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    4311 31St St Temple, TX 76502

    Sponsored
    For Lease
    $16 SF/Yr

    Prime Temple retail space, multiple units available.

    Lot size:
    22,100 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    Plaza 31, located at 4311 S 31st St in Temple, Texas, 76502, offers a fantastic opportunity for retail businesses seeking high-visibility locations. This 22,100 square foot retail center, built in 2001, sits on a 1.85-acre lot and is zoned for General Retail use. Currently, approximately 6,755 square feet is available, divided into three separate spaces ranging in size from 1,554 to 3,400 square feet. The property's multiple tenancy structure provides flexibility for a variety of retail concepts. The building's total square footage is 22,100 square feet, with 3,395 square feet currently vacant. This prime location in Temple, Texas offers excellent visibility and accessibility for customers. The property's ample lot size provides ample parking and potential for future expansion. This is an ideal opportunity for businesses looking to establish or expand their presence in a thriving retail market. The property's General Retail zoning allows for a wide range of uses, making it a versatile option for prospective tenants. With its strategic location and available space, Plaza 31 presents a compelling investment opportunity in a growing Texas market.

    Property Features for 4311 31St St

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    22,100 SF
    Total Rate
    29835

    Building Details

    Year Built
    2001

    Unit(s) available at that property

    Space
    Suite 135
    Size
    1,700 SF
    Rate per SF
    $16
    Space
    105-115
    Size
    3,400 SF
    Rate per SF
    $16
    Space
    155
    Size
    1,554 SF

    We can help!

    Listing Contact
    William Morris
    William Morris

    Learn more

    Property Insight Report

    HighLights

    • High‑visibility retail center in Temple, TX.
    • 22,100 SF retail building on a 1.85‑acre lot.
    • 6,755 SF of available retail space, divisible into three suites (1,554 SF - 3,400 SF).
    • General Retail zoning.
    • Ample parking and expansion potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Integrity Services Contractor TULIP NAILS AND SPA Nail Salon Jackson Hewitt Tax ... Tax Preparation Revital Dental Dentist Mobi Dog pet ... Hair Salon

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Temple
    County
    Bell
    State
    Texas
    Longitude
    -97.3734343
    Latitude
    31.0578696

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    FAQs

    What type of property is this?
    Individual retail property - Prime Temple retail space, multiple units available.
    Where is this individual retail property located?
    The property is located at 4311 31St St Temple, TX.
    What is the lease rate?
    The lease rate is $0.00-$16 SF/Yr.
    What are key features of this property?
    This property features: High-visibility retail center in Temple, TX.; 22,100 SF retail building on a 1.85-acre lot.; 6,755 SF of available retail space, divisible into three suites (1,554 SF - 3,400 SF).
    Request Owner's contact information
    4311 31St St Temple, TX 76502
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    Temple, TX 76502
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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
    4311 31St St Temple, TX 76502
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    We can help!
    Listing Contact
    William Morris
    William Morris
    Real Estate License ID: TX
    Learn more
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