Updated Multi-Tenant Office
515 W Southlake Blvd Unit A1, Southlake, TX 76092
For Sale
$4,300,000
One-story office property with flexible zoning, monument signage, updated building systems, and a dedicated owner-user suite.
Property Size12,782 SF
Price / SF$336.41
Days on Market130
Property Features for 515 W Southlake Blvd Unit A1
General Information
Standard status
Size
Property subtype
Amenities
Monument signage
green space
option to build deck
new LED lighting
added insulation
floor to ceiling glass
conference room
white oak floors
custom kitchen break room
Building Details
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Milani Properties LLC
Listed By:
Lacy Milani-Ingalls · License TX #0690122
(214) 228-7936
Source:
Granburyhomefinder
Added: Jul 8
Changed: Nov 1
Last Checked: Nov 10 at 12:57PM
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 Milani Properties LLC
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Investment Insights
Based on property information with market context.
Built in 2001, this one-story office building has been updated for a multi-tenant configuration that can accommodate both leased suites and an owner-user. Improvements include a new roof, LED lighting throughout, and added sound insulation. The property includes executive suites, a dedicated owner-user area, and additional space that can support approximately 5,000 SF of owner occupancy or another tenant. The owner-user suite features floor-to-ceiling glass, a conference room, white oak flooring, and a custom kitchen break room.
Located at 515 W Southlake Blvd Unit A1 in Southlake, the building sits at a lighted intersection with monument signage. Ample parking and rear green space are included, with the source information also identifying the possibility of adding a deck or additional SF. Flexible zoning supports medical and professional office uses. Lease arrangements include executive suites on year-to-year terms, as well as leases extending up to ten years with options for additional ten-year NNN renewals.
Located at 515 W Southlake Blvd Unit A1 in Southlake, the building sits at a lighted intersection with monument signage. Ample parking and rear green space are included, with the source information also identifying the possibility of adding a deck or additional SF. Flexible zoning supports medical and professional office uses. Lease arrangements include executive suites on year-to-year terms, as well as leases extending up to ten years with options for additional ten-year NNN renewals.
Key Highlights
- One‑story office building at 515 W Southlake Blvd Unit A1, Southlake, TX 76092
- Built in 2001 with a brand new roof and LED lighting throughout
- Approximately 5,000sf of owner‑user space or room for an additional tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$220,873
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,417,460
$4.4M
Cap Rate 7%
$3,155,329
$3.2M
Cap Rate 9%
$2,454,144
$2.5M
Market Conditions
NOI Build-Up for 12,782 SF
Gross rent
$392.7K $30.72/SF
− Vacancy
−$98.2K −$7.68/SF
EGI
$294.5K $23.04/SF
− OpEx
−$73.6K −$5.76/SF
NOI
$220.9K $17.28/SF
Area
Tarrant County, TX
Vacancy
25.00%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,417,460
Cap Rate 7%
$3,155,329
Cap Rate 9%
$2,454,144
Alternative Uses
Best Use
Office B
$3.16M
$2.76M – $3.68M
NOI $220,873 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.50M
$3.93M – $5.25M
NOI $314,744 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
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Business Placement
Demographics for 76092, TX
31,924
Population
9,886
Households
3.2
Avg Household Size
42
Median Age
75%
College-Educated
99%
High-School Grad
22.7 sq mi
ZIP Area
1,406
Density / Sq Mi
$250,001
Median Household Income
$123,882
Median Earnings
$3,501
Median Rent
$956,200
Median Home Value
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Market
Properties on Market for Office buildings in Southlake
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - One-story office property with flexible zoning, monument signage, updated building systems, and a dedicated owner-user suite.
Where is this office building located?
The property is located at 515 W Southlake Blvd Unit A1 Southlake, TX.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: One‑story office building at 515 W Southlake Blvd Unit A1, Southlake, TX 76092; Built in 2001 with a brand new roof and LED lighting throughout; Approximately 5,000sf of owner‑user space or room for an additional tenant
