Freestanding Retail
For Sale
Under Contract
$799,900
276 Lesliewood, Red Oak, TX 75154
CommercialSale, Red Oak, TX
Property Size1,600 SF
Lot Size0.29 Acres
Price / SF$499.94
Days on Market88
Property Features for 276 Lesliewood
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Currently Retail/ Commercial
Subdivision
J Spoon
Lot features
Corner Lot
Directions
See Maps
Standard status
Active Under Contract
APN
194042
Lot size
0.29 Acres
Taxes and HOA fees
Tax Description
1014 J SPOON 0.2897 ACRES
Tax Annual Amount
9139
Legal Description
1014 J SPOON 0.2897 ACRES
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1987
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Brick
Roof type
Metal
Listing Agency:
Inderman + Leija
(903) 915-9010
Listed By:
Chelsie Andrews · License #0817538
(214) 235-1748
Added: Jul 12
Changed: Sep 24
Last Checked: Oct 7 at 3:06AM
MLS# 21269109
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 freestanding retail property is positioned on Ovilla Road at a signalized intersection in Red Oak. The building has brick construction, concrete flooring, a metal roof, natural gas heating, central air conditioning, and ceiling fans. Public water and sewer serve the site, while parking and prominent signage potential support customer-oriented operations. The property is currently configured for salon use, with the existing business excluded from the sale.
Ovilla Road is identified as FM 664 in the surrounding corridor, where traffic commonly ranges from roughly 20,000 to 30,000 vehicles per day according to the cited TxDOT data. The site is near established residential areas, schools, and expanding commercial development. The front grass area is owned by TxDOT as of 2020.
Ovilla Road is identified as FM 664 in the surrounding corridor, where traffic commonly ranges from roughly 20,000 to 30,000 vehicles per day according to the cited TxDOT data. The site is near established residential areas, schools, and expanding commercial development. The front grass area is owned by TxDOT as of 2020.
Key Highlights
- Located on Ovilla Road at a signalized intersection
- FM 664 traffic commonly ranges from roughly 20,000 to 30,000 vehicles per day
- Brick building with concrete flooring and a metal roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,557
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
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
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 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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Current Use
Lease Details
30,000 VPD
Traffic count
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 - Freestanding commercial building with parking, signage potential, and access at a signalized intersection.
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: Located on Ovilla Road at a signalized intersection; FM 664 traffic commonly ranges from roughly 20,000 to 30,000 vehicles per day; Brick building with concrete flooring and a metal roof
