Building Details

Building Size 2,400 SF

Year Built 1965

Buildings 1

Stories 1

Units 1

Listing Agency: AT Home Texas Real Estate Show Phone

Listed By: Kathleen Hunnicutt · License #0604197 Show Phone

Source: Cogburnrealestate

Added: Oct 21 Changed: Oct 23 Last Checked: Oct 23 at 3:39PM

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Investment Insights

Based on property information with market context.

This 2,400-square-foot flex property, built in 1965, contains two equal areas: 1,200 square feet of climate-controlled space and 1,200 square feet for flexible or storage use. The property is zoned Commercial.

At 2815 Kari Lane in Greenville, the building is directly across from an established shopping destination. Its two-part layout brings customer-facing space and storage or operational space together in one commercial property.

Key Highlights

• 2,400‑square‑foot flex property
• 1,200 square feet of climate‑controlled space
• Separate 1,200‑square‑foot area for flexible or storage use

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,617

Cap Rate

8.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$772,340 $772.3K

Cap Rate 7%

$551,671 $551.7K

Cap Rate 9%

$429,078 $429.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,400 SF

Gross rent

$57.9K $24.12/SF

− Vacancy

−$2.7K −$1.13/SF

EGI

$55.2K $22.99/SF

− OpEx

−$16.6K −$6.90/SF

NOI

$38.6K $16.09/SF

Area

Hunt County, TX

Vacancy

4.70%

Lease Rate

$24.12 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$772,340

Cap Rate 7%

$551,671

Cap Rate 9%

$429,078

Alternative Uses

Best Use

Industrial

$2.38M

$2.09M – $2.78M (±1% cap)

NOI $166,935 @ 7.0% cap · market cap 35.14%

Second Best

Retail

$551.7K

$482.7K – $643.6K (±1% cap)

NOI $38,617 @ 7.0% cap · market cap 8.13%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Patterson Barber & Beauty ... (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Law Firm HVAC Service Storage Facility Carpet & Flooring Store Cafe & Coffee Shop Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

539

Businesses Nearby

Under-served

Demand for This Use

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 Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Commercial zoning and a divided interior support customer-facing operations alongside storage or work space.

Where is this flex space located?

The property is located at 2815 Kari Lane Greenville, TX.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: 2,400‑square‑foot flex property; 1,200 square feet of climate‑controlled space; Separate 1,200‑square‑foot area for flexible or storage use