Flex Space with Two Bay
For Sale
$349,000
700 S Interstate Highway 45, Ennis, TX 75119
COMMERCIAL - Ennis, TX
Property Size2,540 SF
Lot Size0.21 Acres
Price / SF$137.40
Days on Market59
Property Features for 700 S Interstate Highway 45
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial Building Industrially zoned
Parking features
Covered, Paved or Surfaced, Parking Lot, Driveway, Garage, On Street, Gated
Security features
Security
Subdivision
Jackson
Lot features
Landscaped
Directions
Steps away from BUC-EES! Conveniently located, Directly off I-45, Take Exit 251A, stay on the service road, and the property will be easily visible on your right. Prime location with excellent accessibility & visibility from I-45, Right Below the water tower!
Standard status
Active
APN
215670
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
578 JACKSON 0.205 ACRES
Tax Annual Amount
8350
Legal Description
578 JACKSON 0.205 ACRES
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1986
Floors in Building
1
Number of units
1
Flooring type
Hardwood, Concrete, Laminate
Building materials
AluminumSiding, MetalSiding, Concrete, SteelSiding, WoodSiding
Roof type
Metal
Listing Agency:
NextHome Property Advisors
(972) 246-8297
Listed By:
Dillon Newman · License #822700,PersonLicenseNumber
(972) 246-8297
Added: Jun 25
Changed: Aug 5
Last Checked: Aug 22 at 3:06AM
MLS# 21175114
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 opportunity featuring a 2,540 sq ft well-built shop, workshop, and warehouse with two bay doors, set on approximately 0.205 acres. The property includes a fully finished office space, two bathrooms, and spacious work areas with durable concrete flooring and versatile layout options. Central heating and central air support year-round operations, with robust metal construction and a metal roof.
Located at 700 S Interstate Highway 45 in Ennis, Texas, the site offers high visibility with immediate exposure to daily commuter traffic and is described as sitting steps from the Buc-ee’s travel center. The seller estimates 7,800+ vehicles passing daily. Parking is provided via a paved/surfaced parking lot, driveway, on-street parking, garage, gated access, and covered parking.
Built in 1986, the property’s exterior materials include aluminum siding, metal siding, steel siding, concrete, and wood siding. Utilities include a septic tank, and flooring includes hardwood, concrete, and laminate.
Located at 700 S Interstate Highway 45 in Ennis, Texas, the site offers high visibility with immediate exposure to daily commuter traffic and is described as sitting steps from the Buc-ee’s travel center. The seller estimates 7,800+ vehicles passing daily. Parking is provided via a paved/surfaced parking lot, driveway, on-street parking, garage, gated access, and covered parking.
Built in 1986, the property’s exterior materials include aluminum siding, metal siding, steel siding, concrete, and wood siding. Utilities include a septic tank, and flooring includes hardwood, concrete, and laminate.
Key Highlights
- Steps from Buc‑ee’s travel center with estimated 7,800+ vehicles passing daily
- 2,540 sq ft shop/workshop/warehouse with two bay doors
- Fully finished office space plus 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
Warehouse
$252.3K
$220.8K – $294.4K
NOI $17,663 @ 7.0% cap · market cap 5.06%
Second Best
Industrial
$188.1K
$164.6K – $219.5K
NOI $13,167 @ 7.0% cap · market cap 3.77%
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
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
371
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.
Similar Off Market Nearby
- Catered Delights LLC — 307 E Lampasas St, Ennis, TX 75119
Frequently Asked Questions
What type of property is this?
Flex space - Flex shop/warehouse with a finished office and central HVAC, next to Buc-ee’s, featuring two bay doors.
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: Steps from Buc‑ee’s travel center with estimated 7,800+ vehicles passing daily; 2,540 sq ft shop/workshop/warehouse with two bay doors; Fully finished office space plus two bathrooms
