Office Building with Rear
New
For Sale
$615,000
302 N Jackson Avenue, Wylie, TX 75098
Primary building and separate cottage in Wylie’s downtown historical district with residential and commercial zoning.
Property Size2,235 SF
Days on Market2
Property Features for 302 N Jackson Avenue
General Information
Standard status
Active
Size
2,235 SF
Property subtype
Commercial
Zoning
Residential and Commercial
Building Details
Building Size
2,235 SF
Year Built
1974
Units
2
Listing Agency:
PTG Properties
(972) 849-9781
Listed By:
Linda Latham
(972) 849-9781
Source:
Vickiesteam
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 5:38AM
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 PTG Properties
Investment Insights
Based on property information with market context.
This office property includes a primary building of approximately 2,235 square feet along with a separate rear cottage measuring approximately 500 square feet. The improvements provide two distinct structures within a single property, offering a combination of main-building and ancillary space. The property was built in 1974.
Located in Wylie’s downtown historical district, the site carries residential and commercial zoning. The address is 302 N Jackson Avenue, Wylie, TX 75098.
Located in Wylie’s downtown historical district, the site carries residential and commercial zoning. The address is 302 N Jackson Avenue, Wylie, TX 75098.
Key Highlights
- Approximately 2,235‑square‑foot primary building
- Separate rear cottage of approximately 500 square feet
- Located in Wylie’s downtown historical district
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
$28,344
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
4.61%
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%
$566,880
$566.9K
Cap Rate 7%
$404,914
$404.9K
Cap Rate 9%
$314,933
$314.9K
Market Conditions
NOI Build-Up for 2,235 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
$49.1K $21.96/SF
− Vacancy
−$11.3K −$5.05/SF
EGI
$37.8K $16.91/SF
− OpEx
−$9.4K −$4.23/SF
NOI
$28.3K $12.68/SF
Area
Collin County, TX
Vacancy
23.00%
Lease Rate
$21.96 /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%
$566,880
Cap Rate 7%
$404,914
Cap Rate 9%
$314,933
Alternative Uses
Best Use
Office B
$404.9K
$354.3K – $472.4K
NOI $28,344 @ 7.0% cap · market cap 4.61%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$2.22M
$1.94M – $2.59M
NOI $155,458 @ 7.0% cap · market cap 25.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
738
Businesses Nearby
Explore this area
Business Placement
Demographics for 75098, TX
67,212
Population
22,080
Households
3
Avg Household Size
35
Median Age
41%
College-Educated
91%
High-School Grad
32.0 sq mi
ZIP Area
2,100
Density / Sq Mi
$115,587
Median Household Income
$53,163
Median Earnings
$1,979
Median Rent
$362,900
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 building - Primary building and separate cottage in Wylie’s downtown historical district with residential and commercial zoning.
Where is this office building located?
The property is located at 302 N Jackson Avenue Wylie, TX.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Approximately 2,235‑square‑foot primary building; Separate rear cottage of approximately 500 square feet; Located in Wylie’s downtown historical district
