Flex Space with Shop and
New
For Sale
$150,000
247 Rhoades Lane, Springtown, TX 76082
Unrestricted flex property with a cinderblock shop, utility connections, and covered outdoor workspace.
Property Size1,100 SF
Lot Size1.00 Acre
Price / SF$150
Days on Market2
Property Features for 247 Rhoades Lane
General Information
Standard status
Active
Size
1,100 SF
Lot size
1.00 Acre
Property subtype
Commercial
Zoning
No zoning. Can be commercial or resident
Additional Details
Fenced Yard
Yes
Power
200 amps
Building Details
Building Size
1,100 SF
Year Built
1984
Buildings
1
Stories
1
Units
1
Construction
cinderblock
Listing Agency:
eXp Realty, LLC
(888) 519-7431
Listed By:
Suzanne Eldridge Gore · License #0586636
(832) 247-4374
Source:
1111brokerage
Added: Sep 6
Last Checked: Aug 23 at 8:53AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
Located at 247 Rhoades Lane in Springtown, this unrestricted flex property occupies one acre with mature trees and a partially fenced lot. The 1984 improvements include an approximately 1,000-square-foot concrete cinderblock shop with a main work area and an additional secondary room. Electrical service includes 200 Amp capacity, along with two 50 amp connections. Interior and exterior-rated ceiling fans and fluorescent lighting are installed.
A 350-square-foot covered porch extends from the shop on a concrete slab, providing additional sheltered workspace or storage area. The property is approximately 50 miles from DFW Airport and 30 miles from the Joint Reserve Base in Fort Worth. The site also includes new electric service on both sides of the property.
A 350-square-foot covered porch extends from the shop on a concrete slab, providing additional sheltered workspace or storage area. The property is approximately 50 miles from DFW Airport and 30 miles from the Joint Reserve Base in Fort Worth. The site also includes new electric service on both sides of the property.
Key Highlights
- 1 acre with mature trees and a partially fenced lot
- Approximately 1000sf cinderblock shop built in 1984
- 200 Amp electrical service
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
$13,800
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
9.20%
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%
$276,000
$276.0K
Cap Rate 7%
$197,143
$197.1K
Cap Rate 9%
$153,333
$153.3K
Market Conditions
NOI Build-Up for 1,000 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
$24.0K $24.00/SF
− Vacancy
−$1.9K −$1.92/SF
EGI
$22.1K $22.08/SF
− OpEx
−$8.3K −$8.28/SF
NOI
$13.8K $13.80/SF
Area
Parker County, TX
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$276,000
Cap Rate 7%
$197,143
Cap Rate 9%
$153,333
Alternative Uses
Best Use
Industrial
$993.7K
$869.5K – $1.16M
NOI $69,556 @ 7.0% cap · market cap 46.37%
Second Best
Mixed Use
$197.1K
$172.5K – $230.0K
NOI $13,800 @ 7.0% cap · market cap 9.20%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76082, TX
21,514
Population
8,576
Households
2.5
Avg Household Size
40
Median Age
16%
College-Educated
87%
High-School Grad
102.8 sq mi
ZIP Area
209
Density / Sq Mi
$93,553
Median Household Income
$49,323
Median Earnings
$1,275
Median Rent
$277,900
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?
Flex space - Unrestricted flex property with a cinderblock shop, utility connections, and covered outdoor workspace.
Where is this flex space located?
The property is located at 247 Rhoades Lane Springtown, TX.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 1 acre with mature trees and a partially fenced lot; Approximately 1000sf cinderblock shop built in 1984; 200 Amp electrical service
