Freestanding NNN Commercial
New
For Sale
$599,000
2814 Terrell Road, Greenville, TX 75402
SINGLE_FAMILY - Greenville, TX
Property Size2,737 SF
Lot Size0.44 Acres
Price / SF$218.85
Days on Market4
Property Features for 2814 Terrell Road
General Information
Property type
Residential
Property subtype
Office
Zoning description
Commercial
Subdivision
Greenville
Directions
Please use GPS
Standard status
Active
APN
45031
Lot size
0.44 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Number of units
1
Flooring type
Concrete, Tile, Vinyl
Building materials
Brick
Roof type
Metal
Listing Agency:
KARE Investment Sales & Leasing
(469) 471-6413
Listed By:
Karan Aulakh , CCIM
(469) 471-6413
Added: Jul 29
Changed: Aug 1
Last Checked: Aug 1 at 11:06AM
MLS# 21343766
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.
State Farm sale-leaseback investment opportunity featuring a +/-2,737 SF freestanding commercial building on +/-0.437 acres at 2814 Terrell Road in Greenville, Texas. The property is commercially zoned and offers on-site parking on a high-visibility commercial corridor.
The seller will execute a new five-year NN lease at closing with 2% annual rent escalations. The lease also includes two 5-year renewal options, designed to support stable, long-term income. The going-in cap rate is 6.85%.
Built in 1985, the building features brick construction and a metal roof. Interior finishes include tile, vinyl, and concrete. Heating and cooling are provided via central and electric systems. Utilities include public water and public sewer.
The seller will execute a new five-year NN lease at closing with 2% annual rent escalations. The lease also includes two 5-year renewal options, designed to support stable, long-term income. The going-in cap rate is 6.85%.
Built in 1985, the building features brick construction and a metal roof. Interior finishes include tile, vinyl, and concrete. Heating and cooling are provided via central and electric systems. Utilities include public water and public sewer.
Key Highlights
- +/-2,737 SF freestanding commercial building in a sale‑leaseback with State Farm
- +/-0.437‑acre lot with on‑site parking on a high‑visibility commercial corridor
- Brick construction with a metal roof; built in 1985
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.1k | $21.96 |
| − Vacancy | −$13.8k | −$5.05 |
| EGI | $46.3k | $16.91 |
| − OpEx | −$11.6k | −$4.23 |
| NOI | $34.7k | $12.68 |
2,737 SF · lease $21.96/SF/yr · vacancy 23.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$495.9K
$433.9K – $578.5K
NOI $34,710 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$2.72M
$2.38M – $3.17M
NOI $190,376 @ 7.0% cap · market cap 31.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
555
Businesses Nearby
Explore this area
Business Placement
Demographics for 75402, TX
18,983
Population
8,024
Households
2.4
Avg Household Size
41
Median Age
32%
College-Educated
93%
High-School Grad
90.8 sq mi
ZIP Area
209
Density / Sq Mi
$77,602
Median Household Income
$46,076
Median Earnings
$1,414
Median Rent
$252,500
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.
Frequently Asked Questions
What type of property is this?
NNN property - Freestanding brick building with on-site parking, commercially zoned, and a new five-year NN lease with renewal options.
Where is this nnn property located?
The property is located at 2814 Terrell Road Greenville, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: +/-2,737 SF freestanding commercial building in a sale‑leaseback with State Farm; +/-0.437‑acre lot with on‑site parking on a high‑visibility commercial corridor; Brick construction with a metal roof; built in 1985
