Multi-Tenant Flex
For Sale
$900,000
3901 S Highway 287, Waxahachie, TX 75165
Office, warehouse, and yard components create a versatile commercial property outside city limits.
Property Size4,950 SF
Price / SF$181.82
Days on Market72
Property Features for 3901 S Highway 287
General Information
Standard status
Active
Size
4,950 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Building Details
Year Built
2004
Tenancy
Multi
Listing Agency:
Joe Rust Company
Listed By:
Lance Rust · License #0511897
(972) 333-4143
Source:
Thefryerealtyteam
Added: Aug 6
Changed: Oct 15
Last Checked: Oct 7 at 4:36PM
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 Joe Rust Company
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Investment Insights
Based on property information with market context.
Built in 2004, this 4,950-square-foot flex property combines office areas, warehouse space, and an outdoor yard. The configuration accommodates a mix of commercial functions within one property and includes frontage along Hwy. 287.
The property is positioned between Waxahachie and Ennis and sits outside the city limits. Four tenants currently occupy the space under month-to-month leases, providing an existing multi-tenant configuration with flexible lease terms. The property information also identifies no known restrictions.
The property is positioned between Waxahachie and Ennis and sits outside the city limits. Four tenants currently occupy the space under month-to-month leases, providing an existing multi-tenant configuration with flexible lease terms. The property information also identifies no known restrictions.
Key Highlights
- 4,950‑square‑foot flex property built in 2004
- Combination of office, warehouse, and yard space
- Frontage on Hwy. 287 between Waxahachie and Ennis
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,799
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,655,980
$1.7M
Cap Rate 7%
$1,182,843
$1.2M
Cap Rate 9%
$919,989
$920.0K
Market Conditions
NOI Build-Up for 4,950 SF
Gross rent
$152.1K $30.72/SF
− Vacancy
−$41.7K −$8.42/SF
EGI
$110.4K $22.30/SF
− OpEx
−$27.6K −$5.58/SF
NOI
$82.8K $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%
$1,655,980
Cap Rate 7%
$1,182,843
Cap Rate 9%
$919,989
Alternative Uses
Best Use
Office B
$1.18M
$1.03M – $1.38M
NOI $82,799 @ 7.0% cap · market cap 9.20%
Second Best
Warehouse
$491.7K
$430.3K – $573.7K
NOI $34,422 @ 7.0% cap · market cap 3.82%
Theoretical Best
Multifamily LT 5
$54.01M
$47.26M – $63.01M
NOI $3,780,886 @ 7.0% cap · market cap 420.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75165, TX
49,805
Population
18,940
Households
2.6
Avg Household Size
36
Median Age
28%
College-Educated
90%
High-School Grad
118.0 sq mi
ZIP Area
422
Density / Sq Mi
$84,780
Median Household Income
$45,677
Median Earnings
$1,473
Median Rent
$308,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Bluebonnet BBQ — 3921 US-287, Waxahachie, TX 75165
Frequently Asked Questions
What type of property is this?
Flex space - Office, warehouse, and yard components create a versatile commercial property outside city limits.
Where is this flex space located?
The property is located at 3901 S Highway 287 Waxahachie, TX.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 4,950‑square‑foot flex property built in 2004; Combination of office, warehouse, and yard space; Frontage on Hwy. 287 between Waxahachie and Ennis
