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    Property profile & analytics

    2407 Preston St Ennis, TX 75119

    • Industrial properties
    • 62,500 SF
    • 2.13 lot acres
    For Sale
    View listing
    $5,250,000
    Last Sale
    Jun 30, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2924233
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • H & P Expo LLC / Convention Center
    • Party Club of America / Party Store / Distribution Service
    • Creep It Cheap / Store

    Property Details for 2407 Preston St

    Year built
    1962
    Lot size
    2.13 lot acres
    Property size
    62,500 SF
    Property type
    Industrial properties
    APN
    25.0383.000.055.00.103
    APU
    25038300005500103

    Description

    This Ennis, Texas industrial property, located at 2407 & 2411 N Preston Street, offers 66,500 square feet of warehouse and distribution space for sale. The property consists of two buildings: a large 62,500 square foot building and a smaller 4,000 square foot building, built in 1961, 1980, and 1994 respectively. Situated on a 3.21-acre lot (139,827 square feet), this Class C property features 6 dock-high doors and 1 grade-level door, providing ample loading and unloading capabilities. Ceiling heights range from 14 to 20 feet, offering versatile storage options. The property includes 30+ parking spaces and benefits from 3-phase, 240v, 200-amp power. Conveniently located with easy access to I-45 and 287, this property is zoned for industrial use and is offered at $5,250,000 ($78.95/sq ft). The sale is a Net Net lease (NN) with the property currently vacant. This presents a significant opportunity for light industrial manufacturing or warehousing operations.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $770,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,050,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ennis
    County
    Ellis
    State
    Texas
    Longitude
    -96.6462
    Latitude
    32.3472
    CBSA code
    19100
    CBSA name
    DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2018
    $10,503
    $286,699
    $388,301
    $675,000
    -
    $286,699
    $388,301
    $675,000

    Comparable in this City

    • Value Estimation
      $725,000
      169,362 SF

      4200 Knighthurst St

      INDUSTRIAL (GENERAL) • 169,362 SF
      4200 Knighthurst St, Ennis, TX 75119-9050
      View Details
    • Value Estimation
      $545,000
      143,236 SF

      2708 Main St

      INDUSTRIAL (GENERAL) • 143,236 SF
      2708 Main St, Ennis, TX 75119-8426
      View Details
    • Value Estimation
      $565,000
      151,936 SF

      301 Plant Rd

      INDUSTRIAL (GENERAL) • 151,936 SF
      301 Plant Rd, Ennis, TX 75119-9649
      View Details
    • Value Estimation
      $650,000
      24,900 SF

      2501 Interstate Hwy 45

      INDUSTRIAL (GENERAL) • 24,900 SF
      2501 Interstate Hwy 45, Ennis, TX 75119-1539
      View Details
    • Value Estimation
      $300,000
      8,240 SF

      101 Buchholtz Ave

      INDUSTRIAL (GENERAL) • 8,240 SF
      101 Buchholtz Ave, Ennis, TX 75119
      View Details
    • Value Estimation
      $625,000
      237,817 SF

      901 National Dr

      INDUSTRIAL (GENERAL) • 237,817 SF
      901 National Dr, Ennis, TX 75119
      View Details

    Similar Nearby for Sale

    • $5,411,461
      14.00 Acres

      Ennis Industrial Land - 14 Acres

      Prime Ennis industrial land, Highway 287 access.
      3619 Oak Grove Rd, Ennis, TX 75119
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    • $5,250,000
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      Ennis Industrial Property - 66,500 SF

      Texas warehouse/distribution center, vacant, owner financing.
      2407 Preston St, Ennis, TX 75119
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    • Contact for pricing
      14.98 Acres

      I-45 Ennis, TX Industrial Land

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    • $825,000
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      Ennis Industrial Building - 10,000 SF

      Spacious Ennis industrial building, great location, high-power.
      2313 Preston St, Ennis, TX 75119
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    • $575,000
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      Ennis Industrial Building - 8,000 SF

      Spacious Ennis warehouse, 1.21 acres, highway access.
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    • $435,000

      Ennis Warehouse: Prime Location

      .8-Acre Warehouse, Vacant, $435K
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    Similar Nearby for Lease

    • Contact for pricing
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      Adaptable Flex Space in Ennis

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    • $4 SF/Yr
      62,500 SF

      Ennis Warehouse with Six Docks

      62,500 SF warehouse on 2.13 acres with six docks.
      2407 N Preston St, Ennis, TX 75119
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    • $5,250,000
      66,500 SF

      Ennis Warehouse and Distribution Facility

      66,500 SF warehouse and distribution property with I-45 access.
      2407-2411 N Preston St, Ennis, TX 75119
      View Details
    • $13,632 /Mo
      762,300 SF

      Prime I-45 Alma, TX Land

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    • Contact for pricing
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      Restaurant Space on Interstate Highway

      Restaurant space for lease with high visibility and accessibility.
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      View Details
    • Contact for pricing
      4,160 SF

      Former Restaurant Space in Ennis, TX

      Vacant 4,160 SF building in Dallas MSA for lease.
      111 S Interstate Highway 45, Ennis, TX 75119
      View Details
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    Ennis, TX 75119
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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
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