Flexible Shell Space with Open
New
For Sale
$749,000
4116 State Highway 121 #100, Carrollton, TX 75010
Commercially zoned shell space offers an adaptable interior for tenant-designed improvements.
Property Size1,670 SF
Days on Market2
Property Features for 4116 State Highway 121 #100
General Information
Standard status
Active
Size
1,670 SF
Property subtype
Commercial
Zoning
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
1,670 SF
Year Built
2023
Stories
1
Units
1
Listing Agency:
Beam Real Estate, LLC
(469) 731-5122
Listed By:
Lilu David · License #0691855
(469) 731-5122
Source:
Cornerstonehomeandranch
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 3:19AM
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 Beam Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 2023, this flex space is delivered as a commercial shell with an open interior that can be configured for a range of business needs. The property carries Commercial zoning and includes 20 ft high ceilings, providing substantial vertical clearance for future improvements and operations.
The space is located at 4116 State Highway 121 #100 in Carrollton, Texas, with frontage along State Highway 121. Its highway-oriented position provides direct exposure to the corridor, while the flexible shell condition allows a future occupant to shape the interior around its specific requirements.
The space is located at 4116 State Highway 121 #100 in Carrollton, Texas, with frontage along State Highway 121. Its highway-oriented position provides direct exposure to the corridor, while the flexible shell condition allows a future occupant to shape the interior around its specific requirements.
Key Highlights
- Commercial shell condition with open interior layout
- 20 ft high ceilings
- Commercial zoning
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
$26,843
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
3.58%
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%
$536,860
$536.9K
Cap Rate 7%
$383,471
$383.5K
Cap Rate 9%
$298,256
$298.3K
Market Conditions
NOI Build-Up for 1,670 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
$40.3K $24.12/SF
− Vacancy
−$1.9K −$1.16/SF
EGI
$38.3K $22.96/SF
− OpEx
−$11.5K −$6.89/SF
NOI
$26.8K $16.07/SF
Area
Carrollton, TX
Vacancy
4.80%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
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%
$536,860
Cap Rate 7%
$383,471
Cap Rate 9%
$298,256
Alternative Uses
Best Use
Retail
$383.5K
$335.5K – $447.4K
NOI $26,843 @ 7.0% cap · market cap 3.58%
Second Best
Industrial
$150.5K
$131.7K – $175.6K
NOI $10,537 @ 7.0% cap · market cap 1.41%
Theoretical Best
Specialty Retail
$410.9K
$359.5K – $479.3K
NOI $28,760 @ 7.0% cap · market cap 3.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
612
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75010, TX
33,186
Population
13,798
Households
2.4
Avg Household Size
36
Median Age
57%
College-Educated
95%
High-School Grad
6.8 sq mi
ZIP Area
4,880
Density / Sq Mi
$105,386
Median Household Income
$61,995
Median Earnings
$1,797
Median Rent
$434,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Pasoli Catering Services — 4253 Hunt Dr, Carrollton, TX 75010
Frequently Asked Questions
What type of property is this?
Flex space - Commercially zoned shell space offers an adaptable interior for tenant-designed improvements.
Where is this flex space located?
The property is located at 4116 State Highway 121 #100 Carrollton, TX.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Commercial shell condition with open interior layout; 20 ft high ceilings; Commercial zoning
