Three-Suite Office
For Sale
$749,000
431 N State Highway 342, Red Oak, TX 75154
Three office suites with flexible layouts, on-site parking, and an ADA-accessible restroom.
Property Size1,950 SF
Price / SF$384.10
Days on Market48
Property Features for 431 N State Highway 342
General Information
Standard status
Active
Size
1,950 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
3
Building Details
Year Built
2018
Listing Agency:
RE/MAX Best
Listed By:
Patty Jordan · License #0621210
(972) 275-6172
Source:
Christenberrygroup
Added: Sep 5
Changed: Oct 17
Last Checked: Oct 7 at 1:45PM
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 Best
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Investment Insights
Based on property information with market context.
This 1,950-square-foot office property, built in 2018, contains three individual commercial suites. Suite C provides approximately 600 square feet with a 19' x 20' main office, an 8' x 5' flex area, and an approximately 8' x 8' ADA-accessible restroom. Laminate flooring, recessed lighting, a ceiling fan, and natural light are included in the suite. The flex area can accommodate private office, storage, break-room, or additional workspace functions.
Located at 431 N State Highway 342 in Red Oak, the property fronts a corridor with an estimated 10,000+ vehicles passing daily. The site includes convenient access to parking areas and ample on-site parking, with access to major highways. The three-suite configuration supports separate office occupancy within a single commercial property.
Located at 431 N State Highway 342 in Red Oak, the property fronts a corridor with an estimated 10,000+ vehicles passing daily. The site includes convenient access to parking areas and ample on-site parking, with access to major highways. The three-suite configuration supports separate office occupancy within a single commercial property.
Key Highlights
- 1,950‑square‑foot office property with three commercial suites
- Suite C offers approximately 600 square feet
- 19' x 20' main office plus an 8' x 5' flex area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,618
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$652,360
$652.4K
Cap Rate 7%
$465,971
$466.0K
Cap Rate 9%
$362,422
$362.4K
Market Conditions
NOI Build-Up for 1,950 SF
Gross rent
$59.9K $30.72/SF
− Vacancy
−$16.4K −$8.42/SF
EGI
$43.5K $22.30/SF
− OpEx
−$10.9K −$5.58/SF
NOI
$32.6K $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%
$652,360
Cap Rate 7%
$465,971
Cap Rate 9%
$362,422
Alternative Uses
Best Use
Office B
$466.0K
$407.7K – $543.6K
NOI $32,618 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$21.28M
$18.62M – $24.82M
NOI $1,489,440 @ 7.0% cap · market cap 198.86%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 75154, TX
45,894
Population
17,170
Households
2.7
Avg Household Size
36
Median Age
31%
College-Educated
88%
High-School Grad
47.8 sq mi
ZIP Area
960
Density / Sq Mi
$96,150
Median Household Income
$48,112
Median Earnings
$1,446
Median Rent
$296,000
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Three office suites with flexible layouts, on-site parking, and an ADA-accessible restroom.
Where is this office unit located?
The property is located at 431 N State Highway 342 Red Oak, 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: 1,950‑square‑foot office property with three commercial suites; Suite C offers approximately 600 square feet; 19' x 20' main office plus an 8' x 5' flex area
