Building Details

Year Built 1960

Construction metal

Listing Agency: Texas Prime Real Estate k***@leasetexas.com Show Phone

Listed By: Paula Hardee · License #0525707 Show Phone

Source: Lonestarluxuryrealty

Added: Aug 15 Changed: Sep 27 Last Checked: Oct 7 at 1:43PM

Report an Issue

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 Texas Prime Real Estate

Investment Insights

Based on property information with market context.

This approximately .79-acre property includes an insulated metal shop measuring approximately 1,200 SF, three roll-up doors, substantial electrical service, an RV parking structure, and additional storage workspace. An existing residential structure is also present. City water and electric service are connected, while a private water well serves the property. An abandoned septic system is located on the second lot.

The property fronts FM 2738, Pearl St., and Walnut St. and is situated just off FM 917. It comprises Lots 13 through 24 in Original Town Lillian, within the Tarrant County ETJ and unincorporated Johnson County. The site includes platted lots with no known deed restrictions identified in the property information.

Key Highlights

• Approximately .79 acres spanning Lots 13 through 24 in Original Town Lillian
• Insulated metal shop with approximately 1,200 SF and three roll up doors
• Frontage on FM 2738, Pearl St., and Walnut St., just off FM 917

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,182

Cap Rate

4.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$223,640 $223.6K

Cap Rate 7%

$159,743 $159.7K

Cap Rate 9%

$124,244 $124.2K

Market Conditions

NOI Build-Up for 1,608 SF

Gross rent

$14.5K $9.00/SF

− Vacancy

−$1.3K −$0.82/SF

EGI

$13.2K $8.18/SF

− OpEx

−$2.0K −$1.23/SF

NOI

$11.2K $6.95/SF

Area

Johnson County, TX

Vacancy

9.10%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$223,640

Cap Rate 7%

$159,743

Cap Rate 9%

$124,244

Alternative Uses

Best Use

Warehouse

$159.7K

$139.8K – $186.4K (±1% cap)

NOI $11,182 @ 7.0% cap · market cap 4.66%

Second Best

Industrial

$118.7K

$103.9K – $138.5K (±1% cap)

NOI $8,308 @ 7.0% cap · market cap 3.46%

Theoretical Best

Multifamily LT 5

$19.27M

$16.87M – $22.49M (±1% cap)

NOI $1,349,217 @ 7.0% cap · market cap 562.17%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Plumbing Service (Bike/Boat/Book/etc) Store Bakery Home Appliance Store Hair Salon Nail 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

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

41

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 76061, TX

192

Population

56

Households

3.4

Avg Household Size

35

Median Age

2.2 sq mi

ZIP Area

87

Density / Sq Mi

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Flex space - Multi-structure property with connected utilities, private well, storage improvements, and flexible commercial-use potential.

Where is this flex space located?

The property is located at 8208 Pearl Street Lillian, TX.

What is the asking price?

The asking price for this property is $240,000.

What are key features of this property?

This property features: Approximately .79 acres spanning Lots 13 through 24 in Original Town Lillian; Insulated metal shop with approximately 1,200 SF and three roll up doors; Frontage on FM 2738, Pearl St., and Walnut St., just off FM 917