Mixed-Use Property with Detached
For Sale
$665,000
601 Houston School Road, Red Oak, TX 75154
Corner-lot property with commercial and residential zoning, multiple structures, and access from the Loop 9 frontage road.
Property Size4,461 SF
Days on Market48
Property Features for 601 Houston School Road
General Information
Standard status
Active
Size
4,461 SF
Property subtype
Business
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Opportunity Zone
Yes
Warehouse Space
3,076 SF
Taxes and HOA fees
Annual Taxes
$3,161
Building Details
Building Size
4,461 SF
Year Built
1989
Listing Agency:
Relo Radar
Listed By:
Josh Mills · License #0523527
(817) 774-9077
Source:
Nilesrealtygroup
Added: Aug 30
Changed: Oct 10
Last Checked: Oct 15 at 5:49AM
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 Relo Radar
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Investment Insights
Based on property information with market context.
This mixed-use property includes a 1,785-square-foot residential home built in 1989, a detached 20-by-21 structure with a kitchenette, and a metal garage-shop with a second floor. The additional structures provide office, studio, inventory storage, and covered storage or parking areas. A 12-by-50 covered section sits behind a metal fence.
The property occupies a corner lot with access from the Loop 9 frontage road and is zoned for both commercial and residential purposes. It is located within a designated Opportunity Zone and directly across from a new 172-acre data center. The property is currently used as a residence and includes improvements that can support conversion to office or other commercial uses.
The property occupies a corner lot with access from the Loop 9 frontage road and is zoned for both commercial and residential purposes. It is located within a designated Opportunity Zone and directly across from a new 172-acre data center. The property is currently used as a residence and includes improvements that can support conversion to office or other commercial uses.
Key Highlights
- 1,785‑square‑foot residential home built in 1989
- 20x21 detached structure with kitchenette
- Metal garage‑shop includes a second floor for inventory storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,190
Cap Rate
7.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,023,800
$1.0M
Cap Rate 7%
$731,286
$731.3K
Cap Rate 9%
$568,778
$568.8K
Market Conditions
NOI Build-Up for 4,461 SF
Gross rent
$96.4K $21.60/SF
− Vacancy
−$14.5K −$3.24/SF
EGI
$81.9K $18.36/SF
− OpEx
−$30.7K −$6.89/SF
NOI
$51.2K $11.48/SF
Area
Ellis County, TX
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,023,800
Cap Rate 7%
$731,286
Cap Rate 9%
$568,778
Alternative Uses
Best Use
Office B
$1.07M
$932.7K – $1.24M
NOI $74,619 @ 7.0% cap · market cap 11.22%
Second Best
Mixed Use
$731.3K
$639.9K – $853.2K
NOI $51,190 @ 7.0% cap · market cap 7.70%
Theoretical Best
Multifamily LT 5
$48.68M
$42.59M – $56.79M
NOI $3,407,380 @ 7.0% cap · market cap 512.39%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 75154, TX
45,894
Population
17,170
Households
2.7
Avg Household Size
36
Median Age
31%
College-Educated
88%
High-School Grad
47.8 sq mi
ZIP Area
960
Density / Sq Mi
$96,150
Median Household Income
$48,112
Median Earnings
$1,446
Median Rent
$296,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner-lot property with commercial and residential zoning, multiple structures, and access from the Loop 9 frontage road.
Where is this mixed-use property located?
The property is located at 601 Houston School Road Red Oak, TX.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: 1,785‑square‑foot residential home built in 1989; 20x21 detached structure with kitchenette; Metal garage‑shop includes a second floor for inventory storage
