Flex Space with
For Sale
$349,000
700 S Interstate Highway 45, Ennis, TX 75119
Metal commercial building with finished office space, two bathrooms, central heating and cooling, and adaptable work areas.
Property Size2,540 SF
Lot Size0.25 Acres
Price / SF$137.40
Days on Market258
Property Features for 700 S Interstate Highway 45
General Information
Standard status
Active
Size
2,540 SF
Lot size
0.25 Acres
Property subtype
Commercial
Site & Location
Traffic Count
7,800 vehicles/day
Highway Access
Yes
Road Access
Yes
Amenities
finished office
bathrooms
central HVAC
concrete flooring
bay doors
Building Details
Year Built
1986
Buildings
1
Building Size
2,540 SF
Construction
metal
Listing Agency:
NextHome Property Advisors
(972) 679-5886
Listed By:
Dillon Newman · License #822700,PersonLicenseNumber
Source:
Dfwareahousehunt
Added: Dec 14, 2025
Changed: Aug 28
Last Checked: Aug 28 at 12:20PM
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 NextHome Property Advisors
Investment Insights
Based on property information with market context.
This flex property includes a 2,540-square-foot metal building on approximately 0.25 acres. The layout combines a workshop and warehouse area with durable concrete flooring, a finished office, two bay doors, and two bathrooms. Central heating and cooling support year-round operations.
Located at 700 S Interstate Highway 45, the property sits directly off I-45 and next to the Buc-ee’s travel center. The site has an estimated 7,800+ vehicles passing daily, providing substantial exposure along the corridor. The building’s configuration supports a range of commercial operations, including automotive service, fabrication, storage, office-showroom use, and contractor activities.
Located at 700 S Interstate Highway 45, the property sits directly off I-45 and next to the Buc-ee’s travel center. The site has an estimated 7,800+ vehicles passing daily, providing substantial exposure along the corridor. The building’s configuration supports a range of commercial operations, including automotive service, fabrication, storage, office-showroom use, and contractor activities.
Key Highlights
- 2,540 sq ft shop and workshop warehouse
- Approximately 0.25 acres with frontage along S Interstate Highway 45
- Two bay doors, finished office, and two bathrooms
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
$17,663
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
5.06%
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%
$353,260
$353.3K
Cap Rate 7%
$252,329
$252.3K
Cap Rate 9%
$196,256
$196.3K
Market Conditions
NOI Build-Up for 2,540 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
$22.9K $9.00/SF
− Vacancy
−$2.1K −$0.82/SF
EGI
$20.8K $8.18/SF
− OpEx
−$3.1K −$1.23/SF
NOI
$17.7K $6.95/SF
Area
Ellis County, TX
Vacancy
9.10%
Lease Rate
$9.00 /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%
$353,260
Cap Rate 7%
$252,329
Cap Rate 9%
$196,256
Alternative Uses
Best Use
Retail
$602.3K
$527.0K – $702.7K
NOI $42,160 @ 7.0% cap · market cap 12.08%
Second Best
Warehouse
$252.3K
$220.8K – $294.4K
NOI $17,663 @ 7.0% cap · market cap 5.06%
Theoretical Best
Multifamily LT 5
$27.72M
$24.25M – $32.33M
NOI $1,940,091 @ 7.0% cap · market cap 555.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7,800 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75119, TX
28,973
Population
11,738
Households
2.5
Avg Household Size
35
Median Age
20%
College-Educated
80%
High-School Grad
264.2 sq mi
ZIP Area
110
Density / Sq Mi
$76,983
Median Household Income
$41,861
Median Earnings
$1,230
Median Rent
$238,400
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.
Frequently Asked Questions
What type of property is this?
Flex space - Metal commercial building with finished office space, two bathrooms, central heating and cooling, and adaptable work areas.
Where is this flex space located?
The property is located at 700 S Interstate Highway 45 Ennis, TX.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 2,540 sq ft shop and workshop warehouse; Approximately 0.25 acres with frontage along S Interstate Highway 45; Two bay doors, finished office, and two bathrooms
