Loft-Style Garage
For Sale
$475,000
202-753 S Railroad St, Lewisville, TX 75057
Upgraded loft-style garage suite with a mezzanine, fireplace lounge, and climate-controlled wine cellar in a gated community of private suites.
Property Size1,602 SF
Lot Size3.50 Acres
Price / SF$296.50
Days on Market85
Property Features for 202-753 S Railroad St
General Information
Standard status
Active
Size
1,602 SF
Lot size
3.50 Acres
Listing Agency:
Phillips Realty Group & Assoc
(214) 432-4416
Listed By:
Valerie Dusek
(214) 432-4416
Source:
Exprealty
Added: Jun 6
Changed: Aug 24
Last Checked: Aug 29 at 4:12PM
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 Phillips Realty Group & Assoc
Investment Insights
Based on property information with market context.
This fully customized 1,602-square-foot loft-style garage suite is built around an open-concept 25' x 50' floorplan with soaring ceilings and sleek epoxy flooring. A custom-built mezzanine expands usable space while keeping the interior light and flexible for a variety of display, storage, and workspace uses. Premium upgrades include a private lounge with a fireplace for entertaining, a custom bathroom, and a climate-controlled custom wine cellar.
The property is located within an exclusive gated 3.5-acre development featuring only 63 privately owned suites, offering controlled access and a community environment designed for like-minded collectors and professionals. The secured setting supports vehicle storage, equipment keeping, and private showroom-style presentations.
With its layout and finish package, the suite is well suited for owners who want secure, indoor space that can function as an automotive gallery, showroom environment, executive office, or creative studio. The combination of expanded mezzanine utility and entertainment-oriented amenities makes it practical for both day-to-day operations and hosting. The open design supports multiple configurations, whether the primary use is luxury vehicle storage, recreational equipment storage, or a dedicated display space.
The property is located within an exclusive gated 3.5-acre development featuring only 63 privately owned suites, offering controlled access and a community environment designed for like-minded collectors and professionals. The secured setting supports vehicle storage, equipment keeping, and private showroom-style presentations.
With its layout and finish package, the suite is well suited for owners who want secure, indoor space that can function as an automotive gallery, showroom environment, executive office, or creative studio. The combination of expanded mezzanine utility and entertainment-oriented amenities makes it practical for both day-to-day operations and hosting. The open design supports multiple configurations, whether the primary use is luxury vehicle storage, recreational equipment storage, or a dedicated display space.
Key Highlights
- Fully customized 1,602‑SF loft‑style garage suite in a gated 3.5‑acre development with 63 privately owned suites
- 25' x 50' expansive floorplan with soaring ceilings and sleek epoxy flooring
- Custom‑built mezzanine to maximize usable space
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
$15,223
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
3.20%
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%
$304,460
$304.5K
Cap Rate 7%
$217,471
$217.5K
Cap Rate 9%
$169,144
$169.1K
Market Conditions
NOI Build-Up for 1,602 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
$24.0K $15.00/SF
− Vacancy
−$2.3K −$1.43/SF
EGI
$21.7K $13.58/SF
− OpEx
−$6.5K −$4.07/SF
NOI
$15.2K $9.50/SF
Area
Lewisville, TX
Vacancy
9.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$304,460
Cap Rate 7%
$217,471
Cap Rate 9%
$169,144
Alternative Uses
Best Use
Industrial
$217.5K
$190.3K – $253.7K
NOI $15,223 @ 7.0% cap · market cap 3.20%
Second Best
Flex RnD
$201.9K
$176.7K – $235.6K
NOI $14,136 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$534.1K
$467.3K – $623.1K
NOI $37,387 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,053
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75057, TX
16,001
Population
7,171
Households
2.2
Avg Household Size
31
Median Age
29%
College-Educated
83%
High-School Grad
13.3 sq mi
ZIP Area
1,203
Density / Sq Mi
$76,128
Median Household Income
$43,253
Median Earnings
$1,589
Median Rent
$208,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Upgraded loft-style garage suite with a mezzanine, fireplace lounge, and climate-controlled wine cellar in a gated community of private suites.
Where is this flex space located?
The property is located at 202-753 S Railroad St Lewisville, TX.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Fully customized 1,602‑SF loft‑style garage suite in a gated 3.5‑acre development with 63 privately owned suites; 25' x 50' expansive floorplan with soaring ceilings and sleek epoxy flooring; Custom‑built mezzanine to maximize usable space
