Flex Property with Warehouse
For Sale
$349,999
2526 Hullette Avenue, Lancaster, TX 75134
CommercialSale, Lancaster, TX
Property Size4,400 SF
Lot Size0.60 Acres
Price / SF$79.55
Days on Market51
Property Features for 2526 Hullette Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
warehouse industrial Office Building Salon
Parking features
Parking Lot, Open
Subdivision
Brownlee Park 02
Directions
GPS
Standard status
Active
APN
60019500040070000
Size
4,400 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Description
BROWNLEE PARK 2 BLK D LOT 7 ACS .596 VOL20051
Tax Annual Amount
4837
Legal Description
BROWNLEE PARK 2 BLK D LOT 7 ACS .596 VOL20051
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2003
Floors in Building
2
Number of units
3
Flooring type
Tile, Carpet, Wood
Building materials
Brick, WoodSiding
Roof type
Built-Up, Composition
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Yaser Alsabti · License #0784294
(888) 519-7431
Added: Jul 3
Changed: Aug 21
Last Checked: Aug 22 at 6:06PM
MLS# 21320429
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.
Investment Insights
Based on property information with market context.
This flex property consists of two parcels conveyed together, with a 4,400-square-foot office building, an attached salon unit, and a separate warehouse with additional yard area. The improvements were built in 2003 and include brick and wood siding, tile, carpet, and wood flooring, along with central heating and central air. Furniture, equipment, fixtures, and personal belongings located on the property are included in the sale.
The property is located at 2526 Hullette Avenue in Lancaster, Texas, with access to major highways noted in the listing information. On-site features include an open parking lot, public water, and public sewer. The combination of office, salon, warehouse, and yard improvements creates a varied commercial configuration, subject to applicable city zoning, approvals, and use restrictions.
The property is located at 2526 Hullette Avenue in Lancaster, Texas, with access to major highways noted in the listing information. On-site features include an open parking lot, public water, and public sewer. The combination of office, salon, warehouse, and yard improvements creates a varied commercial configuration, subject to applicable city zoning, approvals, and use restrictions.
Key Highlights
- Two parcels conveyed together under one transaction
- 4,400 square feet of building area on 0.596 acres
- Office building includes an 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
7.91%
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 17.82%
Second Best
Warehouse
$395.7K
$346.2K – $461.6K
NOI $27,696 @ 7.0% cap · market cap 7.91%
Theoretical Best
Multifamily LT 5
$52.74M
$46.15M – $61.53M
NOI $3,691,888 @ 7.0% cap · market cap 1,054.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
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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- Spencer's Culinary Creations — 2131 Stonewood Dr, Lancaster, TX 75134
Frequently Asked Questions
What type of property is this?
Flex space - Two parcels combine office, salon, warehouse, and open yard components for varied commercial operations.
Where is this flex space located?
The property is located at 2526 Hullette Avenue Lancaster, TX.
What is the asking price?
The asking price for this property is $349,999.
What are key features of this property?
This property features: Two parcels conveyed together under one transaction; 4,400 square feet of building area on 0.596 acres; Office building includes an attached salon unit
