Remodeled Brick Office
509 S Elm Street, Royse City, TX 75189
For Sale
$325,000
CommercialSale, Royse City, TX
Property Size1,048 SF
Lot Size0.17 Acres
Price / SF$310.11
Days on Market78
Property Features for 509 S Elm Street
General Information
Property type
Property subtype
Zoning description
Parking features
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Property Use
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Top Notch Realty & Associates
Listed By:
Zachary Romans · License TX #0742096
(903) 348-3196
Added: Aug 27
Changed: Nov 10
Last Checked: Nov 12 at 8:06AM
MLS# 21370675
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,048-square-foot office building sits on a 0.165-acre lot and was built in 1980. Brick construction, vinyl flooring, and a composition roof define the improvements. The office received remodeling work in 2019, the roof was replaced in 2021, and the AC was replaced last year. Heating is natural gas and central; cooling is central air and electric. Public water and sewer serve the property.
The property is very close to I-30. Assigned parking is available, and a long-term renter occupies the office.
The property is very close to I-30. Assigned parking is available, and a long-term renter occupies the office.
Key Highlights
- 1,048‑square‑foot office building on a 0.165‑acre lot
- Remodeled in 2019; roof replaced in 2021
- AC replaced last year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,530
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$350,600
$350.6K
Cap Rate 7%
$250,429
$250.4K
Cap Rate 9%
$194,778
$194.8K
Market Conditions
NOI Build-Up for 1,048 SF
Gross rent
$32.2K $30.72/SF
− Vacancy
−$8.8K −$8.42/SF
EGI
$23.4K $22.30/SF
− OpEx
−$5.8K −$5.58/SF
NOI
$17.5K $16.73/SF
Area
Rockwall 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%
$350,600
Cap Rate 7%
$250,429
Cap Rate 9%
$194,778
Alternative Uses
Best Use
Office B
$250.4K
$219.1K – $292.2K
NOI $17,530 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$368.7K
$322.6K – $430.1K
NOI $25,806 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Explore this area
Business Placement
Demographics for 75189, TX
37,777
Population
15,331
Households
2.5
Avg Household Size
34
Median Age
30%
College-Educated
93%
High-School Grad
109.9 sq mi
ZIP Area
344
Density / Sq Mi
$118,105
Median Household Income
$56,979
Median Earnings
$2,133
Median Rent
$336,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - A long-term renter occupies the office, with assigned parking and central heating and cooling.
Where is this office building located?
The property is located at 509 S Elm Street Royse City, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,048‑square‑foot office building on a 0.165‑acre lot; Remodeled in 2019; roof replaced in 2021; AC replaced last year
