Flex Space with Covered
New
For Sale
$750,000
9920 Wesley St, Greenville, TX 75402
Versatile commercial building with office space, paved parking, gated access, and covered exterior work or storage area.
Property Size2,800 SF
Lot Size1.45 Acres
Price / SF$267.86
Days on Market5
Property Features for 9920 Wesley St
General Information
Standard status
Active
Size
2,800 SF
Lot size
1.45 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Building Details
Year Built
1987
Buildings
1
Building Size
2,800 SF
Listing Agency:
Century 21 First Group
(903) 885-3146
Listed By:
Holly Gray · License #0457861
Source:
Heritance
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 29 at 8:45PM
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 First Group
Investment Insights
Based on property information with market context.
This flex property includes a 2,800-square-foot commercial building with office space and an approximately 1,400-square-foot covered overhang. The site previously operated as a window tint shop and includes a parking lot, additional concrete areas, partial fencing, and a gated driveway entrance. These improvements support a range of commercial configurations, including automotive service, retail, warehouse, light industrial, and contractor operations as described for the property.
Set on approximately 1.45 acres along Highway 34 South, the property provides road frontage and access for customers and deliveries. Utility service consists of city water, electricity, and a septic system. The building was constructed in 1987, with substantial exterior area available for vehicle parking, equipment storage, trailers, inventory, or other covered operations.
Set on approximately 1.45 acres along Highway 34 South, the property provides road frontage and access for customers and deliveries. Utility service consists of city water, electricity, and a septic system. The building was constructed in 1987, with substantial exterior area available for vehicle parking, equipment storage, trailers, inventory, or other covered operations.
Key Highlights
- Approximately 1.45 acres along Highway 34 South
- 2,800‑square‑foot commercial building with office space
- Approximately 1,400‑square‑foot covered overhang
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
$45,053
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
6.01%
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%
$901,060
$901.1K
Cap Rate 7%
$643,614
$643.6K
Cap Rate 9%
$500,589
$500.6K
Market Conditions
NOI Build-Up for 2,800 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
$67.5K $24.12/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$64.4K $22.99/SF
− OpEx
−$19.3K −$6.90/SF
NOI
$45.1K $16.09/SF
Area
Hunt County, TX
Vacancy
4.70%
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%
$901,060
Cap Rate 7%
$643,614
Cap Rate 9%
$500,589
Alternative Uses
Best Use
Industrial
$2.78M
$2.43M – $3.25M
NOI $194,758 @ 7.0% cap · market cap 25.97%
Second Best
Retail
$643.6K
$563.2K – $750.9K
NOI $45,053 @ 7.0% cap · market cap 6.01%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75402, TX
18,983
Population
8,024
Households
2.4
Avg Household Size
41
Median Age
32%
College-Educated
93%
High-School Grad
90.8 sq mi
ZIP Area
209
Density / Sq Mi
$77,602
Median Household Income
$46,076
Median Earnings
$1,414
Median Rent
$252,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial building with office space, paved parking, gated access, and covered exterior work or storage area.
Where is this flex space located?
The property is located at 9920 Wesley St Greenville, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Approximately 1.45 acres along Highway 34 South; 2,800‑square‑foot commercial building with office space; Approximately 1,400‑square‑foot covered overhang
