Rehabilitation Center Property with Guest
New
For Sale
$2,200,000
703 E Oates Road, Garland, TX 75043
CommercialSale, Garland, TX
Property Size6,324 SF
Lot Size0.90 Acres
Price / SF$347.88
Days on Market1
Property Features for 703 E Oates Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
3GSG05
Subdivision
Rose Hill Acreage Homesites
Lot features
Few Trees
Directions
GPS
Standard status
Active
APN
601795000038B0000
Size
6,324 SF
Lot size
0.90 Acres
Taxes and HOA fees
Tax Description
ROSE HILL ACREAGE HOMESITES REP LT 38A ACS 0.
Tax Annual Amount
14082
Legal Description
ROSE HILL ACREAGE HOMESITES REP LT 38A ACS 0.
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
storage shed
pickleball court
Torii-style entrance gate
red gazebo
Building Details
Year built
2023
Floors in Building
1
Number of units
2
Flooring type
Carpet, Laminate, Hardwood
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Prosper Celina · Keller Williams Realty
(972) 382-8882
Listed By:
Cami Hobbs Riley · License #0459845
(940) 391-1614
Added: Sep 2
Last Checked: Sep 2 at 6:06PM
MLS# 21370949
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.
This 2023 brick property includes two separate buildings totaling 6,324 square feet on 0.901 acres. The primary structure contains approximately 4,884 square feet, six bedrooms, five bathrooms, ceiling heights ranging from 10 to 16 feet, and an attached four-car garage. A detached guest house adds approximately 1,440 square feet, three bedrooms, two bathrooms, and a two-car garage. Across both buildings, the property offers nine bedrooms and seven bathrooms, along with carpet, laminate, and hardwood flooring, central heating and cooling, public water, and public sewer.
Outdoor improvements include a storage shed, pickleball court, red gazebo, and Torii-style entrance gate. The separate living quarters, room count, garage capacity, and recreational features support consideration for a rehabilitation center, recovery facility, residential treatment operation, group living environment, or assisted care concept. Any proposed use remains subject to verification of zoning, licensing, occupancy, and governmental requirements.
Outdoor improvements include a storage shed, pickleball court, red gazebo, and Torii-style entrance gate. The separate living quarters, room count, garage capacity, and recreational features support consideration for a rehabilitation center, recovery facility, residential treatment operation, group living environment, or assisted care concept. Any proposed use remains subject to verification of zoning, licensing, occupancy, and governmental requirements.
Key Highlights
- 6,324 square feet across two separate buildings on 0.901 acres
- Main building offers approximately 4,884 square feet, 6 bedrooms, 5 bathrooms, and a 4‑car garage
- Detached guest house includes 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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
470
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
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Frequently Asked Questions
What type of property is this?
Rehabilitation center - Two separate buildings provide private rooms, multiple bathrooms, and flexible space for rehabilitation-related operations, subject to required approvals.
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 square feet across two separate buildings on 0.901 acres; Main building offers approximately 4,884 square feet, 6 bedrooms, 5 bathrooms, and a 4‑car garage; Detached guest house includes approximately 1,440 square feet, 3 bedrooms, 2 bathrooms, and a 2‑car garage
