New Three-Unit Flex
For Sale
$1,050,000
4916 Fairview Rd, Millsap, TX 76066
Modern flex space combines conditioned offices, private restrooms, and loading access for contractors, service businesses, and light industrial operations.
Property Size3,501 SF
Price / SF$899.74
Days on Market44
Property Features for 4916 Fairview Rd
General Information
Standard status
Active
Size
3,501 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Drive-In Doors
3
Building Details
Year Built
2025
Buildings
1
Building Size
3,501 SF
Listing Agency:
CLARK REAL ESTATE GROUP
(817) 458-0402
Listed By:
Alice Borron · License #0371674
Source:
Christenberrygroup
Added: Jul 18
Changed: Aug 28
Last Checked: Aug 29 at 11:51AM
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 CLARK REAL ESTATE GROUP
Investment Insights
Based on property information with market context.
Located at 4916 Fairview Road, this newly constructed flex property contains 3,501 square feet arranged as three individual units. Each unit includes an office with heating and cooling, a private restroom, and a grade-level automated overhead door measuring 10’ x 10’. The insulated building provides 14-foot ceiling heights and 12-foot sidewalls for equipment, storage, and day-to-day operations.
The property sits on the north side of I-20 in the Brock area, near the I-20 service road. An additional poured pad is ready for construction of another 6,750-square-foot structure, and access to the service road has been approved for a future curb cut. The configuration supports contractor, light industrial, service business, and storage uses identified in the property information.
The property sits on the north side of I-20 in the Brock area, near the I-20 service road. An additional poured pad is ready for construction of another 6,750-square-foot structure, and access to the service road has been approved for a future curb cut. The configuration supports contractor, light industrial, service business, and storage uses identified in the property information.
Key Highlights
- 3,501 SF flex building configured as 3 individual units
- Each unit includes 1 heated and cooled office and a private restroom
- Each unit has a grade‑level 10’ x 10’ automated overhead door
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
$81,172
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
7.73%
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%
$1,623,440
$1.6M
Cap Rate 7%
$1,159,600
$1.2M
Cap Rate 9%
$901,911
$901.9K
Market Conditions
NOI Build-Up for 1,167 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
$128.4K $110.04/SF
− Vacancy
−$12.5K −$10.67/SF
EGI
$116.0K $99.37/SF
− OpEx
−$34.8K −$29.81/SF
NOI
$81.2K $69.56/SF
Area
Parker County, TX
Vacancy
9.70%
Lease Rate
$110.04 /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%
$1,623,440
Cap Rate 7%
$1,159,600
Cap Rate 9%
$901,911
Alternative Uses
Best Use
Industrial
$1.16M
$1.01M – $1.35M
NOI $81,172 @ 7.0% cap · market cap 7.73%
Second Best
Office B
$211.4K
$185.0K – $246.7K
NOI $14,800 @ 7.0% cap · market cap 1.41%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76066, TX
3,816
Population
1,977
Households
1.9
Avg Household Size
42
Median Age
34%
College-Educated
87%
High-School Grad
88.0 sq mi
ZIP Area
43
Density / Sq Mi
$102,931
Median Household Income
$55,859
Median Earnings
$834
Median Rent
$246,100
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?
Flex space - Modern flex space combines conditioned offices, private restrooms, and loading access for contractors, service businesses, and light industrial operations.
Where is this flex space located?
The property is located at 4916 Fairview Rd Millsap, TX.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 3,501 SF flex building configured as 3 individual units; Each unit includes 1 heated and cooled office and a private restroom; Each unit has a grade‑level 10’ x 10’ automated overhead door
