Ennis Warehouse and Distribution
For Sale
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2407-2411 N Preston St, Ennis, TX
66,500 SF warehouse and distribution property with I-45 access.
Property Size66,500 SF
Lot Size3.00 Acres
Price / SF$78.95
Days on Market1065
Property Features for 2407-2411 N Preston St
General Information
Standard status
Active
Size
66,500 SF
Lot size
3.00 Acres
Property subtype
INDUSTRIAL
Lease Type
NNN
Properties For Sale
at 2407-2411 N Preston St Contact us- Floor
- Bldg
- Size
- 66,500 SF
- Type
- INDUSTRIAL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
2407 - 2411 N Preston St
- Total size: 66,500 SF
- Large building: 62,500 SF
- Small building: 4,000 SF
-...
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Listing Agency:
The Jackson Company
Listed By:
David Jackson · License #0276047
(214) 244-4424
Source:
Moodyscre
Added: Oct 10, 2023
Changed: Sep 5
Last Checked: Sep 8 at 9:22AM
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 The Jackson Company
Investment Insights
Based on property information with market context.
This property features a total size of 66,500 square feet, including a 62,500-square-foot large building and a 4,000-square-foot small building. Constructed in 1961, 1980, and 1994, the property sits on a 3.21-acre lot, equivalent to 139,827 square feet. The buildings offer clear heights ranging from 14 to 20 feet. Parking is available with 30+ spaces. The property includes six dock-high doors and one grade-level door. It is equipped with 3-Phase, 240v 200amps power. The location provides easy access to I-45 and 287, making it suitable for warehouse and distribution purposes.
Key Highlights
- Large building size: 62,500 SF
- Easy access to I‑45 & 287
- Significant lot size: 3.21 Acres (139,827 SF)
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
$462,431
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
8.81%
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%
$9,248,620
$9.2M
Cap Rate 7%
$6,606,157
$6.6M
Cap Rate 9%
$5,138,122
$5.1M
Market Conditions
NOI Build-Up for 66,500 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
$598.5K $9.00/SF
− Vacancy
−$54.5K −$0.82/SF
EGI
$544.0K $8.18/SF
− OpEx
−$81.6K −$1.23/SF
NOI
$462.4K $6.95/SF
Area
Ellis County, TX
Vacancy
9.10%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$9,248,620
Cap Rate 7%
$6,606,157
Cap Rate 9%
$5,138,122
Alternative Uses
Best Use
Warehouse
$6.61M
$5.78M – $7.71M
NOI $462,431 @ 7.0% cap · market cap 8.81%
Second Best
Industrial
$4.92M
$4.31M – $5.75M
NOI $344,723 @ 7.0% cap · market cap 6.57%
Theoretical Best
Multifamily LT 5
$725.62M
$634.92M – $846.56M
NOI $50,793,721 @ 7.0% cap · market cap 967.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Ideal Self Storage - Ennis — 2312 N Preston St, Ennis, TX 75119
- Preston Self Storage — 2408 N Preston St, Ennis, TX 75119
- Go Store It Self Storage — 2501 N Kaufman St, Ennis, TX 75119
- The Storage Center — 3000 NE Main St, Ennis, TX 75119
Frequently Asked Questions
What type of property is this?
Warehouse - 66,500 SF warehouse and distribution property with I-45 access.
Where is this warehouse located?
The property is located at 2407-2411 N Preston St Ennis, TX.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: Large building size: 62,500 SF; Easy access to I‑45 & 287; Significant lot size: 3.21 Acres (139,827 SF)
