Flexible Office-Warehouse
For Sale
$500,000
Pending
589 County Road 3597, Boyd, TX 76023
Adaptable commercial facility combining finished office areas with functional warehouse space and truck accommodation.
Property Size9,000 SF
Days on Market106
Property Features for 589 County Road 3597
General Information
Standard status
Pending
Size
9,000 SF
Property subtype
Commercial
Additional Details
Clear Height
20 ft
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Jeremy Hoffman, Broker
(817) 475-8171
Listed By:
Jeremy Hoffman · License #0634078
Source:
Dfwareahousehunt
Added: May 16
Changed: Aug 28
Last Checked: Aug 25 at 6:06AM
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 Jeremy Hoffman, Broker
Investment Insights
Based on property information with market context.
This flex property combines finished office space with warehouse functionality in a layout designed for business operations requiring both administrative and storage areas. The facility accommodates large trucks and includes oversized roll-up doors for loading and access. Interior clearance includes 20-foot side walls and a 25-foot peak, supporting a range of commercial uses that require substantial vertical space.
Located at 589 County Road 3597 in Boyd, Texas, the property was built in 2026. Its office-and-warehouse configuration provides operational flexibility for an owner-user or an occupant seeking a facility with distinct work areas and industrial functionality.
Located at 589 County Road 3597 in Boyd, Texas, the property was built in 2026. Its office-and-warehouse configuration provides operational flexibility for an owner-user or an occupant seeking a facility with distinct work areas and industrial functionality.
Key Highlights
- Flex property with finished office and warehouse areas
- Accommodates large trucks
- 20‑foot side walls
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
$43,271
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
8.65%
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%
$865,420
$865.4K
Cap Rate 7%
$618,157
$618.2K
Cap Rate 9%
$480,789
$480.8K
Market Conditions
NOI Build-Up for 9,000 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
$72.4K $8.04/SF
− Vacancy
−$5.8K −$0.64/SF
EGI
$66.6K $7.40/SF
− OpEx
−$23.3K −$2.59/SF
NOI
$43.3K $4.81/SF
Area
Wise County, TX
Vacancy
8.00%
Lease Rate
$8.04 /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%
$865,420
Cap Rate 7%
$618,157
Cap Rate 9%
$480,789
Alternative Uses
Best Use
Office B
$2.15M
$1.88M – $2.51M
NOI $150,543 @ 7.0% cap · market cap 30.11%
Second Best
Warehouse
$830.3K
$726.5K – $968.7K
NOI $58,123 @ 7.0% cap · market cap 11.62%
Theoretical Best
Hotel Hospitality
$6.78M
$5.93M – $7.91M
NOI $474,525 @ 7.0% cap · market cap 94.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76023, TX
6,825
Population
2,614
Households
2.6
Avg Household Size
43
Median Age
19%
College-Educated
90%
High-School Grad
53.8 sq mi
ZIP Area
127
Density / Sq Mi
$80,927
Median Household Income
$40,736
Median Earnings
$1,091
Median Rent
$281,800
Median Home Value
Market
Vacancy Rate% for Office 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 - Adaptable commercial facility combining finished office areas with functional warehouse space and truck accommodation.
Where is this flex space located?
The property is located at 589 County Road 3597 Boyd, TX.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Flex property with finished office and warehouse areas; Accommodates large trucks; 20‑foot side walls
