Building Details

Year Built 1979

Tenancy Multi

Listing Agency: RE/MAX Arbors

Listed By: Becky Charles · License #0655338 Show Phone

Source: Minteerteam

Added: Jul 31 Changed: Oct 12 Last Checked: Oct 7 at 4:18PM

Report an Issue

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 RE/MAX Arbors

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This mixed-use property at 3651 Italy Ave in Bardwell combines residential and commercial space within a three-tenant configuration. The living area includes one bedroom and one bathroom. The shop portion is arranged as two separate areas, with one occupied by a cabinet shop and the other by a paint and body shop. Each commercial area has its own restroom.

Tenants are responsible for their individual utilities. Built in 1979, the property is near Lake Bardwell and includes both an established residential component and functional shop space. The combination of living quarters and two commercial areas supports its current mixed-use arrangement.

Key Highlights

• Three current tenants: one residential occupant and two commercial occupants
• One‑bedroom, one‑bath living area
• Shop component divided into two separate areas

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,670

Cap Rate

6.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$293,400 $293.4K

Cap Rate 7%

$209,571 $209.6K

Cap Rate 9%

$163,000 $163.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,830 SF

Gross rent

$23.0K $8.12/SF

− Vacancy

−$2.0K −$0.71/SF

EGI

$21.0K $7.41/SF

− OpEx

−$6.3K −$2.22/SF

NOI

$14.7K $5.18/SF

Area

Ellis County, TX

Vacancy

8.80%

Lease Rate

$8.12 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$293,400

Cap Rate 7%

$209,571

Cap Rate 9%

$163,000

Alternative Uses

Best Use

Retail

$671.0K

$587.2K – $782.9K (±1% cap)

NOI $46,973 @ 7.0% cap · market cap 22.37%

Second Best

Mixed Use

$463.9K

$405.9K – $541.2K (±1% cap)

NOI $32,474 @ 7.0% cap · market cap 15.46%

Theoretical Best

Multifamily LT 5

$30.88M

$27.02M – $36.03M (±1% cap)

NOI $2,161,597 @ 7.0% cap · market cap 1,029.33%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Auto Repair Shop Auto Parts Store Building Supply Storage Facility Butcher Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

38

Businesses Nearby

Explore this area Business Placement

Demographics for 75101, TX

633

Population

280

Households

2.3

Avg Household Size

32

Median Age

10%

College-Educated

71%

High-School Grad

0.8 sq mi

ZIP Area

791

Density / Sq Mi

$56,797

Median Household Income

$36,250

Median Earnings

$1,269

Median Rent

$108,300

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Three current tenants occupy residential living space and two separately configured shop areas.

Where is this mixed-use property located?

The property is located at 3651 Italy Ave Bardwell, TX.

What is the asking price?

The asking price for this property is $210,000.

What are key features of this property?

This property features: Three current tenants: one residential occupant and two commercial occupants; One‑bedroom, one‑bath living area; Shop component divided into two separate areas