Updated Office
For Sale
$75,000
200 S Parkway Dr, Alvarado, TX 76009
Recent interior work includes new flooring, bathroom fixtures, and paint.
Property Size288 SF
Price / SF$260.42
Days on Market9
Property Features for 200 S Parkway Dr
General Information
Standard status
Active
Size
288 SF
Additional Details
Condition
Newly Renovated
Highway Access
Yes
Property Use
Office
Taxes and HOA fees
Annual Taxes
$1,038
Listing Agency:
Century 21 Mike Bowman, Inc.
Listed By:
Rebekah Johnson
(817) 354-7653
Source:
Exprealty
Added: Oct 27
Changed: Nov 3
Last Checked: Nov 3 at 2:56PM
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 Century 21 Mike Bowman, Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The office interior has new flooring, a replacement bathroom sink and toilet, and fresh paint. Electrical service is configured with separate 100-amp and 30-amp outputs. Additional storage units may be conveyed with the property.
At 200 S Parkway Dr in Alvarado, the property is located near I-35. A Certificate of Occupancy has been issued and will transfer to the new owner.
At 200 S Parkway Dr in Alvarado, the property is located near I-35. A Certificate of Occupancy has been issued and will transfer to the new owner.
Key Highlights
- Interior refreshed with new flooring, bathroom sink and toilet, and paint
- Separate electrical outputs rated at 100 amps and 30 amps
- Additional storage units may be conveyed with the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,817
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$96,340
$96.3K
Cap Rate 7%
$68,814
$68.8K
Cap Rate 9%
$53,522
$53.5K
Market Conditions
NOI Build-Up for 288 SF
Gross rent
$8.8K $30.72/SF
− Vacancy
−$2.4K −$8.42/SF
EGI
$6.4K $22.30/SF
− OpEx
−$1.6K −$5.58/SF
NOI
$4.8K $16.73/SF
Area
Johnson County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$96,340
Cap Rate 7%
$68,814
Cap Rate 9%
$53,522
Alternative Uses
Best Use
Office B
$68.8K
$60.2K – $80.3K
NOI $4,817 @ 7.0% cap · market cap 6.42%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.45M
$3.02M – $4.03M
NOI $241,651 @ 7.0% cap · market cap 322.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Explore this area
Business Placement
Demographics for 76009, TX
23,376
Population
7,648
Households
3.1
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
98.0 sq mi
ZIP Area
239
Density / Sq Mi
$73,696
Median Household Income
$38,841
Median Earnings
$1,202
Median Rent
$211,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Recent interior work includes new flooring, bathroom fixtures, and paint.
Where is this office building located?
The property is located at 200 S Parkway Dr Alvarado, TX.
What is the asking price?
The asking price for this property is $75,000.
What are key features of this property?
This property features: Interior refreshed with new flooring, bathroom sink and toilet, and paint; Separate electrical outputs rated at 100 amps and 30 amps; Additional storage units may be conveyed with the property
