Pilot Point Commercial
224 W Division St, Pilot Point, TX 76258
For Sale
$2,400,000
Commercial property in growing US-377 corridor, Pilot Point, TX.
Property Size14,770 SF
Price / SF$162.49
Days on Market231
Property Features for 224 W Division St
General Information
Standard status
Size
Property subtype
Building Details
Building Size
Listing Agency:
Matthews Real Estate Investment Services | Dallas
Listed By:
Cameron Fitzpatrick · License TX #812688
(972) 636-5724
Source:
Matthews
Added: Mar 27
Changed: Oct 26
Last Checked: Nov 12 at 4:10AM
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 Matthews Real Estate Investment Services | Dallas
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Investment Insights
Based on property information with market context.
This commercial property is located in downtown Pilot Point, Texas, within the US-377 growth corridor. The property includes flex space, industrial space, retail space, and warehouse space. Recent capital improvements include a new TPO roof installed in March 2024 and all new HVAC installed in 2019. The facility is fully climate controlled. The property was completely remodeled from shell up in 2019. The property has a size of 14770 square feet.
Key Highlights
- Downtown Pilot Point location in US‑377 Growth Corridor
- Recent New TPO roof installed March 2024
- Fully climate controlled facility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,811
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,516,220
$1.5M
Cap Rate 7%
$1,083,014
$1.1M
Cap Rate 9%
$842,344
$842.3K
Market Conditions
NOI Build-Up for 14,770 SF
Gross rent
$118.8K $8.04/SF
− Vacancy
−$10.5K −$0.71/SF
EGI
$108.3K $7.33/SF
− OpEx
−$32.5K −$2.20/SF
NOI
$75.8K $5.13/SF
Area
Denton County, TX
Vacancy
8.80%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,516,220
Cap Rate 7%
$1,083,014
Cap Rate 9%
$842,344
Alternative Uses
Best Use
Industrial
$1.08M
$947.6K – $1.26M
NOI $75,811 @ 7.0% cap · market cap 3.16%
Second Best
Flex RnD
$1.05M
$922.4K – $1.23M
NOI $73,789 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$5.20M
$4.55M – $6.06M
NOI $363,696 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 76258, TX
7,409
Population
3,079
Households
2.4
Avg Household Size
41
Median Age
30%
College-Educated
82%
High-School Grad
90.3 sq mi
ZIP Area
82
Density / Sq Mi
$93,661
Median Household Income
$51,382
Median Earnings
$1,224
Median Rent
$320,200
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Denton County, TX
Properties on Market for Flex space in Denton County
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Commercial property in growing US-377 corridor, Pilot Point, TX.
Where is this flex space located?
The property is located at 224 W Division St Pilot Point, TX.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Downtown Pilot Point location in US‑377 Growth Corridor; Recent New TPO roof installed March 2024; Fully climate controlled facility
