Single-Story Office
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 Market50
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
Listed By:
Debbie Keach · License #0297248
(972) 366-4179
Source:
Soldbywes
Added: Aug 19
Changed: Oct 2
Last Checked: Oct 5 at 11:32PM
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 / Yr
$132,334
Cap Rate
8.14%
Suggested Prices Based on Cap Rates
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
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 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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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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
