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    Second-Floor Office Suite in Historic Building Title is generated by Realmo AI

    501 W Avenue F, Midlothian, TX 76065

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    For Lease
    $675/Mo $95 SF/Yr (calc)

    COMMERCIAL - Midlothian, TX

    Type:Office
    Property size:
    85 SF
    Lot size:
    0.50 Acres
    Added:
    May 29, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 3 at 8:06 am

    Property Features for 501 W Avenue F

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Parking features
    On Street, Open
    Standard status
    Active
    APN
    193541
    Lot size
    0.50 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1921
    Floors in Building
    2
    Number of units
    1
    Flooring type
    Hardwood
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Clark Wickliffe

    Listing agent Clark Wickliffe License #0647052

    Listing office RE/MAX FRONTIER MIDLOTHIAN, TX

    Listing date May 29, 2026

    MLS# 21283319

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Union House historic 1921 brick building reimagined as a multi‑tenant office community
    • Suite 205 is a private second‑floor office with 85 SF and shared access to common areas
    • Shared amenities include a coffee bar lounge, conference room, and on‑site restrooms
    • NNN lease structure: base rent plus CAM at $2.25 per SF
    • Public utilities: public water and public sewer
    • Roof is composition; HVAC includes central air and central/electric heating

    Overview

    Union House is a historic 1921 landmark reimagined as a multi-tenant office community. Suite 205 is a private, cozy second-floor office designed for focused work, with shared access to a coffee bar lounge, a conference room, and on-site restrooms. The space pairs modern finishes with its established heritage feel, offering a distinctive setting for day-to-day operations.

    Located at 501 W Avenue F in Midlothian, the property is positioned in the heart of downtown. Tenants can take advantage of on-site parking and a walkable environment with nearby local dining and city offices, supporting convenient access for clients, staff, and visitors.

    This suite is a practical fit for small teams, professional services, and businesses that value a private office complemented by shared common spaces. The NNN structure is described as base rent plus CAM at $2.25 per SF, making it straightforward for tenants to plan operating costs alongside the rent. With conference and lounge access already integrated into the community, the layout supports meetings and informal collaboration without requiring additional private buildout.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Midlothian
    County
    Ellis
    State
    Texas
    Longitude
    -96.998053
    Latitude
    32.483611

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    FAQs

    What type of property is this?
    Office units - Private second-floor office suite with shared conference, coffee lounge, and on-site restrooms in a landmark building.
    Where is this office units located?
    The property is located at 501 W Avenue F Midlothian, TX.
    What is the lease rate?
    The lease rate is $675 /Mo.
    What are key features of this property?
    This property features: Union House historic 1921 brick building reimagined as a multi‑tenant office community; Suite 205 is a private second‑floor office with 85 SF and shared access to common areas; Shared amenities include a coffee bar lounge, conference room, and on‑site restrooms
    (469) 846-0123
    We can help!
    Listing Contact
    Clark Wickliffe
    Real Estate License ID: 0647052
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    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.

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