Harvest Hill Town Center II Shopping
For Sale
Contact for pricing
320 Harvest Hill Dr, Midlothian, TX
The 2022-built property offers a substantial retail footprint for commercial occupancy.
Property Size14,895 SF
Price / SF$574.02
Days on Market132
Property Features for 320 Harvest Hill Dr
General Information
Standard status
Active
Size
14,895 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$525,730
Building Details
Year Built
2022
Tenancy
Multi
Listing Agency:
Summit Real Estate
(469) 844-8884
Listed By:
Hudson Lambert · License #TX 724882
Source:
Crexi
Added: Apr 21
Changed: Aug 29
Last Checked: Aug 29 at 4:40PM
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 Summit Real Estate
Investment Insights
Based on property information with market context.
Harvest Hill Town Center II is a shopping center completed in 2022, with 14,895 square feet of retail space. The property is positioned as a commercial retail asset suitable for evaluating current or future occupancy configurations.
The offering includes a 6.15% CAP, providing a key financial metric for review alongside the building’s size, asset type, and recent construction date.
The offering includes a 6.15% CAP, providing a key financial metric for review alongside the building’s size, asset type, and recent construction date.
Key Highlights
- 14,895 square feet of retail space
- Shopping center asset completed in 2022
- 6.15% CAP
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
$247,233
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
2.89%
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%
$4,944,660
$4.9M
Cap Rate 7%
$3,531,900
$3.5M
Cap Rate 9%
$2,747,033
$2.7M
Market Conditions
NOI Build-Up for 14,895 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
$371.8K $24.96/SF
− Vacancy
−$18.6K −$1.25/SF
EGI
$353.2K $23.71/SF
− OpEx
−$106.0K −$7.11/SF
NOI
$247.2K $16.60/SF
Area
Ellis County, TX
Vacancy
5.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
30.00%
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%
$4,944,660
Cap Rate 7%
$3,531,900
Cap Rate 9%
$2,747,033
Alternative Uses
Best Use
Retail
$3.53M
$3.09M – $4.12M
NOI $247,233 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$162.53M
$142.21M – $189.62M
NOI $11,377,030 @ 7.0% cap · market cap 133.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
25k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 32%
SONIC Drive In
Dining
14,440 visits/mo
0.5 miles
Dollar General
Shops & Services
6,236 visits/mo
0.5 miles
Twisted Root Burger Co.
Dining
2,303 visits/mo
0.1 miles
Conoco
Shops & Services
1,780 visits/mo
0.1 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Shopping center - The 2022-built property offers a substantial retail footprint for commercial occupancy.
Where is this shopping center located?
The property is located at 320 Harvest Hill Dr Midlothian, TX.
What is the asking price?
The asking price for this property is $8,550,000.
What are key features of this property?
This property features: 14,895 square feet of retail space; Shopping center asset completed in 2022; 6.15% CAP
