Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2400 Ennis Ave Ennis, TX 75119

    Sponsored
    For Sale
    $1,650,000

    Retail Center - Prime Ennis Location

    Property size:
    12,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    411
    This exceptional 12,200 square foot retail center, situated on a 2.46-acre lot in Ennis, Texas, presents a compelling investment opportunity. Built in 1999 and renovated in 2012, the property boasts a single, 100% occupied tenant under an absolute NNN lease with one year remaining. The asking price is $1,650,000, representing a 7.00% cap rate and a price per square foot of $135.25. Currently configured for a single tenant, the building's design allows for subdivision into a multi-tenant strip center, catering to diverse business needs, including medical, professional, or banking uses. Its prominent location on Highway 287 ensures high visibility and traffic, enhanced by a large lighted marquee sign. The property benefits from its proximity to a thriving strip center and popular local restaurant. This well-maintained structure features a new roof and excellent insulation. With a twenty-year history under single ownership, this property offers significant potential for growth in a rapidly expanding area just 32 miles from Dallas. The property is zoned for commercial retail use. A lease for the entire building is available.

    Property Features for 2400 Ennis Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    12,200 SF
    Class
    C
    Lot Size
    107,158 SF

    Building Details

    Year Built/Renovated
    1999/2012
    Buildings
    1
    Stories
    1
    Units
    1

    We can help!

    Listing Contact
    Tim Cummings
    Tim Cummings

    Learn more

    Property Insight Report

    HighLights

    • High‑traffic location with excellent visibility.
    • Suitable for single or multi‑tenant occupancy.
    • Strong growth market offering significant expansion potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Furniture by Sleep ... Mattress Store

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Ennis
    County
    Ellis
    State
    Texas
    Longitude
    -96.6533195
    Latitude
    32.3210148

    Nearby Similar for Sale

    • New
      $774,997
      3,709 SF

      Ennis Ranch Home on Acreage

      Spacious home on 11.958 acres near Ennis, Texas.
      839 Walker Creek Rd, Ennis, TX 75119
      View Details
    • $1,500,000
      9,876 SF

      Versatile Commercial Property With Storefront

      Commercial property featuring storefront, offices, storage, apartment, and gated access.
      4820 W State Hwy 34, Ennis, TX 75119
      View Details
    • $890,000
      1,700 SF

      Ennis Ranch with Charming Home

      Charming 3-bed, 2-bath home on 63 acres near IH45.
      2073 Fm 1182, Ennis, TX 75119
      View Details
    • $799,000
      2,566 SF

      Ennis Ranch with Modern Home

      Ranch near Ennis with a like-new, spacious four-bedroom home.
      1019 Gin Rd, Ennis, TX 75119
      View Details
    • $239,900
      0.20 Acres

      Historic Ennis Office Opportunity

      Historic Ennis property near downtown, suitable for office or residential.
      607 W Brown St, Ennis, TX 75119
      View Details
    • $1,890,000
      2,720 SF

      Ennis Farm/Ranch with Stocked Lake

      102+ acre property with a spacious home and stocked lake.
      751 Sullivan Rd, Ennis, TX 75119
      View Details
    • $270,000
      0.13 Acres

      Ennis, TX Triplex Investment

      Triplex in Ennis, TX, with three income-generating units.
      305 W Waco St, Ennis, TX 75119
      View Details
    • $380,000
      0.23 Acres

      Turnkey Food Truck Bar Space

      Food truck bar space in historic downtown Ennis, Texas.
      115 Main St, Ennis, TX 75119
      View Details
    • $1,800,000
      2.94 Acres

      Bowling Alley on Ennis Avenue

      Commercial building with bowling alley, bar, and kitchen for sale.
      2303 W Ennis Ave, Ennis, TX 75119
      View Details
    • New
      $230,000
      0.10 Acres

      Ennis, TX Duplex For Sale

      Duplex in Ennis, TX with leases in place.
      105 E Tyler St, Ennis, TX 75119
      View Details
    • $263,500
      0.08 Acres

      Historic Downtown Retail Space

      Versatile commercial space in Ennis's historic district.
      215 Main St SW, Ennis, TX 75119
      View Details
    • $2,300,000
      0.80 Acres

      Ennis, TX Car Wash Business

      High-performing car wash with express tunnel, self-service bays, vacuums.
      1703 W Ennis Ave, Ennis, TX 75119
      View Details

    FAQs

    What type of property is this?
    Lifestyle center - Retail Center - Prime Ennis Location
    Where is this lifestyle center located?
    The property is located at 2400 Ennis Ave Ennis, TX.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: High-traffic location with excellent visibility.; Suitable for single or multi-tenant occupancy.; Strong growth market offering significant expansion potential.
    Request Owner's contact information
    2400 Ennis Ave Ennis, TX 75119
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2400 Ennis Ave
    Ennis, TX 75119
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    2400 Ennis Ave Ennis, TX 75119
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Tim Cummings
    Tim Cummings
    Real Estate License ID: 616082
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.