Contiguous Office Units with Private
New
For Sale
$575,000
2840 Keller Springs Road, Carrollton, TX 75006
CommercialSale, Carrollton, TX
Property Size2,340 SF
Lot Size4.18 Acres
Price / SF$245.73
Days on Market3
Property Features for 2840 Keller Springs Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Office, medical
Parking features
Parking Lot
Subdivision
Keller Spgs Office Park
Directions
See GPS
Standard status
Active
APN
14050000110110200
Lot size
4.18 Acres
Taxes and HOA fees
Tax Description
KELLER SPRINGS OFFICE PARK CONDOS LT 2R ACS 4
Tax Annual Amount
6319
Legal Description
KELLER SPRINGS OFFICE PARK CONDOS LT 2R ACS 4
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2004
Floors in Building
1
Number of units
2
Flooring type
Carpet
Building materials
AluminumSiding, Brick
Roof type
Composition
Listing Agency:
VIP Realty
(214) 295-4888
Listed By:
Natalie Soto · License #0664296
(214) 295-4888
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 1:06PM
MLS# 21365526
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 commercial condominium combines Units 1102 and 1103 into one contiguous 2,340-square-foot office suite. The layout includes over 8 private offices, multiple work areas, and a dedicated breakroom, providing a practical configuration for professional, medical, dental, spa, wellness, legal, financial, or consulting operations. Fresh paint, carpeting throughout, and abundant natural light contribute to the interior presentation.
Built in 2004, the property has central air, electric heating, public water, public sewer, and parking lot access. The condominium is located at 2840 Keller Springs Road in Carrollton, surrounded by shops, dining, and everyday amenities. Its position in a high-traffic, highly visible area adds convenient exposure for occupants and visiting clients.
Built in 2004, the property has central air, electric heating, public water, public sewer, and parking lot access. The condominium is located at 2840 Keller Springs Road in Carrollton, surrounded by shops, dining, and everyday amenities. Its position in a high-traffic, highly visible area adds convenient exposure for occupants and visiting clients.
Key Highlights
- 2,340 SF commercial condominium combining Units 1102 and 1103
- Over 8 private offices plus multiple work areas
- Dedicated breakroom and carpeting throughout
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
$33,359
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
5.80%
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%
$667,180
$667.2K
Cap Rate 7%
$476,557
$476.6K
Cap Rate 9%
$370,656
$370.7K
Market Conditions
NOI Build-Up for 2,340 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
$63.2K $27.00/SF
− Vacancy
−$7.6K −$3.24/SF
EGI
$55.6K $23.76/SF
− OpEx
−$22.2K −$9.50/SF
NOI
$33.4K $14.26/SF
Area
Carrollton, TX
Vacancy
12.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$667,180
Cap Rate 7%
$476,557
Cap Rate 9%
$370,656
Alternative Uses
Best Use
Healthcare Medical
$476.6K
$417.0K – $556.0K
NOI $33,359 @ 7.0% cap · market cap 5.80%
Second Best
Office B
$414.1K
$362.3K – $483.1K
NOI $28,985 @ 7.0% cap · market cap 5.04%
Theoretical Best
Specialty Retail
$575.7K
$503.7K – $671.7K
NOI $40,299 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
Explore this area
Business Placement
Demographics for 75006, TX
47,811
Population
19,549
Households
2.4
Avg Household Size
37
Median Age
33%
College-Educated
83%
High-School Grad
17.1 sq mi
ZIP Area
2,796
Density / Sq Mi
$79,466
Median Household Income
$43,403
Median Earnings
$1,528
Median Rent
$296,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercial condominium combining two contiguous units with a flexible professional-office layout, natural light, carpeting, and a dedicated breakroom.
Where is this office units located?
The property is located at 2840 Keller Springs Road Carrollton, TX.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,340 SF commercial condominium combining Units 1102 and 1103; Over 8 private offices plus multiple work areas; Dedicated breakroom and carpeting throughout
