Remodeled Office
For Sale
$345,678
509 S Elm Street, Royse City, TX 75189
Office property with updated roofing and air conditioning near I-30.
Property Size1,048 SF
Price / SF$329.85
Days on Market49
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Property Features for 509 S Elm Street
General Information
Standard status
Active
Size
1,048 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Year Built
1980
Year Renovated
2019
Tenancy
Single
Listing Agency:
Perfect Realty Partners
Listed By:
Christine Beckendorf
(817) 783-9497
Source:
Txluxere
Added: Aug 28
Changed: Oct 15
Last Checked: Oct 14 at 11:38PM
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 Perfect Realty Partners
Investment Insights
Based on property information with market context.
This office property at 509 S Elm Street in Royse City was built in 1980 and remodeled in 2019. The roof was replaced in 2021, and the air-conditioning system was replaced last year, providing several documented updates to the building. The property is located very close to I-30 and has a long-term renter in place. The listing also identifies an ownership interest held by the agent.
Key Highlights
- Office building at 509 S Elm Street, Royse City, TX 75189
- Remodeled in 2019
- Roof replaced in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,530
Cap Rate
5.07%
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 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$789.4K
$690.7K – $920.9K
NOI $55,256 @ 7.0% cap · market cap 15.98%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Office property with updated roofing and air conditioning near I-30.
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 $345,678.
What are key features of this property?
This property features: Office building at 509 S Elm Street, Royse City, TX 75189; Remodeled in 2019; Roof replaced in 2021
