Flex Space with Warehouse
For Sale
$2,500,000
1024 Us-377, Pilot Point, TX 76258
CommercialSale, Pilot Point, TX
Property Size9,200 SF
Lot Size0.78 Acres
Price / SF$271.74
Days on Market61
Property Features for 1024 Us-377
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-2
Parking features
Driveway
Subdivision
B R Add
Directions
Property is directly on Hwy 377 on the north side of Pilot Point. Going North on 377 through Pilot Point, property will be on the left.
Standard status
Active
APN
R160029
Lot size
0.78 Acres
Taxes and HOA fees
Tax Description
B. R. ADDN BLK 1 LOT 1
Tax Annual Amount
6778
Legal Description
B. R. ADDN BLK 1 LOT 1
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1982
Floors in Building
1
Number of units
2
Flooring type
Laminate, Concrete
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Keller Williams Realty
(940) 484-9411
Listed By:
Benjamin Clark · License #0611947
(940) 484-9411
Added: Jun 30
Changed: Aug 28
Last Checked: Aug 29 at 12:06AM
MLS# 21292004
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 flex property comprises two connected buildings with office and warehouse areas arranged for direct workflow between the spaces. The office portion includes a reception or conference area, two private offices, and a half bath, while the warehouse offers multiple ground-level overhead doors, 13-foot ceilings, concrete flooring, natural light, and a second half bath. Central HVAC serves the office area, and on-site driveway parking supports employees, customers, and fleet vehicles.
The property occupies 0.78 acres along US 377 in Pilot Point, providing direct corridor exposure and access. Public water and sewer serve the site. Capital work completed in 2020 included a metal roof replacement, wall updates, office HVAC improvements, and electrical upgrades. Built in 1982, the property combines established construction with updated building systems for a range of commercial operations.
The property occupies 0.78 acres along US 377 in Pilot Point, providing direct corridor exposure and access. Public water and sewer serve the site. Capital work completed in 2020 included a metal roof replacement, wall updates, office HVAC improvements, and electrical upgrades. Built in 1982, the property combines established construction with updated building systems for a range of commercial operations.
Key Highlights
- Two connected buildings with integrated office, warehouse, and flex areas
- 0.78‑acre property along US 377 in Pilot Point
- Warehouse includes multiple ground‑level overhead doors and 13‑foot ceilings
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
$127,926
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
5.12%
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%
$2,558,520
$2.6M
Cap Rate 7%
$1,827,514
$1.8M
Cap Rate 9%
$1,421,400
$1.4M
Market Conditions
NOI Build-Up for 9,200 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
$227.4K $24.72/SF
− Vacancy
−$56.9K −$6.18/SF
EGI
$170.6K $18.54/SF
− OpEx
−$42.6K −$4.64/SF
NOI
$127.9K $13.91/SF
Area
Denton County, TX
Vacancy
25.00%
Lease Rate
$24.72 /SF/Yr
Expense Ratio
25.00%
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%
$2,558,520
Cap Rate 7%
$1,827,514
Cap Rate 9%
$1,421,400
Alternative Uses
Best Use
Office B
$1.83M
$1.60M – $2.13M
NOI $127,926 @ 7.0% cap · market cap 5.12%
Second Best
Warehouse
$819.1K
$716.8K – $955.7K
NOI $57,340 @ 7.0% cap · market cap 2.29%
Theoretical Best
Multifamily LT 5
$128.66M
$112.57M – $150.10M
NOI $9,005,970 @ 7.0% cap · market cap 360.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13 ft
Clear height
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 76258, TX
7,409
Population
3,079
Households
2.4
Avg Household Size
41
Median Age
30%
College-Educated
82%
High-School Grad
90.3 sq mi
ZIP Area
82
Density / Sq Mi
$93,661
Median Household Income
$51,382
Median Earnings
$1,224
Median Rent
$320,200
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?
Flex space - Connected office and warehouse areas provide a practical layout for industrial, service, storage, or owner-user operations.
Where is this flex space located?
The property is located at 1024 Us-377 Pilot Point, TX.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Two connected buildings with integrated office, warehouse, and flex areas; 0.78‑acre property along US 377 in Pilot Point; Warehouse includes multiple ground‑level overhead doors and 13‑foot ceilings
