Professional Office
New
For Sale
$325,000
306 W 6th St, Waxahachie, TX 75165
Three offices, reception, kitchen, break room, bathroom, and dedicated storage support a compact professional layout.
Property Size984 SF
Price / SF$330.28
Days on Market4
Property Features for 306 W 6th St
General Information
Standard status
Active
Size
984 SF
Additional Details
Asking Price
$325,000
Highway Access
Yes
Building Details
Year Built
1950
Buildings
1
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Batte Realty, Llc
(214) 497-5091
Listed By:
Dan Batte · License #0261343
Source:
Brickstreetrealtygroup
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 21 at 9:30AM
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 Batte Realty, Llc
Investment Insights
Based on property information with market context.
This professional office property at 306 W 6th St includes three separate offices, a reception area, kitchen and break room, bathroom, large storage room, and an additional storage closet. The building dates to 1950 and is currently occupied by several attorneys, including the owner. On-site parking accommodates about 6-7 vehicles.
The property is just north of downtown Waxahachie and one block from Ferris Ave. Downtown is approximately five minutes away, while I-35E is less than 10 minutes from the building. Other potential applications identified for the space include counseling, CPA, legal, real estate, medical, clinic, and art studio uses, subject to city verification. Zoning, permitted uses, building and occupancy codes, utilities, and other applicable requirements must be independently confirmed.
The property is just north of downtown Waxahachie and one block from Ferris Ave. Downtown is approximately five minutes away, while I-35E is less than 10 minutes from the building. Other potential applications identified for the space include counseling, CPA, legal, real estate, medical, clinic, and art studio uses, subject to city verification. Zoning, permitted uses, building and occupancy codes, utilities, and other applicable requirements must be independently confirmed.
Key Highlights
- Three individual offices with a spacious reception area
- Kitchen, break room, bathroom, large storage room, and storage closet
- Currently occupied by several attorneys, including the owner
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
$16,459
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
5.06%
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%
$329,180
$329.2K
Cap Rate 7%
$235,129
$235.1K
Cap Rate 9%
$182,878
$182.9K
Market Conditions
NOI Build-Up for 984 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
$30.2K $30.72/SF
− Vacancy
−$8.3K −$8.42/SF
EGI
$21.9K $22.30/SF
− OpEx
−$5.5K −$5.58/SF
NOI
$16.5K $16.73/SF
Area
Ellis 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 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%
$329,180
Cap Rate 7%
$235,129
Cap Rate 9%
$182,878
Alternative Uses
Best Use
Office B
$235.1K
$205.7K – $274.3K
NOI $16,459 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$10.74M
$9.39M – $12.53M
NOI $751,594 @ 7.0% cap · market cap 231.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
704
Businesses Nearby
Explore this area
Business Placement
Demographics for 75165, TX
49,805
Population
18,940
Households
2.6
Avg Household Size
36
Median Age
28%
College-Educated
90%
High-School Grad
118.0 sq mi
ZIP Area
422
Density / Sq Mi
$84,780
Median Household Income
$45,677
Median Earnings
$1,473
Median Rent
$308,100
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 - Three offices, reception, kitchen, break room, bathroom, and dedicated storage support a compact professional layout.
Where is this office building located?
The property is located at 306 W 6th St Waxahachie, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Three individual offices with a spacious reception area; Kitchen, break room, bathroom, large storage room, and storage closet; Currently occupied by several attorneys, including the owner
