242 Ovilla Rd Red Oak, TX 75154
- Commercial real estate
- 280 SF
- 0.36 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 242 Ovilla Rd
- Year built
- 1989
- Lot size
- 0.36 lot acres
- Property size
- 280 SF
- Property type
- Commercial real estate
- APN
- 72.3090.902.001.98.111
- APU
- 72309090200198111
Description
Red Oak Ranch Center offers exceptional retail space in a thriving Ellis County location. This multi-tenant center, built in 2022, boasts a total of 10,000 square feet situated on a 1.19-acre lot. The property features a Class B building with excellent visibility due to its hard corner location and Ovilla Road frontage. Currently, there is space available ranging from 1,500 to 8,500 contiguous square feet, making it ideal for a variety of retail businesses. The center is anchored by Shipley Donuts, benefiting from the high traffic and established customer base of this popular brand. The surrounding area exhibits a dense concentration of retail, office, and residential properties, ensuring a strong customer base and high foot traffic for potential tenants. The property's strategic location and modern construction make it an attractive opportunity for businesses seeking a prominent presence in a rapidly growing market. The minimum divisible space is 1,500 square feet, offering flexibility for businesses of various sizes. This is a unique opportunity to establish or expand your business in a vibrant and well-positioned retail center. The single building structure provides a cohesive and easily managed space.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $315,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $320,000
- 6.5%
- $360,000
- 7%
- $345,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $290,000
- Geo Method
- $330,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $350,000
- Retail
- $340,000
- Mixed-Use
- $370,000
- Hospitality
- $335,000
- Educational
- $340,000
- Residential Income
- $285,000
- Energy
- $295,000
- Income-Based Land
- $380,000
- Food Service
- $335,000
Location Insight
- Map
- Local Demand
- City
- Red Oak
- County
- Ellis
- State
- Texas
- Longitude
- -96.8092
- Latitude
- 32.5322
- CBSA code
- 19100
- CBSA name
- DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA