Finished Collector
For Sale
$485,000
2137 Chelsea Boulevard D12, Allen, TX 75013
Flexible private garage space with a mezzanine, upgraded electrical service, and dedicated areas for equipment, projects, and vehicle storage.
Property Size1,200 SF
Price / SF$404.17
Days on Market9
Property Features for 2137 Chelsea Boulevard D12
General Information
Standard status
Active
Size
1,200 SF
Additional Details
Highway Access
Yes
Drive-In Doors
1
Building Details
Year Built
2018
Listing Agency:
All City Real Estate, Ltd Co
(866) 277-6005
Listed By:
Kerri Kay
Source:
Yourdavisteam
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 25 at 5:52AM
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 1,200-square-foot private garage, built in 2018, is configured for vehicle storage, specialty equipment, and hobby work. The space includes epoxy-coated flooring, upgraded electrical service, enhanced lighting, reinforced flooring, substantial storage, and a mezzanine-level great room. The lower level has a half bathroom, laundry room, rustic barn doors, black powder-coated railings, and a staircase. Upstairs, engineered hardwood flooring, craftsman-style doors, a full bathroom, and a kitchen with stainless farmer's sink, microwave, refrigerator, garbage disposal, range, and temperature-controlled beverage refrigerator add finished amenity space.
The garage is located at 2137 Chelsea Boulevard D12 in Allen, with access between US 75 and State Highway 121. Community features include a clubhouse, trash dumpsters, RV dump station, exterior cameras, gates, fencing, and common-area maintenance. Owners also have access to community gatherings and shared oversight among garage occupants.
The garage is located at 2137 Chelsea Boulevard D12 in Allen, with access between US 75 and State Highway 121. Community features include a clubhouse, trash dumpsters, RV dump station, exterior cameras, gates, fencing, and common-area maintenance. Owners also have access to community gatherings and shared oversight among garage occupants.
Key Highlights
- 1,200‑square‑foot garage with a mezzanine and 2018 construction
- Ceiling heights range from 12 feet beneath the mezzanine to 25.6 feet at the rear
- Finished lower level includes a half bathroom and laundry room
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
$18,336
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
3.78%
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%
$366,720
$366.7K
Cap Rate 7%
$261,943
$261.9K
Cap Rate 9%
$203,733
$203.7K
Market Conditions
NOI Build-Up for 1,200 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
$28.9K $24.12/SF
− Vacancy
−$2.7K −$2.29/SF
EGI
$26.2K $21.83/SF
− OpEx
−$7.9K −$6.55/SF
NOI
$18.3K $15.28/SF
Area
Allen, TX
Vacancy
9.50%
Lease Rate
$24.12 /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%
$366,720
Cap Rate 7%
$261,943
Cap Rate 9%
$203,733
Alternative Uses
Best Use
Industrial
$261.9K
$229.2K – $305.6K
NOI $18,336 @ 7.0% cap · market cap 3.78%
Second Best
Flex RnD
$243.2K
$212.8K – $283.8K
NOI $17,026 @ 7.0% cap · market cap 3.51%
Theoretical Best
Warehouse
$318.1K
$278.3K – $371.1K
NOI $22,265 @ 7.0% cap · market cap 4.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75013, TX
48,360
Population
18,341
Households
2.6
Avg Household Size
37
Median Age
65%
College-Educated
97%
High-School Grad
15.0 sq mi
ZIP Area
3,224
Density / Sq Mi
$151,618
Median Household Income
$77,367
Median Earnings
$1,810
Median Rent
$561,000
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?
Parking lot & garage - Flexible private garage space with a mezzanine, upgraded electrical service, and dedicated areas for equipment, projects, and vehicle storage.
Where is this parking lot & garage located?
The property is located at 2137 Chelsea Boulevard D12 Allen, TX.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 1,200‑square‑foot garage with a mezzanine and 2018 construction; Ceiling heights range from 12 feet beneath the mezzanine to 25.6 feet at the rear; Finished lower level includes a half bathroom and laundry room
