Rehabilitation Center
New
For Sale
$2,200,000
703 E Oates Road, Garland, TX 75043
Two-building property with private rooms, multiple bathrooms, garages, and outdoor recreation space for adaptable operations.
Property Size6,324 SF
Lot Size1.00 Acre
Price / SF$347.88
Days on Market2
Property Features for 703 E Oates Road
General Information
Standard status
Active
Size
6,324 SF
Total Parking Spaces
6
Lot size
1.00 Acre
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$14,082
Amenities
storage shed
pickleball court
Torii-style entrance gate
red gazebo
Building Details
Building Size
6,324 SF
Year Built
2023
Buildings
2
Listing Agency:
Keller Williams Prosper Celina
Listed By:
Cami Hobbs Riley
Source:
Nilesrealtygroup
Added: Sep 4
Last Checked: Sep 4 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 Keller Williams Prosper Celina
Investment Insights
Based on property information with market context.
Located at 703 Oates Road in Garland, Texas, this 2023 property encompasses 6,324 square feet across two separate structures on nearly one acre. The main residence contains approximately 4,884 square feet with 6 bedrooms, 5 bathrooms, ceiling heights ranging from 10 to 16 feet, and an attached 4-car garage. A detached guest house adds approximately 1,440 square feet, 3 bedrooms, 2 bathrooms, and a dedicated 2-car garage.
Across both buildings, the property provides 9 bedrooms and 7 bathrooms, along with a storage shed, pickleball court, red gazebo, and Torii-style entrance gate. Private rooms, separate living quarters, multiple bathrooms, six total garage spaces, and substantial indoor and outdoor areas create a flexible physical layout. Any intended use remains subject to verification of zoning, licensing, occupancy, and applicable governmental requirements.
Across both buildings, the property provides 9 bedrooms and 7 bathrooms, along with a storage shed, pickleball court, red gazebo, and Torii-style entrance gate. Private rooms, separate living quarters, multiple bathrooms, six total garage spaces, and substantial indoor and outdoor areas create a flexible physical layout. Any intended use remains subject to verification of zoning, licensing, occupancy, and applicable governmental requirements.
Key Highlights
- 6,324 total square feet across a main residence and detached guest house
- Main building includes approximately 4,884 square feet, 6 bedrooms, 5 bathrooms, and a 4‑car garage
- Guest house provides approximately 1,440 square feet, 3 bedrooms, 2 bathrooms, and a 2‑car garage
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
$96,163
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
4.37%
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%
$1,923,260
$1.9M
Cap Rate 7%
$1,373,757
$1.4M
Cap Rate 9%
$1,068,478
$1.1M
Market Conditions
NOI Build-Up for 6,324 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
$195.8K $30.96/SF
− Vacancy
−$20.9K −$3.31/SF
EGI
$174.8K $27.65/SF
− OpEx
−$78.7K −$12.44/SF
NOI
$96.2K $15.21/SF
Area
Garland, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,923,260
Cap Rate 7%
$1,373,757
Cap Rate 9%
$1,068,478
Alternative Uses
Best Use
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $96,163 @ 7.0% cap · market cap 4.37%
Second Best
Healthcare Medical
$1.22M
$1.07M – $1.42M
NOI $85,237 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$7.59M
$6.64M – $8.85M
NOI $531,180 @ 7.0% cap · market cap 24.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
Explore this area
Business Placement
Demographics for 75043, TX
63,973
Population
23,439
Households
2.7
Avg Household Size
36
Median Age
25%
College-Educated
84%
High-School Grad
14.7 sq mi
ZIP Area
4,352
Density / Sq Mi
$75,454
Median Household Income
$39,062
Median Earnings
$1,467
Median Rent
$253,300
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Rehabilitation center - Two-building property with private rooms, multiple bathrooms, garages, and outdoor recreation space for adaptable operations.
Where is this rehabilitation center located?
The property is located at 703 E Oates Road Garland, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 6,324 total square feet across a main residence and detached guest house; Main building includes approximately 4,884 square feet, 6 bedrooms, 5 bathrooms, and a 4‑car garage; Guest house provides approximately 1,440 square feet, 3 bedrooms, 2 bathrooms, and a 2‑car garage
