Flex Building with Fenced
For Sale
$399,900
550 S Fm 1138, Nevada, TX 75173
Standalone flex property with fenced parking and existing utility infrastructure for office and support areas.
Property Size3,136 SF
Lot Size1.40 Acres
Price / SF$127.52
Days on Market10
Property Features for 550 S Fm 1138
General Information
Standard status
Active
Size
3,136 SF
Lot size
1.40 Acres
Property subtype
Commercial
Zoning
J4
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
15 ft
Voltage
208 V
Three-Phase Power
Yes
Building Details
Building Size
3,136 SF
Year Built
1974
Stories
1
Units
1
Construction
concrete
Listing Agency:
U Property Management
(469) 500-1268
Listed By:
Jay Fang · License #0671181
(469) 500-1268
Source:
Cuddrealtyinc
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 29 at 10:20AM
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 U Property Management
Investment Insights
Based on property information with market context.
This 3,136-square-foot flex building on 1.4 acres was constructed in 1974 and previously served as an AT&T microwave equipment center. The interior includes more than 3,000 square feet of open area, 24-inch concrete walls, and 15-foot ceilings. Plumbing and electrical connections are in place for kitchen, bathroom, and office areas.
The electrical system was upgraded for the most recent tenant’s crypto-mining operation and includes three Eaton PRL1a panels, each supporting three-phase, four-wire, 208Y/120V service. The property also includes fenced parking, providing a defined outdoor area at 550 S FM 1138 in Nevada, Texas.
The electrical system was upgraded for the most recent tenant’s crypto-mining operation and includes three Eaton PRL1a panels, each supporting three-phase, four-wire, 208Y/120V service. The property also includes fenced parking, providing a defined outdoor area at 550 S FM 1138 in Nevada, Texas.
Key Highlights
- 3,136‑square‑foot flex building on 1.4 acres
- More than 3,000 square feet of open interior area
- 24‑inch concrete walls and 15‑foot ceilings
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
$22,993
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
5.75%
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%
$459,860
$459.9K
Cap Rate 7%
$328,471
$328.5K
Cap Rate 9%
$255,478
$255.5K
Market Conditions
NOI Build-Up for 3,136 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
$37.6K $12.00/SF
− Vacancy
−$2.3K −$0.72/SF
EGI
$35.4K $11.28/SF
− OpEx
−$12.4K −$3.95/SF
NOI
$23.0K $7.33/SF
Area
Collin 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%
$459,860
Cap Rate 7%
$328,471
Cap Rate 9%
$255,478
Alternative Uses
Best Use
Industrial
$3.12M
$2.73M – $3.64M
NOI $218,129 @ 7.0% cap · market cap 54.55%
Second Best
Flex RnD
$328.5K
$287.4K – $383.2K
NOI $22,993 @ 7.0% cap · market cap 5.75%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75173, TX
7,733
Population
3,040
Households
2.5
Avg Household Size
36
Median Age
21%
College-Educated
88%
High-School Grad
32.7 sq mi
ZIP Area
236
Density / Sq Mi
$100,373
Median Household Income
$44,524
Median Earnings
$1,396
Median Rent
$322,000
Median Home Value
Market
Vacancy Rate% for Industrial 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 - Standalone flex property with fenced parking and existing utility infrastructure for office and support areas.
Where is this flex space located?
The property is located at 550 S Fm 1138 Nevada, TX.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 3,136‑square‑foot flex building on 1.4 acres; More than 3,000 square feet of open interior area; 24‑inch concrete walls and 15‑foot ceilings
