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    Office Conversion with Parking Expansion Title is generated by Realmo AI

    3314 Ovilla Road, Ovilla, TX 75154

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    For Sale
    $235,000

    COMMERCIAL - Ovilla, TX

    Lot size:
    0.32 Acres
    Added:
    Mar 14, 2026
    Days on Market:
    82
    Last Refresh:
    Jun 3 at 9:06 pm

    Property Features for 3314 Ovilla Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Paved or Surfaced, Driveway, Garage
    Standard status
    Active
    APN
    187694
    Lot size
    0.32 Acres

    Taxes and HOA fees

    Tax Description
    693 J MCNAMARA 0.319 ACRES
    Tax Annual Amount
    3724

    Utilities

    Sewer type
    Aerobic Septic
    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1940
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Laminate
    Roof type
    Composition

    We can help!

    Listing Contact
    Valerie Hall

    Listing agent Valerie Hall License #0721843

    Listing office Fathom Realty LLC Colleyville, TX

    Listing date Mar 14, 2026

    MLS# 21021484

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Zoned commercial and currently used as a residence
    • Building offers potential layout for at least four office spaces plus waiting area, full kitchen, and full bath
    • Central heat and central air with electric HVAC
    • Laminate flooring throughout
    • Composition roof; year built 1940
    • Aerobic septic system and paved driveway/garage with room to expand parking

    Overview

    This versatile commercial property is currently used as a residence but is zoned commercial, creating a straightforward path for business use. The building is served by central heat and air and is laid out with potential for at least four office spaces, along with a waiting area. Interior improvements include a full kitchen and a full bath, supporting tenant and client-ready daily operations. Additional space also allows room to expand parking as your business needs grow.

    Situated in a high-visibility area, the site benefits from planned road expansion intended to level Ovilla Road to the business frontage, supporting strong exposure over time. The offering is described as being in a high-traffic location, making it suitable for users seeking consistent visibility.

    For tenants, this layout is well-suited to professional services that can operate from multiple offices while maintaining a dedicated waiting area. For buyers and investors, the zoning flexibility, central HVAC, and potential for expanded parking provide practical upside, particularly given the stated pricing position below residential appraised value. If you’re looking for a property that can transition from residential use to a functional office setting, this is a compelling opportunity to evaluate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ovilla
    County
    Ellis
    State
    Texas
    Longitude
    -96.885739
    Latitude
    32.53117

    FAQs

    What type of property is this?
    Office units - Zoned commercial and centrally conditioned, the property offers waiting space, full amenities, and the potential for multiple office suites.
    Where is this office units located?
    The property is located at 3314 Ovilla Road Ovilla, TX.
    What is the asking price?
    The asking price for this property is $235,000.
    What are key features of this property?
    This property features: Zoned commercial and currently used as a residence; Building offers potential layout for at least four office spaces plus waiting area, full kitchen, and full bath; Central heat and central air with electric HVAC
    (888) 455-6040
    We can help!
    Listing Contact
    Valerie Hall
    Real Estate License ID: 0721843
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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