Turnkey Office Condo with Four
For Sale
Contact for pricing
230 O Connor Ridge Boulevard, Irving, TX 75038
Move-in-ready, fully furnished office condo built in 2020 with four private offices, kitchen, server room, and speaker system.
Property Size1,249 SF
Price / SF$520.42
Days on Market72
Property Features for 230 O Connor Ridge Boulevard
General Information
Standard status
Active
Size
1,249 SF
Class
B
Property subtype
Office
Zoning
PD – Professional Development. Buyer to verify zoning and permitted uses with the City of Irving.
Lease Type
NNN
Investment Type
Owner/User
Additional Details
Business Included
Yes
Highway Access
Yes
Office Units
4
Building Details
Year Built
2020
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
BK Real Estate
(972) 350-5000
Listed By:
Nick Patel · License #0705654
Source:
Crexi
Added: May 29
Changed: Aug 8
Last Checked: Aug 8 at 3:24PM
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 BK Real Estate
Investment Insights
Based on property information with market context.
Built in 2020, this one-story office condo is designed for immediate occupancy with a turnkey, move-in-ready interior. The layout includes four private offices, a large kitchen area, a dedicated server room, and a built-in speaker system throughout. High-end finishes are already in place, and the property is being sold fully furnished to support a professional, ready-to-operate environment.
The property is positioned just off Highway 114 in Las Colinas and is near the Toyota Music Factory, providing convenient access within an established office corridor in Irving. Las Colinas is known for a mix of office, residential, retail, dining, entertainment, and recreation, along with convenient access to DFW International Airport and Dallas Love Field.
This setup can fit a range of professional and client-facing needs, including professional services, consulting, real estate, financial services, and medical-adjacent use. It also supports showroom or boutique business headquarters use, where a dedicated office configuration and built-in technology can help streamline day-to-day operations for an owner-user or investor.
The property is positioned just off Highway 114 in Las Colinas and is near the Toyota Music Factory, providing convenient access within an established office corridor in Irving. Las Colinas is known for a mix of office, residential, retail, dining, entertainment, and recreation, along with convenient access to DFW International Airport and Dallas Love Field.
This setup can fit a range of professional and client-facing needs, including professional services, consulting, real estate, financial services, and medical-adjacent use. It also supports showroom or boutique business headquarters use, where a dedicated office configuration and built-in technology can help streamline day-to-day operations for an owner-user or investor.
Key Highlights
- Office condo built in 2020 with move‑in‑ready, fully furnished interior
- One‑story suite layout includes four private offices
- Large kitchen area plus dedicated server 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
$20,076
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
3.09%
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%
$401,520
$401.5K
Cap Rate 7%
$286,800
$286.8K
Cap Rate 9%
$223,067
$223.1K
Market Conditions
NOI Build-Up for 1,249 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
$30.1K $24.12/SF
− Vacancy
−$1.4K −$1.16/SF
EGI
$28.7K $22.96/SF
− OpEx
−$8.6K −$6.89/SF
NOI
$20.1K $16.07/SF
Area
Irving, TX
Vacancy
4.80%
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%
$401,520
Cap Rate 7%
$286,800
Cap Rate 9%
$223,067
Alternative Uses
Best Use
Retail
$286.8K
$251.0K – $334.6K
NOI $20,076 @ 7.0% cap · market cap 3.09%
Second Best
Office B
$240.2K
$210.2K – $280.3K
NOI $16,817 @ 7.0% cap · market cap 2.59%
Theoretical Best
Office A
$320.3K
$280.3K – $373.7K
NOI $22,422 @ 7.0% cap · market cap 3.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,888
Businesses Nearby
Explore this area
Business Placement
Demographics for 75038, TX
32,928
Population
15,385
Households
2.1
Avg Household Size
32
Median Age
45%
College-Educated
93%
High-School Grad
7.6 sq mi
ZIP Area
4,333
Density / Sq Mi
$69,013
Median Household Income
$47,093
Median Earnings
$1,467
Median Rent
$391,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Move-in-ready, fully furnished office condo built in 2020 with four private offices, kitchen, server room, and speaker system.
Where is this office units located?
The property is located at 230 O Connor Ridge Boulevard Irving, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Office condo built in 2020 with move‑in‑ready, fully furnished interior; One‑story suite layout includes four private offices; Large kitchen area plus dedicated server room
