Climate-Controlled Live-Work
For Sale
$1,100,000
A-1404 Mcconnell Rd, Gunter, TX 75058
Barndominium-style property combines residential quarters with workshop, storage, garage, and outdoor improvements on 2 acres.
Property Size6,800 SF
Lot Size2.00 Acres
Price / SF$161.76
Days on Market365
Property Features for A-1404 Mcconnell Rd
General Information
Standard status
Active
Size
6,800 SF
Lot size
2.00 Acres
Warehouse & Industrial
Warehouse Space
3,000 SF
Conditioned Warehouse
Yes
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$17,392
Amenities
break room with wet bar
covered patio
Building Details
Stories
2
Building Size
6,800 SF
Listing Agency:
James Spece - Realtor Inc.
(469) 688-1713
Listed By:
James Spece · License #0737814
(469) 688-1713
Source:
Exprealty
Added: Sep 1, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:04PM
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 James Spece - Realtor Inc.
Investment Insights
Based on property information with market context.
This live-work property combines a climate-controlled commercial area with private residential quarters in a single barndominium-style structure. The 6,800-plus-square-foot building includes a 1,063-square-foot two-bedroom, 1.5-bath living area with a full kitchen, laundry, and living room. Additional improvements include a break room with wet bar, half bath, mechanical room, finished two-car garage, workshop, and more than 3,000 square feet of upper-level storage. Spray foam exterior insulation and fiberglass interior insulation support sound reduction and energy efficiency.
A separate 24 × 50 RV garage includes a 50-amp breaker, floor drain connected to the septic system, and a future sewer stub. The property also has a portable storage building, covered patio, and fenced yard. Set on 2 acres at A-1404 Mcconnell Rd in Gunter, Texas, the property has no city taxes and offers a combination of residential, workshop, storage, and garage space.
A separate 24 × 50 RV garage includes a 50-amp breaker, floor drain connected to the septic system, and a future sewer stub. The property also has a portable storage building, covered patio, and fenced yard. Set on 2 acres at A-1404 Mcconnell Rd in Gunter, Texas, the property has no city taxes and offers a combination of residential, workshop, storage, and garage space.
Key Highlights
- 6,800‑plus‑square‑foot climate‑controlled building
- 1,063‑square‑foot living area with 2 bedrooms and 1.5 baths
- More than 3,000 square feet of upper‑level open storage
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
$67,320
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
6.12%
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%
$1,346,400
$1.3M
Cap Rate 7%
$961,714
$961.7K
Cap Rate 9%
$748,000
$748.0K
Market Conditions
NOI Build-Up for 6,800 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
$122.4K $18.00/SF
− Vacancy
−$14.7K −$2.16/SF
EGI
$107.7K $15.84/SF
− OpEx
−$40.4K −$5.94/SF
NOI
$67.3K $9.90/SF
Area
Grayson County, TX
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,346,400
Cap Rate 7%
$961,714
Cap Rate 9%
$748,000
Alternative Uses
Best Use
Office B
$1.62M
$1.42M – $1.90M
NOI $113,744 @ 7.0% cap · market cap 10.34%
Second Best
Mixed Use
$961.7K
$841.5K – $1.12M
NOI $67,320 @ 7.0% cap · market cap 6.12%
Theoretical Best
Hotel Hospitality
$3.49M
$3.05M – $4.07M
NOI $244,188 @ 7.0% cap · market cap 22.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 75058, TX
3,799
Population
1,265
Households
3
Avg Household Size
37
Median Age
47%
College-Educated
86%
High-School Grad
53.8 sq mi
ZIP Area
71
Density / Sq Mi
$117,689
Median Household Income
$40,000
Median Earnings
$1,398
Median Rent
$467,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Barndominium-style property combines residential quarters with workshop, storage, garage, and outdoor improvements on 2 acres.
Where is this live-work space located?
The property is located at A-1404 Mcconnell Rd Gunter, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 6,800‑plus‑square‑foot climate‑controlled building; 1,063‑square‑foot living area with 2 bedrooms and 1.5 baths; More than 3,000 square feet of upper‑level open storage
