Mixed-Use Property with
For Sale
$700,000
8983 W Odneal Rd, Krum, TX 76249
Includes a workshop, two homes, and a partially completed structure with water and electric.
Property Size1,762 SF
Lot Size5.00 Acres
Price / SF$397.28
Days on Market80
Property Features for 8983 W Odneal Rd
General Information
Standard status
Active
Size
1,762 SF
Lot size
5.00 Acres
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Clear Height
12 ft
Building Details
Year Built
1987
Buildings
4
Listing Agency:
Stag Residential
Listed By:
Lisa McEntire · License #0575860
(817) 601-1630
Source:
Dfwareahousehunt
Added: Jul 27
Changed: Oct 4
Last Checked: Oct 12 at 8:19PM
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 Stag Residential
Investment Insights
Based on property information with market context.
This mixed-use property combines a 5-acre site with multiple existing structures, including a 30-by-50-foot workshop with 12-foot height, two roll-up doors, electrical service, and a concrete floor. Two homes are also located on the property and may support live-work use or business operations. A separate unfinished structure has water and electric connections and could accommodate additional commercial or storage functions.
The property is outside city limits and has no deed restrictions, according to the provided information. Land remains behind the existing improvements for potential future construction. Built in 1987, the property offers a combination of residential structures, workshop space, and additional unfinished space within a single mixed-use setting.
The property is outside city limits and has no deed restrictions, according to the provided information. Land remains behind the existing improvements for potential future construction. Built in 1987, the property offers a combination of residential structures, workshop space, and additional unfinished space within a single mixed-use setting.
Key Highlights
- 5‑acre mixed‑use property outside city limits
- 30' x 50' x 12' workshop with 2 roll‑up doors
- Workshop includes electric service and a cement floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,246
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,920
$584.9K
Cap Rate 7%
$417,800
$417.8K
Cap Rate 9%
$324,956
$325.0K
Market Conditions
NOI Build-Up for 1,762 SF
Gross rent
$44.0K $24.96/SF
− Vacancy
−$2.2K −$1.25/SF
EGI
$41.8K $23.71/SF
− OpEx
−$12.5K −$7.11/SF
NOI
$29.2K $16.60/SF
Area
Denton County, TX
Vacancy
5.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,920
Cap Rate 7%
$417,800
Cap Rate 9%
$324,956
Alternative Uses
Best Use
Retail
$417.8K
$365.6K – $487.4K
NOI $29,246 @ 7.0% cap · market cap 4.18%
Second Best
Office B
$350.0K
$306.3K – $408.4K
NOI $24,501 @ 7.0% cap · market cap 3.50%
Theoretical Best
Multifamily LT 5
$24.64M
$21.56M – $28.75M
NOI $1,724,839 @ 7.0% cap · market cap 246.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
12 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 76249, TX
9,411
Population
3,375
Households
2.8
Avg Household Size
36
Median Age
33%
College-Educated
93%
High-School Grad
71.1 sq mi
ZIP Area
132
Density / Sq Mi
$111,263
Median Household Income
$51,788
Median Earnings
$1,703
Median Rent
$304,300
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a workshop, two homes, and a partially completed structure with water and electric.
Where is this mixed-use property located?
The property is located at 8983 W Odneal Rd Krum, TX.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 5‑acre mixed‑use property outside city limits; 30' x 50' x 12' workshop with 2 roll‑up doors; Workshop includes electric service and a cement floor
