New Construction Flex Space
For Sale
Contact for pricing
6650 Browning Dr, North Richland Hills, TX 76180
Brand-new commercial unit within a two-building flex campus in North Richland Hills.
Property Size1,300 SF
Price / SF$240
Days on Market138
Property Features for 6650 Browning Dr
General Information
Standard status
Active
Size
1,300 SF
Class
A
Property subtype
Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$19,501
Financials
Asking Price
$312,000
Cap Rate
6.3%
Gross Income
$19,500
Building Details
Year Built
2026
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
The Peak Group
Listed By:
Steve Olson · License #TX 698316
Source:
Crexi
Added: Apr 15
Changed: Aug 30
Last Checked: Aug 30 at 1:59AM
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 The Peak Group
Investment Insights
Based on property information with market context.
This for-sale flex space unit contains 1,300 square feet and was completed as part of the 2026 construction program. The property is located at 6650 Browning Dr in North Richland Hills, Texas, within Browning Office Park, a 13-unit campus arranged across two buildings.
The asset is positioned in the DFW Metroplex and carries a stated 6.3% going-in cap rate. Its new-construction status limits near-term deferred maintenance considerations, while the campus format provides a defined commercial setting for the individual unit.
The asset is positioned in the DFW Metroplex and carries a stated 6.3% going-in cap rate. Its new-construction status limits near-term deferred maintenance considerations, while the campus format provides a defined commercial setting for the individual unit.
Key Highlights
- 1,300‑square‑foot flex space unit
- 2026 construction
- Browning Office Park includes 13 units across two buildings
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
$14,277
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
4.58%
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%
$285,540
$285.5K
Cap Rate 7%
$203,957
$204.0K
Cap Rate 9%
$158,633
$158.6K
Market Conditions
NOI Build-Up for 1,300 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
$25.0K $19.20/SF
− Vacancy
−$3.0K −$2.30/SF
EGI
$22.0K $16.90/SF
− OpEx
−$7.7K −$5.91/SF
NOI
$14.3K $10.98/SF
Area
Tarrant County, TX
Vacancy
12.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$285,540
Cap Rate 7%
$203,957
Cap Rate 9%
$158,633
Alternative Uses
Best Use
Flex RnD
$204.0K
$178.5K – $238.0K
NOI $14,277 @ 7.0% cap · market cap 4.58%
Second Best
Industrial
$104.7K
$91.6K – $122.2K
NOI $7,330 @ 7.0% cap · market cap 2.35%
Theoretical Best
Office A
$457.3K
$400.1K – $533.5K
NOI $32,011 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76180, TX
37,087
Population
16,138
Households
2.3
Avg Household Size
37
Median Age
33%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
3,988
Density / Sq Mi
$78,688
Median Household Income
$42,984
Median Earnings
$1,553
Median Rent
$286,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Brand-new commercial unit within a two-building flex campus in North Richland Hills.
Where is this flex space located?
The property is located at 6650 Browning Dr North Richland Hills, TX.
What is the asking price?
The asking price for this property is $312,000.
What are key features of this property?
This property features: 1,300‑square‑foot flex space unit; 2026 construction; Browning Office Park includes 13 units across two buildings
