Building Details

Year Built 1960

Construction metal

Listing Agency: Texas Prime Real Estate r***@lonestarluxuryrealty.com Show Phone

Listed By: Rene Jensen · License #0720823 Show Phone

Source: Lonestarluxuryrealty

Added: Aug 15 Changed: Aug 23 Last Checked: Aug 23 at 8:06AM

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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 = 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

$11,182

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

3.99%

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%

$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 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

$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 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%

$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 3.99%

Second Best

Industrial

$118.7K

$103.9K – $138.5K (±1% cap)

NOI $8,308 @ 7.0% cap · market cap 2.97%

Theoretical Best

Multifamily LT 5

$19.27M

$16.87M – $22.49M (±1% cap)

NOI $1,349,217 @ 7.0% cap · market cap 481.86%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Storage Facility Bakery Home Appliance Store Hair Salon Plumbing 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.

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

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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 $280,000.

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