Building Details

Building Size 6,324 SF

Year Built 2023

Buildings 2

Listing Agency: Keller Williams Prosper Celina

Listed By: Cami Hobbs Riley · License #0459845 Show Phone

Source: Nilesrealtygroup

Added: Sep 4 Changed: Oct 16 Last Checked: Oct 19 at 1:10PM

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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

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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.

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 / Yr

$96,163

Cap Rate

4.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,923,260 $1.9M

Cap Rate 7%

$1,373,757 $1.4M

Cap Rate 9%

$1,068,478 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,324 SF

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 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 (±1% cap)

NOI $96,163 @ 7.0% cap · market cap 4.37%

Second Best

Healthcare Medical

$1.22M

$1.07M – $1.42M (±1% cap)

NOI $85,237 @ 7.0% cap · market cap 3.87%

Theoretical Best

Office A

$7.59M

$6.64M – $8.85M (±1% cap)

NOI $531,180 @ 7.0% cap · market cap 24.14%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Rehabilitation centers

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Big Box & Wholesale Store Gym & Fitness Center HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

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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