Flex Shop with Fenced
For Sale
$150,000
247 Rhoades Ln, Springtown, TX 76082
Cinder block and concrete shop with double-wide end doors, fenced yard, and 200-amp underground electric service.
Property Size1,100 SF
Lot Size1.00 Acre
Price / SF$136.36
Days on Market40
Property Features for 247 Rhoades Ln
General Information
Standard status
Active
Size
1,100 SF
Lot size
1.00 Acre
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Heavy Power
Yes
Taxes and HOA fees
Annual Taxes
$923
Building Details
Construction
cinder block and concrete
Listing Agency:
eXp Realty, LLC
(888) 519-7431
Listed By:
Suzanne Eldridge Gore · License #0586636
(888) 519-7431
Source:
Exprealty
Added: Jul 15
Changed: Aug 23
Last Checked: Aug 22 at 4:08AM
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.
This flex property includes an approximately 1,000-square-foot cinder block and concrete shop with double-wide doors on each end. A back room offers additional space that can be used for storage, an office, or other needs. The shop is served by a 200-amp underground electric service with a new breaker panel, multiple LED shop lights, and indoor-outdoor ceiling fans. Two 50-amp outlets are installed, and air lines are run to the front shop, supporting equipment or workshop power needs.
Approximately half of the property is fenced, helping define usable outdoor space. The site is located outside the city limits with no HOA and no restrictions, positioned about 1,000 feet from Highway 199 behind the Dollar Store for practical roadway access while maintaining a quieter setting.
Designed for flexibility, the building and yard configuration can support light industrial or service-oriented operations, with built-in workspace plus room for parts, tools, and equipment storage within the enclosed shop area and the fenced portion of the yard.
Approximately half of the property is fenced, helping define usable outdoor space. The site is located outside the city limits with no HOA and no restrictions, positioned about 1,000 feet from Highway 199 behind the Dollar Store for practical roadway access while maintaining a quieter setting.
Designed for flexibility, the building and yard configuration can support light industrial or service-oriented operations, with built-in workspace plus room for parts, tools, and equipment storage within the enclosed shop area and the fenced portion of the yard.
Key Highlights
- 1984‑built cinder block and concrete shop with approximately 1,000 SF and double‑wide doors on each end
- 200‑amp underground electric service with new breaker panel, plus 3 LED shop lights and two 62 in indoor/outdoor ceiling fans
- Two 50‑amp outlets installed: one for an RV or welder and one for an air compressor with air lines to the front shop
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
$8,065
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
5.38%
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%
$161,300
$161.3K
Cap Rate 7%
$115,214
$115.2K
Cap Rate 9%
$89,611
$89.6K
Market Conditions
NOI Build-Up for 1,100 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
$13.2K $12.00/SF
− Vacancy
−$792 −$0.72/SF
EGI
$12.4K $11.28/SF
− OpEx
−$4.3K −$3.95/SF
NOI
$8.1K $7.33/SF
Area
Parker County, TX
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$161,300
Cap Rate 7%
$115,214
Cap Rate 9%
$89,611
Alternative Uses
Best Use
Industrial
$1.09M
$956.4K – $1.28M
NOI $76,512 @ 7.0% cap · market cap 51.01%
Second Best
Flex RnD
$115.2K
$100.8K – $134.4K
NOI $8,065 @ 7.0% cap · market cap 5.38%
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
Heavy power
Yes
Fenced yard
Yes
Highway access
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Cinder block and concrete shop with double-wide end doors, fenced yard, and 200-amp underground electric service.
Where is this flex space located?
The property is located at 247 Rhoades Ln 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: 1984‑built cinder block and concrete shop with approximately 1,000 SF and double‑wide doors on each end; 200‑amp underground electric service with new breaker panel, plus 3 LED shop lights and two 62 in indoor/outdoor ceiling fans; Two 50‑amp outlets installed: one for an RV or welder and one for an air compressor with air lines to the front shop
