Shallow-Bay Warehouse
For Sale
Contact for pricing
601 N 1st St, Garland, TX 75040
Vacant industrial property with adaptable space for one user or multiple occupants.
Property Size17,165 SF
Price / SF$150.01
Days on Market161
Property Features for 601 N 1st St
General Information
Standard status
Active
Size
17,165 SF
Property subtype
Industrial
Investment Type
Owner/User
Building Details
Year Built
1968
Buildings
1
Listing Agency:
STRIVE Commercial Real Estate Advisors
Listed By:
Jennifer Pierson · License #424317-B
Source:
Crexi
Added: Mar 25
Changed: Aug 30
Last Checked: Sep 1 at 7:52AM
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 STRIVE Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
This vacant warehouse property contains 17,165 square feet on 1.41 acres and was built in 1968. The shallow-bay configuration can accommodate either a single occupant or multiple tenants. Warehouse functionality includes 14-foot clear height, one dock, and two grade-level doors.
The property is located at 601 North 1st Street in Garland, Texas, with access to Highway 78. The surrounding 10-mile area has a population exceeding 1.1 million, while the submarket reports 93% occupancy. The site’s existing loading configuration and flexible layout support evaluation by an owner-user or an investor seeking industrial space.
The property is located at 601 North 1st Street in Garland, Texas, with access to Highway 78. The surrounding 10-mile area has a population exceeding 1.1 million, while the submarket reports 93% occupancy. The site’s existing loading configuration and flexible layout support evaluation by an owner-user or an investor seeking industrial space.
Key Highlights
- 17,165 SF industrial warehouse on 1.41 acres
- 14' clear height with 1 dock and 2 grade‑level doors
- Flexible layout for a single user or multiple tenants
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
$131,514
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
5.11%
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%
$2,630,280
$2.6M
Cap Rate 7%
$1,878,771
$1.9M
Cap Rate 9%
$1,461,267
$1.5M
Market Conditions
NOI Build-Up for 17,165 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
$171.0K $9.96/SF
− Vacancy
−$16.2K −$0.95/SF
EGI
$154.7K $9.01/SF
− OpEx
−$23.2K −$1.35/SF
NOI
$131.5K $7.66/SF
Area
Garland, TX
Vacancy
9.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
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%
$2,630,280
Cap Rate 7%
$1,878,771
Cap Rate 9%
$1,461,267
Alternative Uses
Best Use
Warehouse
$1.88M
$1.64M – $2.19M
NOI $131,514 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$20.60M
$18.02M – $24.03M
NOI $1,441,761 @ 7.0% cap · market cap 55.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,235
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75040, TX
64,035
Population
21,629
Households
3
Avg Household Size
36
Median Age
23%
College-Educated
77%
High-School Grad
15.7 sq mi
ZIP Area
4,079
Density / Sq Mi
$73,537
Median Household Income
$39,019
Median Earnings
$1,670
Median Rent
$245,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Vacant industrial property with adaptable space for one user or multiple occupants.
Where is this warehouse located?
The property is located at 601 N 1st St Garland, TX.
What is the asking price?
The asking price for this property is $2,575,000.
What are key features of this property?
This property features: 17,165 SF industrial warehouse on 1.41 acres; 14' clear height with 1 dock and 2 grade‑level doors; Flexible layout for a single user or multiple tenants
