Industrial Flex
For Sale
$2,999,959
729 N Cowan Ave, Lewisville, TX 75057
LI zoning, substantial yard area, and a separately leased office component support flexible industrial operations.
Property Size7,125 SF
Lot Size2.12 Acres
Price / SF$421.05
Days on Market39
Property Features for 729 N Cowan Ave
General Information
Standard status
Active
Size
7,125 SF
Lot size
2.12 Acres
Zoning
Light Industrial (LI)
Warehouse & Industrial
Clear Height
22 ft
Warehouse Space
7,200 SF
Office Build-Out
1,330 SF
Three-Phase Power
Yes
Additional Details
Utilities to Site
Yes
Building Details
Year Built
2002
Listing Agency:
Keller Williams Realty-FM
Listed By:
Ryan Collinsworth · License #0530023
(972) 874-1905
Source:
Heritance
Added: Aug 1
Changed: Sep 8
Last Checked: Sep 8 at 3:40AM
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 Realty-FM
Investment Insights
Based on property information with market context.
This Lewisville industrial property occupies 2.12 acres and includes a warehouse facility with 22-foot clear heights, a 14-foot rolling door height, 3-phase electrical service, and more than six grade-level overhead doors. The improvements are suited to manufacturing, warehousing, fabrication, fleet operations, and distribution uses identified for the property. A separate 1,330-square-foot office building is currently leased, while the warehouse can accommodate owner occupancy or separate leasing. The property is zoned Light Industrial (LI) and includes multiple parcels. An additional 0.60 acres is available if needed.
Key Highlights
- 2.12‑acre industrial property in Lewisville, Texas
- Light Industrial (LI) zoning
- Warehouse with 22‑foot clear heights
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
$131,905
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
4.40%
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%
$2,638,100
$2.6M
Cap Rate 7%
$1,884,357
$1.9M
Cap Rate 9%
$1,465,611
$1.5M
Market Conditions
NOI Build-Up for 7,125 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
$235.1K $33.00/SF
− Vacancy
−$59.3K −$8.32/SF
EGI
$175.9K $24.68/SF
− OpEx
−$44.0K −$6.17/SF
NOI
$131.9K $18.51/SF
Area
Lewisville, TX
Vacancy
25.20%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,638,100
Cap Rate 7%
$1,884,357
Cap Rate 9%
$1,465,611
Alternative Uses
Best Use
Office B
$1.88M
$1.65M – $2.20M
NOI $131,905 @ 7.0% cap · market cap 4.40%
Second Best
Warehouse
$1.17M
$1.03M – $1.37M
NOI $82,214 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$2.38M
$2.08M – $2.77M
NOI $166,280 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,448
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 75057, TX
16,001
Population
7,171
Households
2.2
Avg Household Size
31
Median Age
29%
College-Educated
83%
High-School Grad
13.3 sq mi
ZIP Area
1,203
Density / Sq Mi
$76,128
Median Household Income
$43,253
Median Earnings
$1,589
Median Rent
$208,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Fat Cow BBQ — 850 Valley Ridge Blvd #128, Lewisville, TX 75077
- Heads or Tails Cajun Crawfish — 1550 N Kealy Ave Building 4 Suite A, Lewisville, TX 75057
Frequently Asked Questions
What type of property is this?
Flex space - LI zoning, substantial yard area, and a separately leased office component support flexible industrial operations.
Where is this flex space located?
The property is located at 729 N Cowan Ave Lewisville, TX.
What is the asking price?
The asking price for this property is $2,999,959.
What are key features of this property?
This property features: 2.12‑acre industrial property in Lewisville, Texas; Light Industrial (LI) zoning; Warehouse with 22‑foot clear heights
