New Construction Flex
For Sale
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6650 Browning Dr Bldg A, North Richland Hills, TX 76180
Six-unit commercial configuration supports multiple occupants within a newly built North Richland Hills property.
Property Size7,800 SF
Price / SF$272
Days on Market142
Property Features for 6650 Browning Dr Bldg A
General Information
Standard status
Active
Size
7,800 SF
Class
A
Property subtype
Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$132,619
Financials
Asking Price
$1,872,000
Cap Rate
6.2%
Gross Income
$117,000
Additional Details
Highway Access
Yes
Building Details
Year Built
2026
Buildings
1
Units
6
Building Size
7,800 SF
Tenancy
Multi
Listing Agency:
The Peak Group
Listed By:
Steve Olson · License #TX 698316
Source:
Crexi
Added: Apr 15
Changed: Aug 31
Last Checked: Aug 31 at 4:20AM
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.
Building A is a 2026-construction flex property containing six industrial/commercial units within 7,800 square feet. Each unit measures 1,300 square feet, creating a consistent multi-suite layout for occupants requiring adaptable commercial space. The building is identified as part of Browning Office Park, a 13-unit campus comprising two buildings.
Located at 6650 Browning Dr in North Richland Hills, the property offers access to highways 820, 35W, and 121. Its multi-tenant design and newly completed construction provide a defined physical configuration without reported deferred maintenance or rehabilitation requirements.
Located at 6650 Browning Dr in North Richland Hills, the property offers access to highways 820, 35W, and 121. Its multi-tenant design and newly completed construction provide a defined physical configuration without reported deferred maintenance or rehabilitation requirements.
Key Highlights
- 2026‑construction flex building with 7,800 square feet
- Six 1,300‑square‑foot industrial/commercial units
- Part of a 13‑unit, two‑building Browning Office Park campus
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
$85,663
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
4.04%
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%
$1,713,260
$1.7M
Cap Rate 7%
$1,223,757
$1.2M
Cap Rate 9%
$951,811
$951.8K
Market Conditions
NOI Build-Up for 7,800 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
$149.8K $19.20/SF
− Vacancy
−$18.0K −$2.30/SF
EGI
$131.8K $16.90/SF
− OpEx
−$46.1K −$5.91/SF
NOI
$85.7K $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%
$1,713,260
Cap Rate 7%
$1,223,757
Cap Rate 9%
$951,811
Alternative Uses
Best Use
Flex RnD
$1.22M
$1.07M – $1.43M
NOI $85,663 @ 7.0% cap · market cap 4.04%
Second Best
Warehouse
$774.9K
$678.0K – $904.0K
NOI $54,240 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $192,067 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
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 - Six-unit commercial configuration supports multiple occupants within a newly built North Richland Hills property.
Where is this flex space located?
The property is located at 6650 Browning Dr Bldg A North Richland Hills, TX.
What is the asking price?
The asking price for this property is $2,121,600.
What are key features of this property?
This property features: 2026‑construction flex building with 7,800 square feet; Six 1,300‑square‑foot industrial/commercial units; Part of a 13‑unit, two‑building Browning Office Park campus
