Building Details

Year built 2009

Floors in Building 1

Number of units 1

Flooring type Carpet, Laminate

Building materials Brick

Roof type Shingle

Listing Agency: Keller Williams Realty k***@kw.com

Listed By: Chaz Swint Show Phone

Added: Oct 20 Changed: Oct 21 Last Checked: Oct 21 at 6:06PM

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MLS# 21416372

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 1,500-square-foot freestanding office building in Boyd was built in 2009 and sits on a 0.215-acre lot. Its layout includes three private offices, a conference room, a reception area, a break room, and storage. There is a half bathroom for customers and a separate full bathroom with a shower. Brick construction, carpet and laminate flooring, central heating, and central air complete the building’s physical features.

The property is located at 305 W Rock Island Avenue and includes private on-site parking. Public water and sewer serve the site.

Key Highlights

• Approximately 1,500 square feet on a 0.215‑acre lot
• Three private offices, a conference room, reception area, break room, and storage
• Customer half bathroom plus a full bathroom with shower

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,091

Cap Rate

5.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$501,820 $501.8K

Cap Rate 7%

$358,443 $358.4K

Cap Rate 9%

$278,789 $278.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,500 SF

Gross rent

$46.1K $30.72/SF

− Vacancy

−$12.6K −$8.42/SF

EGI

$33.5K $22.30/SF

− OpEx

−$8.4K −$5.58/SF

NOI

$25.1K $16.73/SF

Area

Wise County, TX

Vacancy

27.40%

Lease Rate

$30.72 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$501,820

Cap Rate 7%

$358,443

Cap Rate 9%

$278,789

Alternative Uses

Best Use

Office B

$358.4K

$313.6K – $418.2K (±1% cap)

NOI $25,091 @ 7.0% cap · market cap 5.31%

Second Best

—

—

no second resolved use

Theoretical Best

Hotel Hospitality

$1.13M

$988.6K – $1.32M (±1% cap)

NOI $79,088 @ 7.0% cap · market cap 16.73%

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

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Doug Parr Homes Construction Company Aurora City Hall Government Office

Suggested Use

Top Pick HVAC Service Electrical Service Auto Parts Store Grocery & Convenience Store Pharmacy Garden 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

197

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 Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Three private offices and a conference room provide a defined setting for daily business operations.

Where is this office building located?

The property is located at 305 W Rock Island Avenue Boyd, TX.

What is the asking price?

The asking price for this property is $472,800.

What are key features of this property?

This property features: Approximately 1,500 square feet on a 0.215‑acre lot; Three private offices, a conference room, reception area, break room, and storage; Customer half bathroom plus a full bathroom with shower