Versatile Building in Prime
For Sale
$2,500,000
Pending
325 S Cowan Ave, Lewisville, TX 75057
12,000 SF building suitable for various uses in Lewisville.
Property Size11,965 SF
Lot Size1.13 Acres
Days on Market255
Property Features for 325 S Cowan Ave
General Information
Standard status
Pending
Size
11,965 SF
Lot size
1.13 Acres
Property subtype
Commercial
Building Details
Building Size
11,965 SF
Year Built
1990
Stories
1
Units
1
Listing Agency:
Ebby Halliday Realtors
(972) 948-6562
Listed By:
Courtney Moeller · License #755436
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:32AM
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 Ebby Halliday Realtors
Investment Insights
Based on property information with market context.
This expansive 12,000 SF building, situated on 1.2 acres in Lewisville, offers a flexible layout suitable for a variety of uses. These include Single-Family Residential, Multi-Family Residential, Educational, Religious, Retail, Commercial, and Office uses. The property features high ceilings, open spaces, multiple offices, classrooms, and ample on-site parking. Its prime location ensures excellent visibility and accessibility. With existing infrastructure that supports multiple configurations, this property presents a unique opportunity for investors, developers, and business owners looking to customize a space to fit their needs. The property is one block from Medical City, and medical office buildings are populating this area. Additionally, the property is one block from the historic Lewisville downtown where multifamily development has been thriving.
Key Highlights
- Flexible 12,000 SF building suitable for diverse uses.
- Prime location in Lewisville with excellent visibility and accessibility.
- Situated on 1.2 acres with ample on‑site parking.
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
$221,508
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
8.86%
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%
$4,430,160
$4.4M
Cap Rate 7%
$3,164,400
$3.2M
Cap Rate 9%
$2,461,200
$2.5M
Market Conditions
NOI Build-Up for 11,965 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
$394.8K $33.00/SF
− Vacancy
−$99.5K −$8.32/SF
EGI
$295.3K $24.68/SF
− OpEx
−$73.8K −$6.17/SF
NOI
$221.5K $18.51/SF
Area
Lewisville, TX
Vacancy
25.20%
Lease Rate
$33.00 /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%
$4,430,160
Cap Rate 7%
$3,164,400
Cap Rate 9%
$2,461,200
Alternative Uses
Best Use
Office B
$3.16M
$2.77M – $3.69M
NOI $221,508 @ 7.0% cap · market cap 8.86%
Second Best
Retail
$2.75M
$2.40M – $3.21M
NOI $192,320 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$3.99M
$3.49M – $4.65M
NOI $279,234 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,746
Businesses Nearby
Explore this area
Business Placement
Demographics for 75057, TX
16,001
Population
7,171
Households
2.2
Avg Household Size
31
Median Age
29%
College-Educated
83%
High-School Grad
13.3 sq mi
ZIP Area
1,203
Density / Sq Mi
$76,128
Median Household Income
$43,253
Median Earnings
$1,589
Median Rent
$208,500
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 - 12,000 SF building suitable for various uses in Lewisville.
Where is this office building located?
The property is located at 325 S Cowan Ave Lewisville, TX.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Flexible 12,000 SF building suitable for diverse uses.; Prime location in Lewisville with excellent visibility and accessibility.; Situated on 1.2 acres with ample on‑site parking.
