Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    404 South Elm Street Royse City, TX 75189

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space with high traffic, private parking, and customization options.

    Type:OFC
    Added:
    Aug 21, 2024
    Days on Market:
    596
    Last Refresh:
    Apr 3 at 5:03 am

    Property Features for 404 South Elm Street

    General Information

    Standard status
    Active
    Property subtype
    OFC

    Spaces For Lease

    at 404 South Elm Street Contact us

    We can help!

    Listing Contact
    Russell Ratterree
    Russell Ratterree

    Listing agent Russell Ratterree

    Listing office KW Commercial | Rockwall | Russell Ratterree

    Listing date Aug 21, 2024

    Source Realnex

    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 KW Commercial | Rockwall | Russell Ratterree

    Overview

    High-Visibility Office Space Available

    This office space is situated in a prime location between historic Main Street in Royse City and I-30, benefiting from high traffic counts and visibility in both the morning and evening. Located on the main thoroughfare entering and exiting from I-30, the property features an ADA-compliant bathroom, private offices, a kitchen, storage, and a conference room. The space can be modified to accommodate more private offices based on tenant needs. It includes three bathrooms, a kitchen area, secure storage, and a copy room. Private, gated parking is available in the rear, along with a private rear entrance and an outdoor patio.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    CENTURY 21 Patterson ... Real Estate Agency North Texas Mobile ... Car Wash

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Royse City
    County
    Rockwall
    State
    Texas
    Longitude
    -96.3317267
    Latitude
    32.9725587

    Nearby Similar for Lease

    • Contact for pricing

      Royse City Commercial Space

      Flexible commercial space suitable for office, retail, or industrial use.
      6441 State Highway 276 W, Royse City, TX 75189
      View Details
    • Contact for pricing

      I-30 Frontage Industrial Flex Space

      9,000 SF industrial flex/warehouse space on 2.78 acres.
      6565 Blackland Road, Fate, TX 75189
      View Details
    • Contact for pricing

      Retail Space For Lease

      11,301 SF retail space available in Royse City, TX.
      2812 Epps Rd, Royse City, TX
      View Details
    • Contact for pricing

      Retail Space in Royse City

      Retail space available for lease in Royse City, Texas.
      889 Erby Campbell Blvd, Royse City, TX
      View Details
    • Contact for pricing

      Royse City Flex/Industrial Space

      2,800 SF flex/industrial space available for lease.
      5504 Co Rd 2646, Royse City, TX
      View Details
    • Contact for pricing

      Office Space in Royse City

      Office space available for rent in Royse City, Texas.
      501 S Elm St, Royse City, TX
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      1,300 SF retail space available in Royse City, TX.
      921-931 Erby Campbell Blvd, Royse City, TX
      View Details
    • Contact for pricing

      Restaurant and Retail Space Available

      New construction retail and restaurant space with drive-thru.
      1230 Memorial Pkwy, Royse City, TX
      View Details
    • Contact for pricing

      Flex Space with Retail/Office Storefront

      Flex space with retail/office storefront and warehouse space available.
      6723 I-30 Frontage Rd, Royse City, TX
      View Details
    • Contact for pricing

      Historic Building in Downtown Royse

      Renovated storefront in a rapidly growing city.
      205 E Main St, Royse City, TX
      View Details

    FAQs

    What type of property is this?
    Office units - Office space with high traffic, private parking, and customization options.
    Where is this office units located?
    The property is located at 404 South Elm Street Royse City, TX.
    What are key features of this property?
    This property features: Prime location between historic Main Street and I‑30 with high traffic and visibility.; Adaptable space can be modified to accommodate more private offices.; Private, gated parking in the rear with private rear entrance.
    (214) 448-0247
    We can help!
    Listing Contact
    Russell Ratterree
    Russell Ratterree
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!