17332 Gaffield Road Justin, TX.
What is the asking price?
The asking price for this property is $4,850,000.
What are key features of this property?
This property features: Six‑building flex industrial park totaling 36,000 square feet; Each building contains 6,000 square feet and can divide into up to four units; Potential for 24 flex bays, with units as small as 1,500 square feet
