Building Details

Year Built 1988

Listing Agency: Keller Williams Legacy

Listed By: Chad Stephens · License #0434869 Show Phone

Source: Yourdavisteam

Added: Sep 18 Changed: Oct 25 Last Checked: Oct 7 at 3:50PM

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Investment Insights

Based on property information with market context.

This flex property includes an approximately 8,000 SF metal building on 3.58 acres, with a business operation, inventory, tools, equipment, and FF&E offered as a complete package. Approximately 1,600 SF is configured for offices, bathrooms, a parts department, and workroom functions, while an additional upstairs loft provides approximately 1,600 SF. The approximately 6,400 SF shop includes four overhead doors with automatic openers, two personnel doors, LED lighting, gas heaters, air lines, and predominantly insulated construction.

A fully fenced 6-foot chain-link yard supports secure outdoor storage and equipment use. Concrete drives serve the shop, and aggregate parking accommodates customers, vehicles, inventory, and equipment. The property is located at 2460 Farm Road 79 in Paris, Texas, and was built in 1988. Zoning, permitted uses, licensing, and city requirements should be independently verified.

Key Highlights

• Approximately 8,000 SF metal building on 3.58 acres
• Approximately 6,400 SF shop with four overhead doors
• Approximately 1,600 SF of offices, bathrooms, parts department, and workroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$49,588

Cap Rate

3.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$991,760 $991.8K

Cap Rate 7%

$708,400 $708.4K

Cap Rate 9%

$550,978 $551.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,000 SF

Gross rent

$64.3K $8.04/SF

− Vacancy

−$6.0K −$0.75/SF

EGI

$58.3K $7.29/SF

− OpEx

−$8.8K −$1.09/SF

NOI

$49.6K $6.20/SF

Area

Lamar County, TX

Vacancy

9.30%

Lease Rate

$8.04 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$991,760

Cap Rate 7%

$708,400

Cap Rate 9%

$550,978

Alternative Uses

Best Use

Warehouse

$708.4K

$619.9K – $826.5K (±1% cap)

NOI $49,588 @ 7.0% cap · market cap 3.42%

Second Best

Industrial

$583.4K

$510.5K – $680.6K (±1% cap)

NOI $40,837 @ 7.0% cap · market cap 2.82%

Theoretical Best

Hotel Hospitality

$6.03M

$5.27M – $7.03M (±1% cap)

NOI $421,800 @ 7.0% cap · market cap 29.09%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Auto Parts Store Grocery & Convenience Store (Bike/Boat/Book/etc) Store Computer & Electronic Repair Electrical Service Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

70

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 75460, TX

22,925

Population

11,210

Households

2

Avg Household Size

38

Median Age

17%

College-Educated

88%

High-School Grad

101.9 sq mi

ZIP Area

225

Density / Sq Mi

$44,241

Median Household Income

$30,546

Median Earnings

$895

Median Rent

$123,300

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Metal building combines offices, shop space, and fenced outdoor storage.

Where is this flex space located?

The property is located at 2460 Farm Road 79 Paris, TX.

What is the asking price?

The asking price for this property is $1,450,000.

What are key features of this property?

This property features: Approximately 8,000 SF metal building on 3.58 acres; Approximately 6,400 SF shop with four overhead doors; Approximately 1,600 SF of offices, bathrooms, parts department, and workroom