Office Condos at Keller
For Sale
$800,000
2840 Keller Springs Road #201-202, Carrollton, TX 75006
Two adjoined office condos suitable for professional or medical use.
Property Size2,340 SF
Price / SF$341.88
Days on Market113
Property Features for 2840 Keller Springs Road #201-202
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Commercial
Zoning
General Office, Medical
Building Details
Building Size
2,340 SF
Year Built
2001
Stories
1
Units
2
Listing Agency:
Goodloe Realty Services, Inc
(214) 413-2250
Listed By:
Tom Sowell · License #0318104
(972) 742-4476
Source:
Signaturere
Added: Apr 22
Changed: Aug 8
Last Checked: Aug 8 at 3:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Goodloe Realty Services, Inc
Investment Insights
Based on property information with market context.
These office condos are located in the Keller Springs Office Park. Situated at the entry and facing the large parking lot, the property consists of two adjoined units. Currently owner-occupied and used as professional offices, the space is suitable for medical use or spa services. The layout includes an elegant entry, a conference room, an admin office, six offices, a breakroom, and two file rooms. There are also large floored attics. The property has a total size of 2340 square feet.
Key Highlights
- Prime location at the entry of Keller Springs Office Park, facing the large parking lot.
- Suitable for professional offices, medical use, or spa services.
- Two adjoined units offering ample space.
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
$28,985
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
3.62%
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%
$579,700
$579.7K
Cap Rate 7%
$414,071
$414.1K
Cap Rate 9%
$322,056
$322.1K
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
$51.7K $22.08/SF
− Vacancy
−$13.0K −$5.56/SF
EGI
$38.6K $16.52/SF
− OpEx
−$9.7K −$4.13/SF
NOI
$29.0K $12.39/SF
Area
Carrollton, TX
Vacancy
25.20%
Lease Rate
$22.08 /SF/Yr
Expense Ratio
25.00%
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%
$579,700
Cap Rate 7%
$414,071
Cap Rate 9%
$322,056
Alternative Uses
Best Use
Office B
$414.1K
$362.3K – $483.1K
NOI $28,985 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$575.7K
$503.7K – $671.7K
NOI $40,299 @ 7.0% cap · market cap 5.04%
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 - Two adjoined office condos suitable for professional or medical use.
Where is this office units located?
The property is located at 2840 Keller Springs Road #201-202 Carrollton, TX.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Prime location at the entry of Keller Springs Office Park, facing the large parking lot.; Suitable for professional offices, medical use, or spa services.; Two adjoined units offering ample space.
