Neighborhood Retail Shopping
For Sale
Contact for pricing
565 W Oates Rd, Garland, TX 75043
Neighborhood retail center totaling 32,781 SF in Garland, Texas, positioned near Audubon Park.
Property Size32,781 SF
Price / SF$181.78
Days on Market138
Property Features for 565 W Oates Rd
General Information
Standard status
Active
Size
32,781 SF
Property subtype
Retail
Occupancy
92%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$387,342
Building Details
Year Built
1985
Year Renovated
2020
Tenancy
Multi
Listing Agency:
Crest Commercial Real Estate
Listed By:
Erik Fulkerson · License #TX
(214) 696-6677
Source:
Crexi
Added: Apr 22
Changed: Aug 22
Last Checked: Sep 4 at 3:51AM
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 Crest Commercial Real Estate
Investment Insights
Based on property information with market context.
Audubon Village Shopping Center is a 32,781 square foot neighborhood retail center available for sale. The property is presented as a convenience-oriented retail destination serving the surrounding community, with established long-term tenancy noted in the offering materials.
Located at 565 W Oates Rd in Garland, Texas—just northeast of Dallas—the center benefits from its suburban setting within the Dallas–Fort Worth Metroplex. The public remarks also describe close proximity to Audubon Park, a major recreational hub that draws consistent visitor activity throughout the week and on weekends.
Located at 565 W Oates Rd in Garland, Texas—just northeast of Dallas—the center benefits from its suburban setting within the Dallas–Fort Worth Metroplex. The public remarks also describe close proximity to Audubon Park, a major recreational hub that draws consistent visitor activity throughout the week and on weekends.
Key Highlights
- 32,781 SF neighborhood retail shopping center in Garland, Texas
- Built in 1985
- Located near Audubon Park, a major recreational hub with consistent visitor activity throughout the week and weekends
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
$527,461
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
8.85%
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%
$10,549,220
$10.5M
Cap Rate 7%
$7,535,157
$7.5M
Cap Rate 9%
$5,860,678
$5.9M
Market Conditions
NOI Build-Up for 32,781 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
$790.7K $24.12/SF
− Vacancy
−$37.2K −$1.13/SF
EGI
$753.5K $22.99/SF
− OpEx
−$226.1K −$6.90/SF
NOI
$527.5K $16.09/SF
Area
Garland, TX
Vacancy
4.70%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
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%
$10,549,220
Cap Rate 7%
$7,535,157
Cap Rate 9%
$5,860,678
Alternative Uses
Best Use
Retail
$7.54M
$6.59M – $8.79M
NOI $527,461 @ 7.0% cap · market cap 8.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$39.33M
$34.42M – $45.89M
NOI $2,753,415 @ 7.0% cap · market cap 46.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
20k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
6,802 visits/mo
0.4 miles
Family Dollar
Shops & Services
6,765 visits/mo
0.3 miles
Shell
Shops & Services
5,479 visits/mo
0.5 miles
Public Storage
Shops & Services
1,101 visits/mo
0.5 miles
Demographics for 75043, TX
63,973
Population
23,439
Households
2.7
Avg Household Size
36
Median Age
25%
College-Educated
84%
High-School Grad
14.7 sq mi
ZIP Area
4,352
Density / Sq Mi
$75,454
Median Household Income
$39,062
Median Earnings
$1,467
Median Rent
$253,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Neighborhood retail center totaling 32,781 SF in Garland, Texas, positioned near Audubon Park.
Where is this shopping center located?
The property is located at 565 W Oates Rd Garland, TX.
What is the asking price?
The asking price for this property is $5,959,000.
What are key features of this property?
This property features: 32,781 SF neighborhood retail shopping center in Garland, Texas; Built in 1985; Located near Audubon Park, a major recreational hub with consistent visitor activity throughout the week and weekends
