Updated Office
For Sale
$190,000
329 N State Highway 342, Red Oak, TX 75154
Commercially zoned office property with extensive interior improvements and direct road exposure.
Property Size704 SF
Price / SF$269.89
Days on Market62
Property Features for 329 N State Highway 342
General Information
Standard status
Active
Size
704 SF
Zoning
Commercial
Additional Details
Road Access
Yes
Building Details
Year Built
1980
Listing Agency:
Keller Williams Realty
Listed By:
Alexia Hardin, Justin Hardin
Source:
Heritance
Added: Aug 16
Changed: Oct 3
Last Checked: Oct 12 at 9:35PM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
Built in 1980, this office property at 329 N State Highway 342 in Red Oak features a broad set of interior updates. Improvements include new flooring, replacement windows, cabinets, granite countertops, a kitchen sink, interior paint, electrical work, a renovated bathroom, an updated interior HVAC unit, and replacement doors.
The property has 100 feet of road frontage and reported daily traffic exceeding 10,000 vehicles. Nearby institutions and employers include Red Oak High School, Texas State Technical College, Bombardier, Quarbon Aerospace, and Walmart. Planned nearby development includes Google and Compass Data Center facilities.
The property has 100 feet of road frontage and reported daily traffic exceeding 10,000 vehicles. Nearby institutions and employers include Red Oak High School, Texas State Technical College, Bombardier, Quarbon Aerospace, and Walmart. Planned nearby development includes Google and Compass Data Center facilities.
Key Highlights
- 100 feet of road frontage on N State Highway 342
- Reported daily traffic exceeds 10,000 vehicles
- Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,776
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$235,520
$235.5K
Cap Rate 7%
$168,229
$168.2K
Cap Rate 9%
$130,844
$130.8K
Market Conditions
NOI Build-Up for 704 SF
Gross rent
$21.6K $30.72/SF
− Vacancy
−$5.9K −$8.42/SF
EGI
$15.7K $22.30/SF
− OpEx
−$3.9K −$5.58/SF
NOI
$11.8K $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 Rate 5%
$235,520
Cap Rate 7%
$168,229
Cap Rate 9%
$130,844
Alternative Uses
Best Use
Office B
$168.2K
$147.2K – $196.3K
NOI $11,776 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$7.68M
$6.72M – $8.96M
NOI $537,726 @ 7.0% cap · market cap 283.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Explore this area
Business Placement
Demographics for 75154, TX
45,894
Population
17,170
Households
2.7
Avg Household Size
36
Median Age
31%
College-Educated
88%
High-School Grad
47.8 sq mi
ZIP Area
960
Density / Sq Mi
$96,150
Median Household Income
$48,112
Median Earnings
$1,446
Median Rent
$296,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Commercially zoned office property with extensive interior improvements and direct road exposure.
Where is this office building located?
The property is located at 329 N State Highway 342 Red Oak, TX.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: 100 feet of road frontage on N State Highway 342; Reported daily traffic exceeds 10,000 vehicles; Commercial zoning
