Flex Space with Retail or Office
For Sale
$560,000
514 Gulf Ave, Justin, TX 76247
Adaptable commercial space supports retail, office, or service-oriented operations in Justin.
Property Size5,250 SF
Price / SF$106.67
Days on Market87
Property Features for 514 Gulf Ave
General Information
Standard status
Active
Size
5,250 SF
Building Details
Year Built
1970
Listing Agency:
HH Realty
Listed By:
Angie Gragg · License #0521748
(469) 321-3468
Source:
Minteerteam
Added: Jul 20
Changed: Oct 14
Last Checked: Oct 7 at 12:56PM
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 HH Realty
Investment Insights
Based on property information with market context.
This 5,250-square-foot flex property provides a commercial building suitable for retail, office, or service use. Constructed in 1970, the asset offers an established physical platform for a business requiring a combination of commercial and workspace functions.
The property is located at 514 Gulf Ave in Justin, Texas, with access to Hwy 114 and I-35W. Its position within the community supports businesses seeking a presence in a North Texas town experiencing population and housing growth.
The property is located at 514 Gulf Ave in Justin, Texas, with access to Hwy 114 and I-35W. Its position within the community supports businesses seeking a presence in a North Texas town experiencing population and housing growth.
Key Highlights
- 5,250 SF flex space
- Built in 1970
- Suitable for retail, office, or service use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,947
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,940
$538.9K
Cap Rate 7%
$384,957
$385.0K
Cap Rate 9%
$299,411
$299.4K
Market Conditions
NOI Build-Up for 5,250 SF
Gross rent
$42.2K $8.04/SF
− Vacancy
−$3.7K −$0.71/SF
EGI
$38.5K $7.33/SF
− OpEx
−$11.5K −$2.20/SF
NOI
$26.9K $5.13/SF
Area
Denton County, TX
Vacancy
8.80%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,940
Cap Rate 7%
$384,957
Cap Rate 9%
$299,411
Alternative Uses
Best Use
Industrial
$385.0K
$336.8K – $449.1K
NOI $26,947 @ 7.0% cap · market cap 4.81%
Second Best
Flex RnD
$374.7K
$327.9K – $437.1K
NOI $26,228 @ 7.0% cap · market cap 4.68%
Theoretical Best
Multifamily LT 5
$73.42M
$64.24M – $85.65M
NOI $5,139,276 @ 7.0% cap · market cap 917.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76247, TX
17,178
Population
6,610
Households
2.6
Avg Household Size
36
Median Age
34%
College-Educated
97%
High-School Grad
74.4 sq mi
ZIP Area
231
Density / Sq Mi
$123,173
Median Household Income
$61,878
Median Earnings
$2,070
Median Rent
$372,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Lonesome Spur Cafe & Catering — 218 FM156, Justin, TX 76247
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial space supports retail, office, or service-oriented operations in Justin.
Where is this flex space located?
The property is located at 514 Gulf Ave Justin, TX.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: 5,250 SF flex space; Built in 1970; Suitable for retail, office, or service use
