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 5:06PM

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MLS# 21416372

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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

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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