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615 Johnson Avenue, Burleson, TX 76028
A 2008-built office property offers 4,468 square feet of workspace.
Property Size4,468 SF
Price / SF$1.58
Days on Market6
Property Features for 615 Johnson Avenue
General Information
Standard status
Active
Size
4,468 SF
Property subtype
Office
Additional Details
Property Use
Office
Building Details
Year Built
2008
Listing Agency:
Nation Properties Inc
(817) 548-1352
Listed By:
Mark Nation · License #0597170
(972) 342-0584
Source:
Momentusrealestategroup
Added: Oct 29
Changed: Nov 3
Last Checked: Nov 3 at 8:28AM
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 Nation Properties Inc
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Investment Insights
Based on property information with market context.
The office property at 615 Johnson Avenue in Burleson contains 4,468 square feet and was built in 2008. Its classification as office units identifies the asset as office space within a multi-unit property.
Key Highlights
- 4,468 square feet of office space
- Built in 2008
- 615 Johnson Avenue, Burleson, TX 76028
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,736
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,494,720
$1.5M
Cap Rate 7%
$1,067,657
$1.1M
Cap Rate 9%
$830,400
$830.4K
Market Conditions
NOI Build-Up for 4,468 SF
Gross rent
$137.3K $30.72/SF
− Vacancy
−$37.6K −$8.42/SF
EGI
$99.6K $22.30/SF
− OpEx
−$24.9K −$5.58/SF
NOI
$74.7K $16.73/SF
Area
Johnson County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,494,720
Cap Rate 7%
$1,067,657
Cap Rate 9%
$830,400
Alternative Uses
Best Use
Office B
$1.07M
$934.2K – $1.25M
NOI $74,736 @ 7.0% cap · market cap 1,056.49%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$53.56M
$46.86M – $62.48M
NOI $3,748,945 @ 7.0% cap · market cap 52,996.11%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
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Business Placement
Demographics for 76028, TX
74,023
Population
27,928
Households
2.7
Avg Household Size
38
Median Age
31%
College-Educated
92%
High-School Grad
77.5 sq mi
ZIP Area
955
Density / Sq Mi
$100,125
Median Household Income
$53,464
Median Earnings
$1,691
Median Rent
$294,500
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - A 2008-built office property offers 4,468 square feet of workspace.
Where is this office unit located?
The property is located at 615 Johnson Avenue Burleson, TX.
What are key features of this property?
This property features: 4,468 square feet of office space; Built in 2008; 615 Johnson Avenue, Burleson, TX 76028
