Building Details

Building Size 2,800 SF

Year Built 1950

Stories 1

Units 1

Listing Agency: Keller Williams Rockwall Show Phone

Listed By: Patty Turner · License #0426347 Show Phone

Source: Cogburnrealestate

Added: Oct 22 Changed: Oct 23 Last Checked: Oct 23 at 6:05PM

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Investment Insights

Based on property information with market context.

This commercial land offering combines two lots with an existing 2,800-square-foot building constructed in 1950. The property is zoned Commercial Retail District, supporting its identification as a commercial development or redevelopment site.

The lots are located on Avenue D, also identified as Highway 66, and the listing covers 500 and 504 Ford Street in Garland, Texas.

Key Highlights

• Two lots included at 500 and 504 Ford Street
• Existing 2,800‑square‑foot building, built in 1950
• Commercial Retail District zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$45,053

Cap Rate

9.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$901,060 $901.1K

Cap Rate 7%

$643,614 $643.6K

Cap Rate 9%

$500,589 $500.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,800 SF

Gross rent

$67.5K $24.12/SF

− Vacancy

−$3.2K −$1.13/SF

EGI

$64.4K $22.99/SF

− OpEx

−$19.3K −$6.90/SF

NOI

$45.1K $16.09/SF

Area

Garland, TX

Vacancy

4.70%

Lease Rate

$24.12 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$901,060

Cap Rate 7%

$643,614

Cap Rate 9%

$500,589

Alternative Uses

Best Use

Retail

$643.6K

$563.2K – $750.9K (±1% cap)

NOI $45,053 @ 7.0% cap · market cap 9.01%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.36M

$2.94M – $3.92M (±1% cap)

NOI $235,184 @ 7.0% cap · market cap 47.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Marcey's Refrigeration & Appliance ... Home Appliance Store

Suggested Use

Top Pick Real Estate Agency Law Firm Pharmacy Parking Lot & Garage Dental Office Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

791

Businesses Nearby

52k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 83% Dining 17%

QuikTrip Shops & Services

32,564 visits/mo 0.4 miles

Burger King Dining

6,973 visits/mo 0.3 miles

Exxon Shops & Services

5,766 visits/mo 0.4 miles

Advance Auto Parts Shops & Services

2,022 visits/mo 0.4 miles

Stop N Go Shops & Services

1,679 visits/mo 0.3 miles

Demographics for 75040, TX

64,035

Population

21,629

Households

3

Avg Household Size

36

Median Age

23%

College-Educated

77%

High-School Grad

15.7 sq mi

ZIP Area

4,079

Density / Sq Mi

$73,537

Median Household Income

$39,019

Median Earnings

$1,670

Median Rent

$245,400

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Commercial land - Two adjoining lots in a Commercial Retail District include an existing building for commercial redevelopment.

Where is this commercial land located?

The property is located at 500 Ford Street Garland, TX.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: Two lots included at 500 and 504 Ford Street; Existing 2,800‑square‑foot building, built in 1950; Commercial Retail District zoning