Single-Story Office
New
For Sale
$1,625,000
2345 State Highway 121, Lewisville, TX 75056
General Business zoning supports office, retail, showroom, service, and select automotive-related uses.
Property Size8,233 SF
Days on Market4
Property Features for 2345 State Highway 121
General Information
Standard status
Active
Size
8,233 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$17,457
Building Details
Building Size
8,233 SF
Year Built
1987
Listing Agency:
RE/MAX DFW Associates
(972) 366-4179
Listed By:
Debbie Keach · License #0297248
Source:
Soldbywes
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 21 at 10:19AM
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 RE/MAX DFW Associates
Investment Insights
Based on property information with market context.
This single-story commercial building is currently used as a church and was originally constructed for bank operations. The improvements include a vault, 9 plus private offices, a conference room, kitchen, and mechanical room, along with air conditioning throughout. A drive-through canopy remains in place and can provide covered parking.
The property occupies 1.79 acres in a level, rectangular configuration with excess of 100 parking spaces. Additional yard area accommodates company vehicles or storage. General Business zoning provides for a broad range of retail, office, showroom, service, and certain automobile-related uses serving local residents and businesses.
The property occupies 1.79 acres in a level, rectangular configuration with excess of 100 parking spaces. Additional yard area accommodates company vehicles or storage. General Business zoning provides for a broad range of retail, office, showroom, service, and certain automobile-related uses serving local residents and businesses.
Key Highlights
- General Business zoning allows a broad range of retail, office, showroom, service, and select automotive‑related uses
- 1.79‑acre level, rectangular commercial site
- 9 plus private offices with conference room, kitchen, and mechanical 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
$132,334
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
8.14%
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%
$2,646,680
$2.6M
Cap Rate 7%
$1,890,486
$1.9M
Cap Rate 9%
$1,470,378
$1.5M
Market Conditions
NOI Build-Up for 8,233 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
$198.6K $24.12/SF
− Vacancy
−$9.5K −$1.16/SF
EGI
$189.0K $22.96/SF
− OpEx
−$56.7K −$6.89/SF
NOI
$132.3K $16.07/SF
Area
Lewisville, 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%
$2,646,680
Cap Rate 7%
$1,890,486
Cap Rate 9%
$1,470,378
Alternative Uses
Best Use
Office B
$2.18M
$1.91M – $2.54M
NOI $152,418 @ 7.0% cap · market cap 9.38%
Second Best
Retail
$1.89M
$1.65M – $2.21M
NOI $132,334 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $192,138 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
829
Businesses Nearby
Explore this area
Business Placement
Demographics for 75056, TX
67,570
Population
28,102
Households
2.4
Avg Household Size
36
Median Age
54%
College-Educated
95%
High-School Grad
23.6 sq mi
ZIP Area
2,863
Density / Sq Mi
$116,806
Median Household Income
$64,197
Median Earnings
$1,808
Median Rent
$414,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - General Business zoning supports office, retail, showroom, service, and select automotive-related uses.
Where is this office building located?
The property is located at 2345 State Highway 121 Lewisville, TX.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: General Business zoning allows a broad range of retail, office, showroom, service, and select automotive‑related uses; 1.79‑acre level, rectangular commercial site; 9 plus private offices with conference room, kitchen, and mechanical room
