Corner Flex Space with
New
For Sale
$599,000
8916 Wesley Street, Greenville, TX 75402
Commercial zoning and a corner position support office, showroom, and warehouse operations.
Property Size3,377 SF
Price / SF$177.38
Days on Market2
Property Features for 8916 Wesley Street
General Information
Standard status
Active
Size
3,377 SF
Property subtype
Commercial
Zoning
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
3,377 SF
Year Built
1988
Buildings
1
Units
1
Listing Agency:
Bradford Elite Real Estate LLC
(469) 647-1229
Listed By:
Deya Chamberlain · License #0686613
(469) 647-1229
Source:
Vickiesteam
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 7:57AM
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 Bradford Elite Real Estate LLC
Investment Insights
Based on property information with market context.
This 3,377-square-foot flex property combines customer-facing office and showroom areas with warehouse functionality. The refreshed front section includes an open showroom or office area, a private office, and contemporary finishes. Behind it, the warehouse provides a second private office, three oversized bay doors, a loading dock, and space for inventory, distribution, equipment storage, light manufacturing, or service activities.
The property occupies a corner lot on Wesley Street, also identified as Hwy 34, in Greenville. Its address places the building within a commercial corridor with direct street exposure and convenient access. Commercial zoning supports the property’s office, showroom, and warehouse configuration.
The property occupies a corner lot on Wesley Street, also identified as Hwy 34, in Greenville. Its address places the building within a commercial corridor with direct street exposure and convenient access. Commercial zoning supports the property’s office, showroom, and warehouse configuration.
Key Highlights
- 3,377 square feet of office and warehouse space
- Corner lot on Wesley Street, also identified as Hwy 34
- Three oversized bay doors and a loading dock
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
$54,337
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
9.07%
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%
$1,086,740
$1.1M
Cap Rate 7%
$776,243
$776.2K
Cap Rate 9%
$603,744
$603.7K
Market Conditions
NOI Build-Up for 3,377 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
$81.5K $24.12/SF
− Vacancy
−$3.8K −$1.13/SF
EGI
$77.6K $22.99/SF
− OpEx
−$23.3K −$6.90/SF
NOI
$54.3K $16.09/SF
Area
Hunt County, TX
Vacancy
4.70%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
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%
$1,086,740
Cap Rate 7%
$776,243
Cap Rate 9%
$603,744
Alternative Uses
Best Use
Industrial
$3.36M
$2.94M – $3.91M
NOI $234,892 @ 7.0% cap · market cap 39.21%
Second Best
Retail
$776.2K
$679.2K – $905.6K
NOI $54,337 @ 7.0% cap · market cap 9.07%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75402, TX
18,983
Population
8,024
Households
2.4
Avg Household Size
41
Median Age
32%
College-Educated
93%
High-School Grad
90.8 sq mi
ZIP Area
209
Density / Sq Mi
$77,602
Median Household Income
$46,076
Median Earnings
$1,414
Median Rent
$252,500
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.
Frequently Asked Questions
What type of property is this?
Flex space - Commercial zoning and a corner position support office, showroom, and warehouse operations.
Where is this flex space located?
The property is located at 8916 Wesley Street Greenville, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 3,377 square feet of office and warehouse space; Corner lot on Wesley Street, also identified as Hwy 34; Three oversized bay doors and a loading dock
