Automotive Property with Block
New
For Sale
$950,000
925 Luke Street, Irving, TX 75061
Occupied commercial building serving vehicle sales and rental operations.
Property Size3,200 SF
Days on Market3
Property Features for 925 Luke Street
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Business
Taxes and HOA fees
Annual Taxes
$3,893
Building Details
Building Size
3,200 SF
Year Built
1967
Buildings
1
Construction
cinder block
Tenancy
Single
Listing Agency:
CENTURY 21 Judge Fite Co.
Listed By:
Wendy Wells
(214) 920-9611
Source:
Nilesrealtygroup
Added: Sep 4
Last Checked: Sep 5 at 7:35AM
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 CENTURY 21 Judge Fite Co.
Investment Insights
Based on property information with market context.
This automotive property at 925 Luke Street in Irving, Texas, is a commercial building with cinder-block walls and a slab foundation. Constructed in 1967, the property is currently occupied by Caleb's Motors for vehicle sales and rental operations.
Caleb's Motors began operating at the property on April 1, 2023. The existing building configuration and automotive occupancy provide a defined commercial use within the Irving market.
Caleb's Motors began operating at the property on April 1, 2023. The existing building configuration and automotive occupancy provide a defined commercial use within the Irving market.
Key Highlights
- 1967 construction
- Cinder‑block wall construction
- Slab foundation
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
$51,435
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
5.41%
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%
$1,028,700
$1.0M
Cap Rate 7%
$734,786
$734.8K
Cap Rate 9%
$571,500
$571.5K
Market Conditions
NOI Build-Up for 3,200 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
$77.2K $24.12/SF
− Vacancy
−$3.7K −$1.16/SF
EGI
$73.5K $22.96/SF
− OpEx
−$22.0K −$6.89/SF
NOI
$51.4K $16.07/SF
Area
Irving, TX
Vacancy
4.80%
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%
$1,028,700
Cap Rate 7%
$734,786
Cap Rate 9%
$571,500
Alternative Uses
Best Use
Retail
$734.8K
$642.9K – $857.3K
NOI $51,435 @ 7.0% cap · market cap 5.41%
Second Best
Industrial
$288.4K
$252.4K – $336.5K
NOI $20,191 @ 7.0% cap · market cap 2.13%
Theoretical Best
Office A
$820.7K
$718.1K – $957.4K
NOI $57,446 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
948
Businesses Nearby
42k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 97%
Dining 3%
RaceTrac
Shops & Services
25,481 visits/mo
0.2 miles
7-Eleven
Shops & Services
7,541 visits/mo
0.2 miles
AutoZone
Shops & Services
4,974 visits/mo
0.3 miles
Hele
Shops & Services
2,340 visits/mo
0.2 miles
Pizza Hut
Dining
1,344 visits/mo
0.1 miles
Demographics for 75061, TX
55,828
Population
20,187
Households
2.8
Avg Household Size
33
Median Age
17%
College-Educated
66%
High-School Grad
11.6 sq mi
ZIP Area
4,813
Density / Sq Mi
$61,260
Median Household Income
$33,388
Median Earnings
$1,292
Median Rent
$228,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Automotive property - Occupied commercial building serving vehicle sales and rental operations.
Where is this automotive property located?
The property is located at 925 Luke Street Irving, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 1967 construction; Cinder‑block wall construction; Slab foundation
