Office/Showroom Property with Upscale
For Sale
$2,400,000
20 Noble Court, Heath, TX 75032
Office/Showroom with upscale finishes, renovated in 2023, near Presbyterian Hospital.
Property Size9,433 SF
Price / SF$254.43
Days on Market277
Property Features for 20 Noble Court
General Information
Standard status
Active
Size
9,433 SF
Class
B
Property subtype
Office
Building Details
Building Size
9,433 SF
Year Built
2009
Listing Agency:
Lee & Associates - Dallas/Fort Worth
(214) 228-0611
Listed By:
Nathan Denton, SIOR · License #738954
(214) 228-0611
Source:
Lee-associates
Added: Nov 26, 2025
Changed: Aug 8
Last Checked: Aug 29 at 8:02AM
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 Lee & Associates - Dallas/Fort Worth
Investment Insights
Based on property information with market context.
This property features approximately 9,433 square feet of office and showroom space with upscale finishes and 10-foot ceilings. Constructed in 2009 and renovated in 2023, it is suitable for single or multi-tenant use. The property is situated on 1.64 acres and includes additional land for further office development. It also features a covered and open patio overlooking a lake. The property is located a short distance from Presbyterian Hospital.
Key Highlights
- Renovated in 2023 with upscale finish out
- Office/Showroom space with ± 9,433 total SF
- Situated on 1.64 acres with additional land for 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
$162,350
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
6.76%
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%
$3,247,000
$3.2M
Cap Rate 7%
$2,319,286
$2.3M
Cap Rate 9%
$1,803,889
$1.8M
Market Conditions
NOI Build-Up for 9,433 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
$289.8K $30.72/SF
− Vacancy
−$73.3K −$7.77/SF
EGI
$216.5K $22.95/SF
− OpEx
−$54.1K −$5.74/SF
NOI
$162.4K $17.21/SF
Area
Kaufman County, TX
Vacancy
25.30%
Lease Rate
$30.72 /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%
$3,247,000
Cap Rate 7%
$2,319,286
Cap Rate 9%
$1,803,889
Alternative Uses
Best Use
Office B
$2.32M
$2.03M – $2.71M
NOI $162,350 @ 7.0% cap · market cap 6.76%
Second Best
Retail
$2.25M
$1.97M – $2.62M
NOI $157,397 @ 7.0% cap · market cap 6.56%
Theoretical Best
Multifamily LT 5
$118.72M
$103.88M – $138.50M
NOI $8,310,298 @ 7.0% cap · market cap 346.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
231
Businesses Nearby
Explore this area
Business Placement
Demographics for 75032, TX
34,590
Population
13,453
Households
2.6
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
48.1 sq mi
ZIP Area
719
Density / Sq Mi
$128,465
Median Household Income
$60,480
Median Earnings
$1,918
Median Rent
$462,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office/Showroom with upscale finishes, renovated in 2023, near Presbyterian Hospital.
Where is this office building located?
The property is located at 20 Noble Court Heath, TX.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Renovated in 2023 with upscale finish out; Office/Showroom space with ± 9,433 total SF; Situated on 1.64 acres with additional land for expansion
