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    Fully Renovated Office & Shop Title is generated by Realmo AI

    207 S Rex Avenue, Forsan, TX 79733

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    Claim this Listing
    For Sale
    $250,000

    SINGLE_FAMILY - TX

    Type:Office
    Lot size:
    0.16 Acres
    Added:
    Oct 7, 2025
    Days on Market:
    240
    Last Refresh:
    Jun 3 at 11:06 pm

    Property Features for 207 S Rex Avenue

    General Information

    Property type
    Residential
    Property subtype
    Office
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    F4890091700
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Description
    LTS 10-11 BK 44 ORIGINAL TOWN FORSAN 50X140 3
    Tax Annual Amount
    1482

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1981
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Vinyl
    Building materials
    MetalSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Amy Dennis

    Listing agent Amy Dennis

    Listing office Real Broker (3) TX

    Listing date Oct 7, 2025

    MLS# 21081079

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully renovated office and shop space at 207 Rex Ave with private office, spacious conference room, kitchenette, and restroom
    • New vinyl plank flooring, custom wood cabinetry, and fresh paint throughout
    • Metal roof was recently replaced; HVAC system is less than 5 years old with central heating and central air
    • Insulated shop for commercial uses; metal siding exterior and metal roof
    • Fully enclosed with brand new chain link and barbed wire fencing
    • Parking lot on‑site; public water and septic tank; off a paved road with recent caliche and dirt work for access

    Overview

    This fully renovated office and shop space is designed for practical day-to-day operations, with a private office, spacious conference room, kitchenette, and restroom. Interior updates include new vinyl plank flooring, custom wood cabinetry, and fresh paint throughout, creating a professional environment for client-facing work. A dedicated insulated shop supports a range of commercial uses, while major systems and exterior elements have been refreshed, including a recently replaced metal roof and an HVAC system that is less than five years old.

    The property at 207 S Rex Avenue is fully enclosed with brand new chain link and barbed wire fencing, supporting secure storage or workflow on site. It is conveniently located off a paved road, and recent caliche and dirt work were completed to improve access and durability.

    For owners, buyers, or operators seeking a move-in-ready live/work or service-focused footprint, this layout offers distinct office space alongside a functional insulated shop. The enclosed site and recent exterior improvements make it well-suited for businesses that need both administration space and space for equipment, materials, or light commercial activities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Forsan
    County
    Howard
    State
    Texas
    Longitude
    -101.36584
    Latitude
    32.10853

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    FAQs

    What type of property is this?
    Office units - A clean, fully renovated setup with a private office and insulated shop built for flexible commercial operations.
    Where is this office units located?
    The property is located at 207 S Rex Avenue Forsan, TX.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Fully renovated office and shop space at 207 Rex Ave with private office, spacious conference room, kitchenette, and restroom; New vinyl plank flooring, custom wood cabinetry, and fresh paint throughout; Metal roof was recently replaced; HVAC system is less than 5 years old with central heating and central air
    (855) 450-0442
    We can help!
    Listing Contact
    Amy Dennis
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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