Flex Space with Grade-Level
For Sale
$1,995,000
600 N Stemmons Freeway, Lewisville, TX 75067
CommercialSale, Lewisville, TX
Property Size7,040 SF
Lot Size0.33 Acres
Price / SF$283.38
Days on Market70
Property Features for 600 N Stemmons Freeway
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
GB - General Business
Subdivision
Hivue Add
Directions
Please Follow GPS
Standard status
Active
APN
R16097
Lot size
0.33 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1999
Floors in Building
1
Number of units
1
Flooring type
Tile, Concrete, Vinyl, Combination
Building materials
AluminumSiding, Concrete, Stucco, WoodSiding
Roof type
Composition
Listing Agency:
KARE Investment Sales & Leasing
Listed By:
Karan Aulakh , CCIM
(469) 471-6413
Added: Jul 12
Changed: Sep 17
Last Checked: Sep 19 at 9:06AM
MLS# 21307881
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.
Built in 1999, this flex property combines office and warehouse components within a commercial building on approximately 0.332 acres. The warehouse area provides 20-foot clear heights and a 14' x 12' grade-level roll-up door. Central heating and cooling support the building, which includes concrete, vinyl, combination, and tile flooring along with aluminum siding, concrete, stucco, and wood siding construction materials.
The property is positioned along I-35E, also known as Stemmons Freeway, in Lewisville, Texas. The corridor carries approximately 155,939 vehicles per day, and the site offers access to major DFW transportation routes. Zoning is GB, or General Business, with public water and public sewer service.
The property is positioned along I-35E, also known as Stemmons Freeway, in Lewisville, Texas. The corridor carries approximately 155,939 vehicles per day, and the site offers access to major DFW transportation routes. Zoning is GB, or General Business, with public water and public sewer service.
Key Highlights
- Flex property built in 1999 on approximately 0.332 acres
- Located along I‑35E (Stemmons Freeway) in Lewisville
- Approximately 155,939 vehicles per day along the corridor
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
$113,158
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
5.67%
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%
$2,263,160
$2.3M
Cap Rate 7%
$1,616,543
$1.6M
Cap Rate 9%
$1,257,311
$1.3M
Market Conditions
NOI Build-Up for 7,040 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
$169.8K $24.12/SF
− Vacancy
−$8.2K −$1.16/SF
EGI
$161.7K $22.96/SF
− OpEx
−$48.5K −$6.89/SF
NOI
$113.2K $16.07/SF
Area
Lewisville, TX
Vacancy
4.80%
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%
$2,263,160
Cap Rate 7%
$1,616,543
Cap Rate 9%
$1,257,311
Alternative Uses
Best Use
Retail
$1.62M
$1.41M – $1.89M
NOI $113,158 @ 7.0% cap · market cap 5.67%
Second Best
Warehouse
$1.16M
$1.02M – $1.35M
NOI $81,233 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$2.35M
$2.05M – $2.74M
NOI $164,297 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
155,939 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,146
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75067, TX
68,734
Population
28,990
Households
2.4
Avg Household Size
34
Median Age
33%
College-Educated
87%
High-School Grad
13.5 sq mi
ZIP Area
5,091
Density / Sq Mi
$76,630
Median Household Income
$45,448
Median Earnings
$1,506
Median Rent
$321,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - GB-zoned flex property along I-35E with warehouse capability and access to major DFW transportation corridors.
Where is this flex space located?
The property is located at 600 N Stemmons Freeway Lewisville, TX.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Flex property built in 1999 on approximately 0.332 acres; Located along I‑35E (Stemmons Freeway) in Lewisville; Approximately 155,939 vehicles per day along the corridor
