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    Flex Space with Two Buildings Title is generated by Realmo AI

    107 Briscoe, Gorman, TX 76454

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    For Sale
    $75,000

    COMMERCIAL - Gorman, TX

    Property size:
    1,168 SF
    Lot size:
    0.23 Acres
    Price / SF:
    $64/SF
    Added:
    May 8, 2026
    Days on Market:
    27
    Last Refresh:
    Jun 3 at 8:06 pm

    Property Features for 107 Briscoe

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    0013676
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Description
    1-2-3 & E13 OF LT 4 BLK 14 OT GORMAN (88X115)
    Tax Annual Amount
    625

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1999
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Laminate, Concrete
    Building materials
    MetalSiding, WoodSiding
    Roof type
    Composition, Metal

    We can help!

    Listing Contact
    Brittney Segura

    Listing agent Brittney Segura License #0823760

    Listing office eXp Realty, LLC Austin, TX

    Listing date May 8, 2026

    MLS# 21259712

    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.

    HighLights

    • 1999‑built property with two separate buildings totaling approximately 1,168 sq ft
    • Main structure is approximately 720 sq ft with an open layout and kitchenette area
    • Additional metal building is approximately 448 sq ft for storage, workshop space, or future expansion
    • Public utilities: public water and public sewer
    • Exterior includes metal and wood siding with composition and metal roofing
    • Cooling with window unit(s) and on‑site parking lot

    Overview

    This flex space includes two separate buildings totaling approximately 1,168 square feet, offering a flexible setup for storage, a workshop, or a future build-out. The main structure is about 720 square feet and features an open layout with a kitchenette area, giving you a convenient starting point for reconfiguration. A secondary metal building of about 448 square feet adds additional covered space that can support vehicle or equipment storage, project work, or complementary use.

    Set in the heart of Gorman, Texas, the property is positioned in a quiet small-town setting. Eastland and Stephenville are both within a short drive, which can make this a practical option for operators and buyers looking for convenient access to nearby regional destinations.

    With no known restrictions noted, the property presents a “blank canvas” opportunity for a buyer or tenant who wants to shape the space to their needs. The combination of an open main area and a separate metal building can work well for small business use, hands-on workspaces, or income potential through conversion. If you’re looking for a modest, adaptable property where you can bring your own vision, this two-building layout is a strong place to start.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Restaurant Big Box & Wholesale Store Auto Repair Shop Nail Salon Hotel & Motel Auto Parts Store Department Store Bar & Pub Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gorman
    County
    Eastland
    State
    Texas
    Longitude
    -98.6714686
    Latitude
    32.2118974

    Nearby Similar for Sale

    • $175,000

      Mixed-Use Restaurant Building

      Restaurant, bar, and flexible upper rooms make this an attractive turn-key opportunity in downtown Gorman.
      107 N Kent Street, Gorman, TX 76454
      View Details
    • $175,000
      10,005 SF

      Historic Gorman Restaurant and Event

      Restaurant, bar, event center, and potential living space.
      107 N Kent Street, Gorman, TX 76454
      View Details

    FAQs

    What type of property is this?
    Warehouse - Two-building flex property with open main space and kitchenette plus metal outbuilding for storage or workshop.
    Where is this warehouse located?
    The property is located at 107 Briscoe Gorman, TX.
    What is the asking price?
    The asking price for this property is $75,000.
    What are key features of this property?
    This property features: 1999‑built property with two separate buildings totaling approximately 1,168 sq ft; Main structure is approximately 720 sq ft with an open layout and kitchenette area; Additional metal building is approximately 448 sq ft for storage, workshop space, or future expansion
    (888) 519-7431
    We can help!
    Listing Contact
    Brittney Segura
    Real Estate License ID: 0823760
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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.

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