Office Property with Flexible
For Sale
$550,000
5098 Fairview Road, Millsap, TX 76066
The two structures contain multiple kitchens, laundry facilities, rooms, and open areas.
Property Size3,680 SF
Price / SF$149.46
Days on Market14
Property Features for 5098 Fairview Road
General Information
Standard status
Active
Size
3,680 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Property Use
Office
Building Details
Year Built
2003
Year Renovated
2023
Buildings
2
Listing Agency:
Arise Capital Real Estate
(682) 558-0005
Listed By:
Jennifer Cox · License #0758764
(775) 910-9358
Source:
Magnorumrealty
Added: Oct 19
Changed: Oct 29
Last Checked: Oct 31 at 8:57PM
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 Arise Capital Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Classified as office space, the property is currently used residentially and includes a primary structure and a tiny home. Together, the buildings have two kitchens, three full bathrooms, two laundry facilities, five rooms or flex spaces, and three living or open areas. The primary structure was remodeled from the ground up, including its roof, approximately in 2023; the tiny home was built out approximately one year ago. A septic system and water tap were installed just months ago.
The property is near I-20 at the Brock exit and across from a major industrial commercial development. Zoning, permitted uses, utilities, access, and development restrictions should be verified for any intended use.
The property is near I-20 at the Brock exit and across from a major industrial commercial development. Zoning, permitted uses, utilities, access, and development restrictions should be verified for any intended use.
Key Highlights
- Two structures: a primary building and a tiny home
- Five rooms or flex spaces and three living or open areas
- Two kitchens, three full bathrooms, and two laundry facilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,669
Cap Rate
8.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$933,380
$933.4K
Cap Rate 7%
$666,700
$666.7K
Cap Rate 9%
$518,544
$518.5K
Market Conditions
NOI Build-Up for 3,680 SF
Gross rent
$80.8K $21.96/SF
− Vacancy
−$18.6K −$5.05/SF
EGI
$62.2K $16.91/SF
− OpEx
−$15.6K −$4.23/SF
NOI
$46.7K $12.68/SF
Area
Parker County, TX
Vacancy
23.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$933,380
Cap Rate 7%
$666,700
Cap Rate 9%
$518,544
Alternative Uses
Best Use
Office B
$666.7K
$583.4K – $777.8K
NOI $46,669 @ 7.0% cap · market cap 8.49%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$3.66M
$3.20M – $4.27M
NOI $255,967 @ 7.0% cap · market cap 46.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
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
Frequently Asked Questions
What type of property is this?
Office space - The two structures contain multiple kitchens, laundry facilities, rooms, and open areas.
Where is this office space located?
The property is located at 5098 Fairview Road Millsap, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two structures: a primary building and a tiny home; Five rooms or flex spaces and three living or open areas; Two kitchens, three full bathrooms, and two laundry facilities
