Flex Space with
New
For Sale
Contact for pricing
1742 Illinois Street, Rhome, TX 76078
Warehouse and office areas are paired with outdoor yard space, three-phase power, and on-site water and septic.
Property Size7,054 SF
Price / SF$0.78
Days on Market6
Property Features for 1742 Illinois Street
General Information
Standard status
Active
Size
7,054 SF
Property subtype
Warehouse
Site & Location
Road Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1951
Listing Agency:
EXP REALTY
(888) 519-7431
Listed By:
Crystal DeBacker · License #0747676
(469) 667-8427
Source:
Magnorumrealty
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 4:00PM
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
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Investment Insights
Based on property information with market context.
This flex property provides 5,680 square feet of combined warehouse and office area, including 4,740 square feet of warehouse space and a 940-square-foot office. An additional 2 acres of yard space supports outdoor operations. The property has three-phase electrical service, on-site water and septic, and was built in 1951.
The site fronts FM 407 and is outside the city limits in Wise County, Texas.
The site fronts FM 407 and is outside the city limits in Wise County, Texas.
Key Highlights
- 5,680 SF of combined warehouse and office space
- 4,740 SF warehouse and 940 SF office
- Additional 2 acres of yard space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,915
Suggested Prices Based on Cap Rates
Cap Rate 5%
$678,300
$678.3K
Cap Rate 7%
$484,500
$484.5K
Cap Rate 9%
$376,833
$376.8K
Market Conditions
NOI Build-Up for 7,054 SF
Gross rent
$56.7K $8.04/SF
− Vacancy
−$4.5K −$0.64/SF
EGI
$52.2K $7.40/SF
− OpEx
−$18.3K −$2.59/SF
NOI
$33.9K $4.81/SF
Area
Wise County, TX
Vacancy
8.00%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$678,300
Cap Rate 7%
$484,500
Cap Rate 9%
$376,833
Alternative Uses
Best Use
Warehouse
$650.8K
$569.5K – $759.3K
NOI $45,556 @ 7.0% cap · market cap 828.29%
Second Best
Industrial
$535.9K
$469.0K – $625.3K
NOI $37,516 @ 7.0% cap · market cap 682.11%
Theoretical Best
Hotel Hospitality
$5.31M
$4.65M – $6.20M
NOI $371,922 @ 7.0% cap · market cap 6,762.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76078, TX
9,979
Population
3,540
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
87%
High-School Grad
64.2 sq mi
ZIP Area
155
Density / Sq Mi
$94,379
Median Household Income
$42,853
Median Earnings
$1,574
Median Rent
$278,800
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Warehouse and office areas are paired with outdoor yard space, three-phase power, and on-site water and septic.
Where is this flex space located?
The property is located at 1742 Illinois Street Rhome, TX.
What are key features of this property?
This property features: 5,680 SF of combined warehouse and office space; 4,740 SF warehouse and 940 SF office; Additional 2 acres of yard space
