Luxury Garage Condo with
For Sale
$499,000
211-1725 N Main St, Roanoke, TX 76262
Turnkey, insulated garage condominium with full fire sprinklers, HVAC, and a finished mezzanine in a private gated community.
Property Size1,500 SF
Price / SF$332.67
Days on Market55
Property Features for 211-1725 N Main St
General Information
Standard status
Active
Size
1,500 SF
Warehouse & Industrial
Drive-In Doors
1
Sprinkler System
Yes
Building Details
Year Built
2022
Listing Agency:
All City Real Estate, Ltd Co
(866) 277-6005
Listed By:
Kerri Kay
(866) 277-6005
Source:
Exprealty
Added: Jun 13
Changed: Jul 10
Last Checked: Jul 31 at 7:52PM
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 All City Real Estate, Ltd Co
Investment Insights
Based on property information with market context.
This luxury garage condominium is offered in turnkey condition and features a main-level garage plus an extended, finished mezzanine. The unit includes an 18' x 14' insulated garage door and a separate 3' entry door, with full fire-sprinkler coverage. Interior finishes include epoxy-coated floors, painted walls and ceilings, HVAC with custom spiral ductwork, instant hot water, and an added electrical package. A full bathroom with a walk-in shower, a shop sink, faux-brick accents, and a storage closet under the stairs support day-to-day usability.
The mezzanine area includes a 50% extension upgrade with powder-coated steel railing and a live-edge bar, along with red oak staircase treads, vinyl hardwood flooring, and custom cabinetry with granite and sink. The space is further supported by two commercial-grade fans and new LED high-bay lighting, plus decorative pendant fixtures. The sale also includes two flat-screen TVs, a refrigerator, an ice machine, and four Husky industrial-grade shelving units.
Located within a Roanoke private gated community, the development consists of 93 individually owned garages and an owners-only clubhouse. Built between 2020 and 2022 and sold out for years, this condo provides a designed, finished option for private storage and hobby use without requiring an immediate build-out.
The mezzanine area includes a 50% extension upgrade with powder-coated steel railing and a live-edge bar, along with red oak staircase treads, vinyl hardwood flooring, and custom cabinetry with granite and sink. The space is further supported by two commercial-grade fans and new LED high-bay lighting, plus decorative pendant fixtures. The sale also includes two flat-screen TVs, a refrigerator, an ice machine, and four Husky industrial-grade shelving units.
Located within a Roanoke private gated community, the development consists of 93 individually owned garages and an owners-only clubhouse. Built between 2020 and 2022 and sold out for years, this condo provides a designed, finished option for private storage and hobby use without requiring an immediate build-out.
Key Highlights
- Luxury garage condo in a Roanoke private gated community with 93 individually owned garages and an owners‑only clubhouse
- Built 2020–2022; unit offers ~1,000 SF main level plus an extended 500 SF mezzanine
- Insulated garage door size 18' x 14' with a 3' entry door, plus full fire‑sprinkler coverage
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
$14,137
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
2.83%
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%
$282,740
$282.7K
Cap Rate 7%
$201,957
$202.0K
Cap Rate 9%
$157,078
$157.1K
Market Conditions
NOI Build-Up for 1,500 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
$21.6K $14.40/SF
− Vacancy
−$1.4K −$0.94/SF
EGI
$20.2K $13.46/SF
− OpEx
−$6.1K −$4.04/SF
NOI
$14.1K $9.42/SF
Area
Denton County, TX
Vacancy
6.50%
Lease Rate
$14.40 /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%
$282,740
Cap Rate 7%
$201,957
Cap Rate 9%
$157,078
Alternative Uses
Best Use
Self Storage
$202.0K
$176.7K – $235.6K
NOI $14,137 @ 7.0% cap · market cap 2.83%
Second Best
Warehouse
$133.6K
$116.9K – $155.8K
NOI $9,349 @ 7.0% cap · market cap 1.87%
Theoretical Best
Multifamily LT 5
$20.98M
$18.35M – $24.47M
NOI $1,468,365 @ 7.0% cap · market cap 294.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
690
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76262, TX
42,592
Population
16,260
Households
2.6
Avg Household Size
37
Median Age
58%
College-Educated
96%
High-School Grad
42.3 sq mi
ZIP Area
1,007
Density / Sq Mi
$143,093
Median Household Income
$72,418
Median Earnings
$1,752
Median Rent
$527,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Parking lot & garage - Turnkey, insulated garage condominium with full fire sprinklers, HVAC, and a finished mezzanine in a private gated community.
Where is this parking lot & garage located?
The property is located at 211-1725 N Main St Roanoke, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Luxury garage condo in a Roanoke private gated community with 93 individually owned garages and an owners‑only clubhouse; Built 2020–2022; unit offers ~1,000 SF main level plus an extended 500 SF mezzanine; Insulated garage door size 18' x 14' with a 3' entry door, plus full fire‑sprinkler coverage
