Flex Space with
For Sale
$385,000
2526 Hullette Ave, Lancaster, TX 75134
Office, salon, warehouse, and yard components are combined across two parcels sold together.
Property Size4,400 SF
Price / SF$87.50
Days on Market15
Property Features for 2526 Hullette Ave
General Information
Standard status
Active
Size
4,400 SF
Building Details
Year Built
2003
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Yaser Alsabti · License #0784294
Source:
Christenberrygroup
Added: Aug 16
Changed: Aug 30
Last Checked: Aug 30 at 5:08AM
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 combines 4,400 SF of commercial space across two parcels conveyed together under one deed. The improvements include an office building with an attached salon unit, plus a separate warehouse accompanied by additional yard area. The configuration supports a combination of office, salon, storage, and warehouse functions within one commercial acquisition.
The property was built in 2003 and offers access to major highways. Furniture, equipment, fixtures, and personal belongings currently situated on the premises are included in the sale. The additional yard area provides outdoor space alongside the warehouse, while zoning and permitted uses remain subject to independent verification and applicable approvals.
The property was built in 2003 and offers access to major highways. Furniture, equipment, fixtures, and personal belongings currently situated on the premises are included in the sale. The additional yard area provides outdoor space alongside the warehouse, while zoning and permitted uses remain subject to independent verification and applicable approvals.
Key Highlights
- 4,400 SF of commercial space
- Two parcels under one deed; both must be sold together
- Office building with attached salon unit
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
$27,696
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
7.19%
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%
$553,920
$553.9K
Cap Rate 7%
$395,657
$395.7K
Cap Rate 9%
$307,733
$307.7K
Market Conditions
NOI Build-Up for 4,400 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
$35.7K $8.12/SF
− Vacancy
−$3.1K −$0.71/SF
EGI
$32.6K $7.41/SF
− OpEx
−$4.9K −$1.11/SF
NOI
$27.7K $6.29/SF
Area
Dallas County, TX
Vacancy
8.80%
Lease Rate
$8.12 /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%
$553,920
Cap Rate 7%
$395,657
Cap Rate 9%
$307,733
Alternative Uses
Best Use
Office B
$891.0K
$779.6K – $1.04M
NOI $62,370 @ 7.0% cap · market cap 16.20%
Second Best
Warehouse
$395.7K
$346.2K – $461.6K
NOI $27,696 @ 7.0% cap · market cap 7.19%
Theoretical Best
Multifamily LT 5
$52.74M
$46.15M – $61.53M
NOI $3,691,888 @ 7.0% cap · market cap 958.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75134, TX
20,194
Population
7,003
Households
2.9
Avg Household Size
34
Median Age
22%
College-Educated
87%
High-School Grad
10.6 sq mi
ZIP Area
1,905
Density / Sq Mi
$66,134
Median Household Income
$48,605
Median Earnings
$1,762
Median Rent
$216,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Spencer's Culinary Creations — 2131 Stonewood Dr, Lancaster, TX 75134
Frequently Asked Questions
What type of property is this?
Flex space - Office, salon, warehouse, and yard components are combined across two parcels sold together.
Where is this flex space located?
The property is located at 2526 Hullette Ave Lancaster, TX.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 4,400 SF of commercial space; Two parcels under one deed; both must be sold together; Office building with attached salon unit
