Versatile Office/Service
For Sale
$1,800,000
8624 Davis, North Richland Hills, TX 76182
Impeccably maintained commercial building with a versatile interior currently operating as a salon.
Property Size4,799 SF
Price / SF$375.08
Days on Market58
Property Features for 8624 Davis
General Information
Standard status
Active
Size
4,799 SF
Property subtype
Retail
Amenities
Electric
3
Level
Curbs Walk, Level.
Building Details
Year Built
2016
Listing Agency:
Coldwell Banker Realty
(214) 828-4300
Listed By:
Greg Cagle · License #0253535
(817) 308-2592
Source:
Xome
Added: Jul 10
Changed: Sep 1
Last Checked: Sep 5 at 5:48AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Impeccably maintained commercial building offering 4,799 SF of move-in ready space. The property is currently operating as a high-end salon and includes a versatile layout that can be repurposed for a range of professional uses, including medical offices, a daycare, or other professional services.
The building is positioned at the crossroads of Keller, Southlake, Colleyville, and North Richland Hills, making it well-suited for investors and operators seeking flexible space in a high-demand area.
Designed to support a modern, professional environment, the offering combines turnkey readiness with an adaptable interior plan intended to accommodate different service-focused business needs.
The building is positioned at the crossroads of Keller, Southlake, Colleyville, and North Richland Hills, making it well-suited for investors and operators seeking flexible space in a high-demand area.
Designed to support a modern, professional environment, the offering combines turnkey readiness with an adaptable interior plan intended to accommodate different service-focused business needs.
Key Highlights
- 4,799 SF commercial building built in 2016
- Currently operating as a high‑end salon with a versatile interior layout that can be repurposed
- Move‑in ready for a similar business
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
$82,927
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
4.61%
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%
$1,658,540
$1.7M
Cap Rate 7%
$1,184,671
$1.2M
Cap Rate 9%
$921,411
$921.4K
Market Conditions
NOI Build-Up for 4,799 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
$147.4K $30.72/SF
− Vacancy
−$36.9K −$7.68/SF
EGI
$110.6K $23.04/SF
− OpEx
−$27.6K −$5.76/SF
NOI
$82.9K $17.28/SF
Area
Tarrant County, TX
Vacancy
25.00%
Lease Rate
$30.72 /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%
$1,658,540
Cap Rate 7%
$1,184,671
Cap Rate 9%
$921,411
Alternative Uses
Best Use
Office B
$1.18M
$1.04M – $1.38M
NOI $82,927 @ 7.0% cap · market cap 4.61%
Second Best
Healthcare Medical
$1.17M
$1.03M – $1.37M
NOI $82,236 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,171 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
Explore this area
Business Placement
Demographics for 76182, TX
31,117
Population
11,845
Households
2.6
Avg Household Size
43
Median Age
40%
College-Educated
95%
High-School Grad
8.7 sq mi
ZIP Area
3,577
Density / Sq Mi
$119,722
Median Household Income
$60,589
Median Earnings
$1,821
Median Rent
$364,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Impeccably maintained commercial building with a versatile interior currently operating as a salon.
Where is this office units located?
The property is located at 8624 Davis North Richland Hills, TX.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 4,799 SF commercial building built in 2016; Currently operating as a high‑end salon with a versatile interior layout that can be repurposed; Move‑in ready for a similar business
