Light Industrial Flex Space with New TPO
For Sale
$1,900,000
613 S Armstrong Avenue, Denison, TX 75020
COMMERCIAL - Denison, TX
Property Size1,500 SF
Lot Size1.05 Acres
Price / SF$128.99
Days on Market27
Property Features for 613 S Armstrong Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial, Residential
Subdivision
Laynes Add
Directions
From Hwy 75 take Spur 503. Exit 598 for TX-91. Use left lane to merge onto TX-91 Texoma Parkway. Property on the left. Sign on the building.
Standard status
Active
APN
378813
Size
14,730 SF
Lot size
1.05 Acres
Taxes and HOA fees
Tax Description
LAYNES ADDITION, 1.0495 acres
Tax Annual Amount
6203
Legal Description
LAYNES ADDITION, 1.0495 acres
Utilities
Sewer type
Public Sewer
Cooling system
Zoned
Water source
Public
Building Details
Year built
1975
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Concrete
Roof type
Synthetic
Listing Agency:
Easy Life Realty
(903) 224-5171
Listed By:
Lisa Hitchcock · License #0611932
(903) 224-5171
Added: Jul 17
Changed: Aug 4
Last Checked: Aug 12 at 11:06AM
MLS# 21233205
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.
Flex space at 613 S. Armstrong Avenue is zoned light industrial and built with concrete construction and concrete flooring. The property includes a synthetic roof described as TPO with poly-iso insulation, with a newly constructed 1,500-square-foot storefront or office space. The site also features an expansive storage yard and a flexible layout for a range of industrial uses including manufacturing, distribution, storage, and service operations.
The property sits on highly traveled Hwy 91 and Armstrong Avenue and offers quick access to Hwy 75, Hwy 81, and downtown Denison. Utilities are available through public water and public sewer, and cooling is described as zoned.
The offering includes two additional lots across the alley, each approximately 0.344 acres, supporting potential expansion alongside the main site. The property is listed with a year built of 1975.
The property sits on highly traveled Hwy 91 and Armstrong Avenue and offers quick access to Hwy 75, Hwy 81, and downtown Denison. Utilities are available through public water and public sewer, and cooling is described as zoned.
The offering includes two additional lots across the alley, each approximately 0.344 acres, supporting potential expansion alongside the main site. The property is listed with a year built of 1975.
Key Highlights
- Zoned light industrial flex space with flexible storage yard
- New synthetic TPO roof with poly‑iso insulation
- New 1,500‑square‑foot storefront or office space
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
$93,177
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
4.90%
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%
$1,863,540
$1.9M
Cap Rate 7%
$1,331,100
$1.3M
Cap Rate 9%
$1,035,300
$1.0M
Market Conditions
NOI Build-Up for 14,730 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
$120.2K $8.16/SF
− Vacancy
−$10.6K −$0.72/SF
EGI
$109.6K $7.44/SF
− OpEx
−$16.4K −$1.12/SF
NOI
$93.2K $6.33/SF
Area
Grayson County, TX
Vacancy
8.80%
Lease Rate
$8.16 /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%
$1,863,540
Cap Rate 7%
$1,331,100
Cap Rate 9%
$1,035,300
Alternative Uses
Best Use
Warehouse
$1.33M
$1.16M – $1.55M
NOI $93,177 @ 7.0% cap · market cap 4.90%
Second Best
Industrial
$1.10M
$959.2K – $1.28M
NOI $76,734 @ 7.0% cap · market cap 4.04%
Theoretical Best
Hotel Hospitality
$7.56M
$6.61M – $8.82M
NOI $528,954 @ 7.0% cap · market cap 27.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75020, TX
23,782
Population
10,802
Households
2.2
Avg Household Size
42
Median Age
19%
College-Educated
90%
High-School Grad
61.0 sq mi
ZIP Area
390
Density / Sq Mi
$66,308
Median Household Income
$38,656
Median Earnings
$1,136
Median Rent
$187,200
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?
Flex space - Flex space zoned light industrial with a synthetic TPO roof and public utilities, plus a new storefront or office addition.
Where is this flex space located?
The property is located at 613 S Armstrong Avenue Denison, TX.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Zoned light industrial flex space with flexible storage yard; New synthetic TPO roof with poly‑iso insulation; New 1,500‑square‑foot storefront or office space
