Flex Space With
New
For Sale
$150,000
Rhoades Lane, Springtown, TX 76082
LAND - Other - Springtown, TX
Property Size1,000 SF
Lot Size1.00 Acre
Price / SF$150
Days on Market3
Property Features for Rhoades Lane
General Information
Property type
Land
Property subtype
Retail
Zoning description
unrestricted
Parking features
RV, Boat
Vegetation
Grassed, Cleared
Exterior features
Awnings, Lighting, PrivateEntrance, RvHookup, Storage
Subdivision
Adam Acres
Lot features
Acreage, Cleared, Subdivided, Few Trees
Elementary school
Goshen Creek
Middle school
Springtown
High school
Springtown
Elementary school district
Springtown ISD
Middle school district
Springtown ISD
High school district
Springtown ISD
Directions
From Springtown on 199, turn right on Rhoades lane and the land and shop are on the left directly behind the Dollar store
Standard status
Active
APN
R000092983
Lot size
1.00 Acre
Utilities
Sewer type
Septic Tank
Cooling system
Ceiling Fan(s)
Building Details
Year built
1984
Architectural style
Other
Additional Structures
Barn(s), Storage
Listing Agency:
eXp Realty, LLC
(888) 519-7431
Listed By:
Suzanne Eldridge Gore · License #0586636
(888) 519-7431
Added: Aug 9
Changed: Aug 11
Last Checked: Aug 11 at 5:06PM
MLS# 21332107
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This one-acre Springtown property includes a 1,000-square-foot concrete cinderblock shop built in 1984. The building contains a primary work area and a separate secondary space, with water service, 200 Amp electrical service, fluorescent lighting, and two large ceiling fans. Two 50-amp connections support RV use or equipment needs. A 350-square-foot covered porch with its own concrete slab extends the usable footprint and could be enclosed for additional interior area.
The parcel is partially fenced and served by a septic tank. Its unrestricted status supports a range of on-site storage, equipment, business, and live-work arrangements described for the property, including RV, trailer, and manufactured-home use. Mature trees, open views, and new electrical work on both sides of the shop complete the existing improvements.
The parcel is partially fenced and served by a septic tank. Its unrestricted status supports a range of on-site storage, equipment, business, and live-work arrangements described for the property, including RV, trailer, and manufactured-home use. Mature trees, open views, and new electrical work on both sides of the shop complete the existing improvements.
Key Highlights
- 1‑acre unrestricted parcel in Springtown, TX
- 1,000 SF concrete cinderblock shop with primary and secondary areas
- 200 Amp electrical service, water service, and septic tank
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
$13,800
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
9.20%
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%
$276,000
$276.0K
Cap Rate 7%
$197,143
$197.1K
Cap Rate 9%
$153,333
$153.3K
Market Conditions
NOI Build-Up for 1,000 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
$24.0K $24.00/SF
− Vacancy
−$1.9K −$1.92/SF
EGI
$22.1K $22.08/SF
− OpEx
−$8.3K −$8.28/SF
NOI
$13.8K $13.80/SF
Area
Parker County, TX
Vacancy
8.00%
Lease Rate
$24.00 /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%
$276,000
Cap Rate 7%
$197,143
Cap Rate 9%
$153,333
Alternative Uses
Best Use
Industrial
$993.7K
$869.5K – $1.16M
NOI $69,556 @ 7.0% cap · market cap 46.37%
Second Best
Mixed Use
$197.1K
$172.5K – $230.0K
NOI $13,800 @ 7.0% cap · market cap 9.20%
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
Utilities to site
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76082, TX
21,514
Population
8,576
Households
2.5
Avg Household Size
40
Median Age
16%
College-Educated
87%
High-School Grad
102.8 sq mi
ZIP Area
209
Density / Sq Mi
$93,553
Median Household Income
$49,323
Median Earnings
$1,275
Median Rent
$277,900
Median Home Value
Market
Vacancy Rate% for Office 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 - Unrestricted parcel with a durable shop, water service, RV connections, and live-work capability.
Where is this flex space located?
The property is located at Rhoades Lane Springtown, TX.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 1‑acre unrestricted parcel in Springtown, TX; 1,000 SF concrete cinderblock shop with primary and secondary areas; 200 Amp electrical service, water service, and septic tank
