Building Details

Year Built 2002

Listing Agency: Keller Williams Realty-FM

Listed By: Ryan Collinsworth · License #0530023 Show Phone

Source: Heritance

Added: Aug 1 Changed: Oct 5 Last Checked: Oct 7 at 1:47PM

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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 / Yr

$131,905

Cap Rate

4.40%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,638,100 $2.6M

Cap Rate 7%

$1,884,357 $1.9M

Cap Rate 9%

$1,465,611 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,125 SF

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 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 (±1% cap)

NOI $131,905 @ 7.0% cap · market cap 4.40%

Second Best

Warehouse

$1.17M

$1.03M – $1.37M (±1% cap)

NOI $82,214 @ 7.0% cap · market cap 2.74%

Theoretical Best

Office A

$2.38M

$2.08M – $2.77M (±1% cap)

NOI $166,280 @ 7.0% cap · market cap 5.54%

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

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Parking Lot & Garage Daycare Center Grocery & Convenience Store (Bike/Boat/Book/etc) Store Pet Grooming Service Tanning Salon

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

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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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