Storefront
For Sale
$843,000
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 Market87
Property Features for 276 Lesliewood
General Information
Standard status
Active
Size
1,600 SF
Zoning
Currently Retail/ Commercial
Taxes and HOA fees
Annual Taxes
$9,139
Amenities
Ceiling Fan(s), Central Air
Natural Gas
Asphalt
Building Details
Building Size
1,600 SF
Year Built
1987
Stories
1
Listing Agency:
Inderman + Leija
(214) 235-1748
Listed By:
Chelsie Andrews · License #0817538
(214) 235-1748
Source:
Evrealestate
Added: May 18
Changed: Aug 11
Last Checked: Aug 11 at 6:57AM
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
$26,763
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
3.17%
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%
$535,260
$535.3K
Cap Rate 7%
$382,329
$382.3K
Cap Rate 9%
$297,367
$297.4K
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
$49.2K $30.72/SF
− Vacancy
−$13.5K −$8.42/SF
EGI
$35.7K $22.30/SF
− OpEx
−$8.9K −$5.58/SF
NOI
$26.8K $16.73/SF
Area
Ellis County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
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%
$535,260
Cap Rate 7%
$382,329
Cap Rate 9%
$297,367
Alternative Uses
Best Use
Office B
$382.3K
$334.5K – $446.1K
NOI $26,763 @ 7.0% cap · market cap 3.17%
Second Best
Retail
$379.4K
$332.0K – $442.6K
NOI $26,557 @ 7.0% cap · market cap 3.15%
Theoretical Best
Multifamily LT 5
$17.46M
$15.28M – $20.37M
NOI $1,222,105 @ 7.0% cap · market cap 144.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 $843,000.
What are key features of this property?
This property features: Retail/commercial zoning; Built in 1987; Central air and ceiling fans
