Flex Space With Outside
New
For Sale
$399,999
5108 Lee Street, Greenville, TX 75401
The property combines showroom-office space with available outside storage under light industrial zoning.
Property Size4,572 SF
Lot Size2.99 Acres
Price / SF$87.49
Days on Market2
Property Features for 5108 Lee Street
General Information
Standard status
Active
Size
4,572 SF
Lot size
2.99 Acres
Property subtype
Commercial
Zoning
Light Industrial
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Amenities
outside storage
paved parking
prominent signage
Building Details
Building Size
4,572 SF
Year Built
1999
Stories
1
Units
1
Listing Agency:
M&D CRE, LLC
(214) 460-8926
Listed By:
Shane Hendrix · License #0776260
(214) 460-8926
Source:
Cuddrealtyinc
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 19 at 3:14AM
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 M&D CRE, LLC
Investment Insights
Based on property information with market context.
Built in 1999, this 4,572-square-foot flex property combines showroom-office space with outside storage availability on a 2.99-acre site. Light Industrial zoning supports the property’s stated commercial configuration, while paved parking and prominent signage are among the on-site improvements.
The property is located at 5108 Lee Street in Greenville, Texas, near Highway 69. Access to Highway 69 and Highway 380 provides connections to the surrounding transportation network. The combination of interior flex space, outdoor storage availability, paved parking, and signage creates a practical setup for businesses requiring both customer-facing space and exterior storage capacity.
The property is located at 5108 Lee Street in Greenville, Texas, near Highway 69. Access to Highway 69 and Highway 380 provides connections to the surrounding transportation network. The combination of interior flex space, outdoor storage availability, paved parking, and signage creates a practical setup for businesses requiring both customer-facing space and exterior storage capacity.
Key Highlights
- 4,572‑square‑foot flex space on 2.99 acres
- Light Industrial zoning
- Showroom‑office configuration with outside storage availability
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,522
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$670,440
$670.4K
Cap Rate 7%
$478,886
$478.9K
Cap Rate 9%
$372,467
$372.5K
Market Conditions
NOI Build-Up for 4,572 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.9K $12.00/SF
− Vacancy
−$3.3K −$0.72/SF
EGI
$51.6K $11.28/SF
− OpEx
−$18.1K −$3.95/SF
NOI
$33.5K $7.33/SF
Area
Hunt County, TX
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$670,440
Cap Rate 7%
$478,886
Cap Rate 9%
$372,467
Alternative Uses
Best Use
Industrial
$4.54M
$3.98M – $5.30M
NOI $318,011 @ 7.0% cap · market cap 79.50%
Second Best
Retail
$1.05M
$919.6K – $1.23M
NOI $73,566 @ 7.0% cap · market cap 18.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75401, TX
19,550
Population
9,067
Households
2.2
Avg Household Size
34
Median Age
14%
College-Educated
82%
High-School Grad
108.1 sq mi
ZIP Area
181
Density / Sq Mi
$57,335
Median Household Income
$33,244
Median Earnings
$1,157
Median Rent
$163,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - The property combines showroom-office space with available outside storage under light industrial zoning.
Where is this flex space located?
The property is located at 5108 Lee Street Greenville, TX.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: 4,572‑square‑foot flex space on 2.99 acres; Light Industrial zoning; Showroom‑office configuration with outside storage availability
