Flex/Industrial Building with Open
550 S FM 1138 Nevada, TX 75173
550 S FM 1138, Nevada, TX, 75173
$399,900
For Sale
$399,900
COMMERCIAL - Nevada, TX
Property Size3,000 SF
Lot Size1.44 Acres
Price / SF$133.30
Days on Market100
Property Features for 550 S FM 1138
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- Garage, Assigned, Oversize
- Standard status
- Active
- APN
- R631200000101
- Lot size
- 1.44 Acres
Taxes and HOA fees
- Tax Description
- ABS A0312 J W FOOTE SURVEY, TRACT 1, 1.436 AC
- Tax Annual Amount
- 8862
Building Details
- Year built
- 1974
- Floors in Building
- 1
- Number of units
- 1
- Flooring type
- Concrete
- Building materials
- Concrete
- Roof type
- Concrete
Listing Agency
U Property Management
(469) 500-1268
Plano, TX
Listed by
Jay Fang · License #0671181
(469) 514-3375
Added: Apr 10 Checked: Jul 18 at 5:06 am
MLS# 21189596
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex/industrial building was originally a unique AT&T microwave equipment center, offering a distinctive, durable construction profile with 24" rhubarb concrete walls and 15' ceilings. The interior features over 3,000 square feet of wide-open space that can be designed for a variety of uses. The space is already plumbed to support a kitchen, bathrooms, and office buildout, making it adaptable for mixed business needs. Electrical has been newly updated by the latest tenant for crypto mining use, with a total of three Eaton panels (Model: PRL1a) and Phase 3 Wire 4, 208Y 120V configuration, and there is $10,000 worth of electrical cable still available on site.
Set on 1.4 acres in a fast-growing part of Collin County, the property includes fenced parking designed to keep operations private and secure. The combination of open interior volume and secure site amenities supports businesses that need flexible layout options along with controlled on-site parking.
For buyers and operators seeking a rare, conversion-ready facility, the building’s open plan, existing plumbing infrastructure, and strengthened electrical capacity provide a practical foundation for custom office-and-workspace configurations or industrial-oriented uses. The fenced, private site further adds value for organizations prioritizing security and straightforward day-to-day access.
Set on 1.4 acres in a fast-growing part of Collin County, the property includes fenced parking designed to keep operations private and secure. The combination of open interior volume and secure site amenities supports businesses that need flexible layout options along with controlled on-site parking.
For buyers and operators seeking a rare, conversion-ready facility, the building’s open plan, existing plumbing infrastructure, and strengthened electrical capacity provide a practical foundation for custom office-and-workspace configurations or industrial-oriented uses. The fenced, private site further adds value for organizations prioritizing security and straightforward day-to-day access.
Key Highlights
- 1974 former AT&T microwave equipment center building on 1.4 acres with fenced parking
- Over 3,000 SF wide‑open interior space with 15' ceilings for flexible layouts
- Concrete construction throughout with concrete roof and concrete flooring
Local Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.0k | $12.00 |
| − Vacancy | −$2.2k | −$0.72 |
| EGI | $33.8k | $11.28 |
| − OpEx | −$11.8k | −$3.95 |
| NOI | $22.0k | $7.33 |
3,000 SF · lease $12.00/SF/yr · vacancy 6.00% · expense 35.00%
Alternative Uses
Best Use
Industrial
$2.98M
$2.61M – $3.48M
NOI $208,669 @ 7.0% cap · market cap 52.18%
Second Best
Flex RnD
$314.2K
$275.0K – $366.6K
NOI $21,996 @ 7.0% cap · market cap 5.50%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
FAQs
What type of property is this?
Flex space - Former AT&T microwave equipment center with expansive open interior, updated power, and fenced parking on 1.4 acres.
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: 1974 former AT&T microwave equipment center building on 1.4 acres with fenced parking; Over 3,000 SF wide‑open interior space with 15' ceilings for flexible layouts; Concrete construction throughout with concrete roof and concrete flooring
