Freestanding Storefront
For Sale
$843,000
276 Lesliewood, Red Oak, TX 75154
CommercialSale, Red Oak, TX
Property Size1,600 SF
Lot Size0.29 Acres
Price / SF$526.88
Days on Market41
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
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
(903) 915-9010
Added: Jul 12
Changed: Aug 21
Last Checked: Aug 21 at 4:06PM
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 brick retail building contains approximately 1,600 square feet on a 0.2897-acre site. Built in 1987, the property has concrete flooring, a metal roof, natural gas heating, central air, ceiling fans, public water, and public sewer. The existing salon operation is not included; the offering consists of real estate only. The interior configuration is described as adaptable for retail, office, medical, and personal service applications.
The property fronts Ovilla Road at a signalized intersection in Red Oak, with the corridor identified as FM 664. Source traffic information cites roughly 20,000 to 30,000 vehicles per day, with counts varying by segment and year. The site includes parking and approximately 12,619 square feet of land, while the front grass area is owned by TxDOT as of 2020.
The property fronts Ovilla Road at a signalized intersection in Red Oak, with the corridor identified as FM 664. Source traffic information cites roughly 20,000 to 30,000 vehicles per day, with counts varying by segment and year. The site includes parking and approximately 12,619 square feet of land, while the front grass area is owned by TxDOT as of 2020.
Key Highlights
- Approximately 1,600‑square‑foot freestanding retail building
- Ovilla Road frontage at a signalized intersection
- FM 664 corridor cited at roughly 20,000 to 30,000 vehicles per day
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
3.15%
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 3.15%
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 144.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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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 - Brick commercial building with public utilities, central air, and flexible retail, office, medical, or personal service configuration.
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: Approximately 1,600‑square‑foot freestanding retail building; Ovilla Road frontage at a signalized intersection; FM 664 corridor cited at roughly 20,000 to 30,000 vehicles per day
