New Office Condo Suites with
For Sale
$425,000
404-2200 Traders Rd, Greenville, TX 75402
New office condo units with covered entry, reception, multiple offices, break area, restrooms, and parking for professionals.
Property Size1,250 SF
Price / SF$340
Days on Market336
Property Features for 404-2200 Traders Rd
General Information
Standard status
Active
Size
1,250 SF
Total Parking Spaces
5
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
20
Listing Agency:
Mckinney Real Estate Services
(469) 688-8664
Listed By:
Toni Spray · License #0492686
(469) 688-8664
Source:
Exprealty
Added: Sep 20, 2025
Changed: Aug 20
Last Checked: Aug 20 at 1:09PM
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 Mckinney Real Estate Services
Investment Insights
Based on property information with market context.
Newly built office condo suites are being constructed for professional use, with each unit featuring a reception area, multiple offices, a break area, and restrooms. Units include a covered front entry and are planned with approximately 1,250 square feet under roof. Each condo will include five parking spaces per unit.
The development is located in Greenville, about 0.5 miles from I-30, with easy access to TH Hwy 34, Roy Warren Parkway, FM 1570, and other area connections. The project includes 20 units, with 18 remaining available for selection. Construction is underway, with slabs poured from Sept. 19 through Sept. 30, and units scheduled to be available by January 2026.
For tenants or buyers looking for a professionally designed, private office setting, these office condos offer a straightforward layout built around reception, multiple workspaces, and employee comfort areas. Ongoing association fees are listed at $300 per month, and a $3,600 capital assessment is due at closing. A whole-building option is also available, with the entire 4,996-square-foot building offered for purchase.
The development is located in Greenville, about 0.5 miles from I-30, with easy access to TH Hwy 34, Roy Warren Parkway, FM 1570, and other area connections. The project includes 20 units, with 18 remaining available for selection. Construction is underway, with slabs poured from Sept. 19 through Sept. 30, and units scheduled to be available by January 2026.
For tenants or buyers looking for a professionally designed, private office setting, these office condos offer a straightforward layout built around reception, multiple workspaces, and employee comfort areas. Ongoing association fees are listed at $300 per month, and a $3,600 capital assessment is due at closing. A whole-building option is also available, with the entire 4,996-square-foot building offered for purchase.
Key Highlights
- Newly built office condo units with covered front entry, reception area, multiple offices, break area, and restrooms
- Approximately 1,250 SF under roof (per unit) and 5 parking spaces per unit
- Construction started with slabs poured Sept 19–Sept 30; units planned for availability by January 2026
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
$15,852
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
3.73%
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%
$317,040
$317.0K
Cap Rate 7%
$226,457
$226.5K
Cap Rate 9%
$176,133
$176.1K
Market Conditions
NOI Build-Up for 1,250 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
$27.5K $21.96/SF
− Vacancy
−$6.3K −$5.05/SF
EGI
$21.1K $16.91/SF
− OpEx
−$5.3K −$4.23/SF
NOI
$15.9K $12.68/SF
Area
Hunt County, TX
Vacancy
23.00%
Lease Rate
$21.96 /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%
$317,040
Cap Rate 7%
$226,457
Cap Rate 9%
$176,133
Alternative Uses
Best Use
Office B
$226.5K
$198.2K – $264.2K
NOI $15,852 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$1.24M
$1.09M – $1.45M
NOI $86,945 @ 7.0% cap · market cap 20.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Explore this area
Business Placement
Demographics for 75402, TX
18,983
Population
8,024
Households
2.4
Avg Household Size
41
Median Age
32%
College-Educated
93%
High-School Grad
90.8 sq mi
ZIP Area
209
Density / Sq Mi
$77,602
Median Household Income
$46,076
Median Earnings
$1,414
Median Rent
$252,500
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 units - New office condo units with covered entry, reception, multiple offices, break area, restrooms, and parking for professionals.
Where is this office units located?
The property is located at 404-2200 Traders Rd Greenville, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Newly built office condo units with covered front entry, reception area, multiple offices, break area, and restrooms; Approximately 1,250 SF under roof (per unit) and 5 parking spaces per unit; Construction started with slabs poured Sept 19–Sept 30; units planned for availability by January 2026
