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    Warehouse with Office & Storage Title is generated by Realmo AI

    251 Southern Drive, Royse City, TX 75189

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    Claim this Listing
    For Sale
    $1,190,000

    COMMERCIAL - Royse City, TX

    Lot size:
    1.50 Acres
    Added:
    Apr 7, 2026
    Days on Market:
    58
    Last Refresh:
    Jun 3 at 2:06 pm

    Property Features for 251 Southern Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    000000032760
    Lot size
    1.50 Acres

    Taxes and HOA fees

    Tax Description
    276 BUSINESS PARK (UNRECORDED), LOT 4, ACRES
    Tax Annual Amount
    5206

    Utilities

    Heating system
    Central
    Cooling system
    Ceiling Fan(s), Central Air

    Building Details

    Year built
    1995
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Concrete, Carpet
    Building materials
    MetalSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Cathleen Lewis
    Cathleen Lewis

    Listing agent Cathleen Lewis License #0564899

    Listing office Call It Closed Realty GRANBURY, TX

    Listing date Apr 7, 2026

    MLS# 20979205

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Metal siding exterior with a metal roof
    • Central heating and central air with ceiling fan(s)
    • 1995 construction with concrete and carpet flooring
    • Interior includes offices, a conference room, bay areas, storage, and a kitchen
    • Includes additional storage‑warehouse space with extended concrete on both sides
    • Fully fenced property with large concrete parking lot and room for additional parking or expansion

    Overview

    This property combines functional warehouse operations with dedicated office and support space. Inside, you’ll find offices and a conference room, along with bay areas and multiple storage zones to support day-to-day work. A kitchen is also included, adding convenience for on-site staff. The additional storage-warehouse space features extended concrete on both sides, supporting practical staging and movement around the building.

    Set on a fully fenced site, the property includes a large concrete parking lot and additional room to park vehicles or plan future expansion. It is located within a busy business park and offers easy access for customers, tenants, and deliveries.

    With its mix of office space, conference room, bays, and substantial storage, this layout can fit a range of industrial or distribution-oriented uses, including businesses that need both workspace and on-site operational capacity. The extended concrete and ample paved area make it well-suited for organizations that rely on vehicle access, staging, and efficient use of exterior space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Paul L Whitney ... Consultant

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Nail Salon Auto Repair Shop Pharmacy Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Royse City
    County
    Rockwall
    State
    Texas
    Longitude
    -96.363788
    Latitude
    32.902244

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    FAQs

    What type of property is this?
    Flex space - Fully fenced warehouse with offices, conference space, and extended concrete for practical loading and storage flexibility.
    Where is this flex space located?
    The property is located at 251 Southern Drive Royse City, TX.
    What is the asking price?
    The asking price for this property is $1,190,000.
    What are key features of this property?
    This property features: Metal siding exterior with a metal roof; Central heating and central air with ceiling fan(s); 1995 construction with concrete and carpet flooring
    (817) 706-6582
    We can help!
    Listing Contact
    Cathleen Lewis
    Cathleen Lewis
    Real Estate License ID: 0564899
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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