Storefront
For Sale
$799,900
Pending
276 Lesliewood, Red Oak, TX 75154
Retail/commercial zoning with central air, ceiling fans, natural gas, and an asphalt exterior.
Property Size1,600 SF
Days on Market137
Property Features for 276 Lesliewood
General Information
Standard status
Pending
Size
1,600 SF
Property subtype
Commercial
Building Details
Year Built
1987
Listing Agency:
Inderman + Leija
Listed By:
Chelsie Andrews · License #0817538
(903) 915-9010
Source:
Dfwareahousehunt
Added: May 13
Changed: Sep 24
Last Checked: Sep 26 at 7:18AM
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 Inderman + Leija
Investment Insights
Based on property information with market context.
This storefront property was built in 1987 and includes central air, ceiling fans, and natural gas service. The exterior features asphalt, providing a straightforward commercial property profile for retail-oriented use.
The property is located at 276 Lesliewood in Red Oak, Ellis County, Texas. Its zoning is identified as currently retail/commercial.
The property is located at 276 Lesliewood in Red Oak, Ellis County, Texas. Its zoning is identified as currently retail/commercial.
Key Highlights
- Retail/commercial zoning
- Built in 1987
- Central air and ceiling fans
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
$26,557
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
3.32%
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%
$531,140
$531.1K
Cap Rate 7%
$379,386
$379.4K
Cap Rate 9%
$295,078
$295.1K
Market Conditions
NOI Build-Up for 1,600 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
$39.9K $24.96/SF
− Vacancy
−$2.0K −$1.25/SF
EGI
$37.9K $23.71/SF
− OpEx
−$11.4K −$7.11/SF
NOI
$26.6K $16.60/SF
Area
Ellis County, TX
Vacancy
5.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
30.00%
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%
$531,140
Cap Rate 7%
$379,386
Cap Rate 9%
$295,078
Alternative Uses
Best Use
Retail
$379.4K
$332.0K – $442.6K
NOI $26,557 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$17.46M
$15.28M – $20.37M
NOI $1,222,105 @ 7.0% cap · market cap 152.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
217k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 40%
Shops & Services 32%
Dining 23%
Home Improvements & Furnishings 3%
Walmart
Superstores
85,897 visits/mo
0.5 miles
Dollar Tree
Shops & Services
17,065 visits/mo
0.3 miles
Murphy USA
Shops & Services
15,666 visits/mo
0.4 miles
SONIC Drive In
Dining
13,471 visits/mo
0.2 miles
Dollar General
Shops & Services
11,473 visits/mo
0.1 miles
Demographics for 75154, TX
45,894
Population
17,170
Households
2.7
Avg Household Size
36
Median Age
31%
College-Educated
88%
High-School Grad
47.8 sq mi
ZIP Area
960
Density / Sq Mi
$96,150
Median Household Income
$48,112
Median Earnings
$1,446
Median Rent
$296,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Petals Plus Florist & Gifts — 276 East Ovilla Road, Red Oak, TX 75154
Frequently Asked Questions
What type of property is this?
Storefront property - Retail/commercial zoning with central air, ceiling fans, natural gas, and an asphalt exterior.
Where is this storefront property located?
The property is located at 276 Lesliewood Red Oak, TX.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Retail/commercial zoning; Built in 1987; Central air and ceiling fans
