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    710 23Rd St Canyon, TX 79015

    Sponsored
    For Lease
    $22 SF/Yr ($12,283 /Mo)

    Prime Canyon storefront, 1,250-2,588 sq ft.

    Lot size:
    6,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This exceptional Class A retail space, located at 710 23rd Street in Canyon, Texas, presents a unique opportunity for businesses seeking a vibrant and accessible location. The property is part of a new retail building situated on a main thoroughfare in Randall County, offering excellent visibility and foot traffic. The total building size is 6,700 square feet, with multiple tenancies. Currently, a contiguous space of 2,588 square feet is available, offering flexibility for businesses needing a larger footprint. However, the property is also divisible, with a minimum leasable area of 1,250 square feet, catering to a range of business needs and sizes. The property's prime location in Canyon, TX, zip code 79015, ensures easy access for customers and employees. This is an ideal opportunity for businesses looking to establish or expand their presence in a thriving Texas community. The address is 710 23rd Street, Canyon, TX 79015. The available space offers a blank canvas for businesses to create their ideal retail environment. Don't miss this chance to secure a prominent location in a rapidly growing area.

    Property Features for 710 23Rd St

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    6,700 SF
    Class
    A
    Total Rate
    12283.33

    Unit(s) available at that property

    Space
    Suites 100-200
    Size
    2,588 SF
    Rate per SF
    $26

    We can help!

    Listing Contact
    Josh Langham
    Josh Langham

    Learn more

    Property Insight Report

    HighLights

    • 1250‑2588 square feet available.
    • $22.00/SF base rent.
    • $20.00/SF tenant improvement allowance.
    • $4.50/SF estimated NNN expenses.
    • Five‑year initial lease term with options.
    • 12.5% rent increase after five years.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dental Group of Canyon Dentist Amy Stephenson Medical Clinic

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Canyon
    County
    Randall
    State
    Texas
    Longitude
    -101.9196332
    Latitude
    34.975993

    Nearby Comparable

    • $23 SF/Yr

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    Nearby Similar for Lease

    • $23 SF/Yr

      Retail Space in Canyon, TX

      Retail property available for lease in Canyon, Texas.
      501 23Rd St, Canyon, TX 79105
      View Details
    • $775,000
      7,784 SF

      Downtown Canyon Commercial Space Available

      Flexible commercial space in a high-traffic, growing downtown area.
      408 15Th St, Canyon, TX 79015
      View Details
    • $18 SF/Yr
      14,400 SF

      Canyon Retail Space - 3600 SF Available

      Prime Canyon retail space near WTAMU
      3404 4Th Ave, Canyon, TX 79015
      View Details
    • $9 SF/Yr
      9,000 SF

      Canyon Industrial Flex Space

      9,000 SF Flex Space - I-27 Access
      18600 I-27 Frontage Rd Cyn, Canyon, TX 79015
      View Details
    • $26 SF/Yr
      3,358 SF

      New Construction Retail/Office Space

      New construction retail or office space for lease.
      2 Glorieta Dr, Canyon, TX
      View Details
    • $9 SF/Yr
      3,600 SF

      New Warehouse with Overhead Doors

      Adaptable warehouse space featuring multiple overhead doors.
      18700 S Us 87, Canyon, TX
      View Details
    • $20 SF/Yr
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      Canyon Office Space For Lease

      Office space in Canyon suitable for various business uses.
      2100 Soncy Rd, Canyon, TX 79015
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Prime Canyon storefront, 1,250-2,588 sq ft.
    Where is this individual retail property located?
    The property is located at 710 23Rd St Canyon, TX.
    What is the lease rate?
    The lease rate is $26 SF/Yr.
    What are key features of this property?
    This property features: 1250-2588 square feet available.; $22.00/SF base rent.; $20.00/SF tenant improvement allowance.
    Request Owner's contact information
    710 23Rd St Canyon, TX 79015
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    Canyon, TX 79015
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    710 23Rd St Canyon, TX 79015
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    We can help!
    Listing Contact
    Josh Langham
    Josh Langham
    Real Estate License ID: TX 664099
    Learn more
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