Building Details

Building Size 15,600 SF

Year Built 2000

Listing Agency: Slate Real Estate Co., LLC

Listed By: Brandon Scott · License #0505018 Show Phone

Source: Baerealty

Added: Sep 22 Changed: Oct 10 Last Checked: Oct 16 at 3:19PM

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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 Slate Real Estate Co., LLC

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$117,514

Cap Rate

3.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,350,280 $2.4M

Cap Rate 7%

$1,678,771 $1.7M

Cap Rate 9%

$1,305,711 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 15,600 SF

Gross rent

$189.1K $12.12/SF

− Vacancy

−$21.2K −$1.36/SF

EGI

$167.9K $10.76/SF

− OpEx

−$50.4K −$3.23/SF

NOI

$117.5K $7.53/SF

Area

Wise County, TX

Vacancy

11.21%

Lease Rate

$12.12 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,350,280

Cap Rate 7%

$1,678,771

Cap Rate 9%

$1,305,711

Alternative Uses

Best Use

Multifamily LT 5

$1.68M

$1.47M – $1.96M (±1% cap)

NOI $117,514 @ 7.0% cap · market cap 3.92%

Second Best

Apartment 5plus

$1.46M

$1.28M – $1.70M (±1% cap)

NOI $102,162 @ 7.0% cap · market cap 3.41%

Theoretical Best

Hotel Hospitality

$11.75M

$10.28M – $13.71M (±1% cap)

NOI $822,510 @ 7.0% cap · market cap 27.42%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Explore this area Business Placement

Demographics for 76073, TX

6,579

Population

2,612

Households

2.5

Avg Household Size

41

Median Age

23%

College-Educated

88%

High-School Grad

84.0 sq mi

ZIP Area

78

Density / Sq Mi

$110,224

Median Household Income

$46,993

Median Earnings

$1,165

Median Rent

$317,200

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

Where is this duplex located?

The property is located at 175-201 Private Road 3459 Road 3459 Paradise, TX.

What is the asking price?

The asking price for this property is $3,000,000.