Corner Office
For Sale
$2,700,000
602 Magic Mile, Arlington, TX 76011
Office property with several businesses on site and parking available for Game Days.
Property Size6,336 SF
Price / SF$426.14
Days on Market1509
Property Features for 602 Magic Mile
General Information
Standard status
Active
Size
6,336 SF
Property subtype
Lots & Acreage / Commercial
Amenities
Office, Office/Warehouse, Other
Public Records
1
Concrete, Rock/Stone, Tilt Wall, Other
Building Details
Year Built
1996
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Realty DPR
(972) 658-8395
Listed By:
Kristy Thornton · License #0702535
(972) 658-8395
Source:
Compass
Added: Jul 15, 2022
Changed: Aug 30
Last Checked: Aug 30 at 11:11PM
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 Keller Williams Realty DPR
Investment Insights
Based on property information with market context.
This 6,336-square-foot office building occupies a corner lot at 602 Magic Mile in Arlington. Constructed in 1996, the property is identified with office and office/warehouse features and includes concrete, rock/stone, and tilt-wall exterior elements.
Several businesses are located on site, while the associated parking lot can be rented for Game Days. The property’s configuration combines office space with dedicated parking uses at a single Arlington address.
Several businesses are located on site, while the associated parking lot can be rented for Game Days. The property’s configuration combines office space with dedicated parking uses at a single Arlington address.
Key Highlights
- 6,336‑square‑foot office building
- Corner‑lot location at 602 Magic Mile, Arlington, TX 76011
- Several businesses on site
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
$98,081
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
3.63%
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%
$1,961,620
$2.0M
Cap Rate 7%
$1,401,157
$1.4M
Cap Rate 9%
$1,089,789
$1.1M
Market Conditions
NOI Build-Up for 6,336 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
$152.1K $24.00/SF
− Vacancy
−$21.3K −$3.36/SF
EGI
$130.8K $20.64/SF
− OpEx
−$32.7K −$5.16/SF
NOI
$98.1K $15.48/SF
Area
Arlington, TX
Vacancy
14.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,961,620
Cap Rate 7%
$1,401,157
Cap Rate 9%
$1,089,789
Alternative Uses
Best Use
Office B
$1.40M
$1.23M – $1.63M
NOI $98,081 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,775 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,073
Businesses Nearby
Explore this area
Business Placement
Demographics for 76011, TX
23,158
Population
11,991
Households
1.9
Avg Household Size
32
Median Age
27%
College-Educated
83%
High-School Grad
8.1 sq mi
ZIP Area
2,859
Density / Sq Mi
$51,910
Median Household Income
$36,580
Median Earnings
$1,266
Median Rent
$218,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office property with several businesses on site and parking available for Game Days.
Where is this office building located?
The property is located at 602 Magic Mile Arlington, TX.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 6,336‑square‑foot office building; Corner‑lot location at 602 Magic Mile, Arlington, TX 76011; Several businesses on site
