Industrial Land with
For Sale
$525,000
2910 E Highway 114, Boyd, TX 76023
Improved commercial site with workshop, utilities, and heavy-equipment storage capacity.
Property Size2,180 SF
Price / SF$206.69
Days on Market132
Property Features for 2910 E Highway 114
General Information
Standard status
Active
Size
2,180 SF
Property subtype
Commercial
Zoning
Commercial
Building Details
Building Size
2,180 SF
Year Built
1957
Stories
1
Units
2
Listing Agency:
1st Choice Realty
(469) 360-4564
Listed By:
Anthony Butcher · License #0573613
Source:
Signaturere
Added: Apr 22
Changed: Aug 30
Last Checked: Aug 30 at 2:21PM
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 1st Choice Realty
Investment Insights
Based on property information with market context.
This 2.5-acre commercial property combines an industrial yard with several existing improvements. The site includes a 50-by-40-foot metal workshop with 14-foot roll-up doors, a mobile office with a restroom, and a covered area for equipment or vehicle storage. A well-lit rock yard of approximately 90,000+ square feet accommodates heavy machinery and tractor-trailer operations. Water service, a water well, septic system, and electricity are in place.
The property fronts Highway 114 with 200+ feet of road frontage and reported daily traffic approaching 10,000 vehicles. It is zoned Commercial and located outside city limits. The existing configuration supports oil and gas service, construction and trade, automotive or mechanical, and light industrial operations, as well as future development.
The property fronts Highway 114 with 200+ feet of road frontage and reported daily traffic approaching 10,000 vehicles. It is zoned Commercial and located outside city limits. The existing configuration supports oil and gas service, construction and trade, automotive or mechanical, and light industrial operations, as well as future development.
Key Highlights
- 2.5‑acre commercial property on Highway 114
- 200+ feet of road frontage with daily traffic approaching 10,000 vehicles
- 50‑by‑40‑foot metal workshop with 14‑foot roll‑up doors
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
$16,404
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
3.12%
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%
$328,080
$328.1K
Cap Rate 7%
$234,343
$234.3K
Cap Rate 9%
$182,267
$182.3K
Market Conditions
NOI Build-Up for 2,540 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
$20.4K $8.04/SF
− Vacancy
−$1.1K −$0.44/SF
EGI
$19.3K $7.60/SF
− OpEx
−$2.9K −$1.14/SF
NOI
$16.4K $6.46/SF
Area
Wise County, TX
Vacancy
5.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
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%
$328,080
Cap Rate 7%
$234,343
Cap Rate 9%
$182,267
Alternative Uses
Best Use
Warehouse
$234.3K
$205.1K – $273.4K
NOI $16,404 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$1.91M
$1.67M – $2.23M
NOI $133,922 @ 7.0% cap · market cap 25.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 76023, TX
6,825
Population
2,614
Households
2.6
Avg Household Size
43
Median Age
19%
College-Educated
90%
High-School Grad
53.8 sq mi
ZIP Area
127
Density / Sq Mi
$80,927
Median Household Income
$40,736
Median Earnings
$1,091
Median Rent
$281,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial land - Improved commercial site with workshop, utilities, and heavy-equipment storage capacity.
Where is this industrial land located?
The property is located at 2910 E Highway 114 Boyd, TX.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2.5‑acre commercial property on Highway 114; 200+ feet of road frontage with daily traffic approaching 10,000 vehicles; 50‑by‑40‑foot metal workshop with 14‑foot roll‑up doors
