Warehouse with Highway
For Sale
$1,500,000
11125 E State Highway 31, Kerens, TX 75144
CommercialSale, Kerens, TX
Property Size10,000 SF
Lot Size15.00 Acres
Price / SF$150
Days on Market8
Property Features for 11125 E State Highway 31
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
Unzoned. Located in the county
Lot features
Acreage
Directions
Google Map Address: 11125 E. State Highway 31 Kerens, Texas.
Standard status
Active
APN
84659
Lot size
15.00 Acres
Utilities
Sewer type
Septic Tank
Building Details
Year built
2026
Floors in Building
2
Number of units
1
Flooring type
Concrete
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Kelly Harris Company,LLC
(214) 926-7722
Listed By:
Kelly Harris · License #0332614
(214) 926-7721
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 24 at 11:06AM
MLS# 21236985
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 under-construction warehouse property includes a 10,000-square-foot metal-sided building on a 15-acre tract. The structure measures 80 by 125 feet, with 20-foot sidewalls, a 26.8-foot peak, three 16-by-16-foot overhead doors, six walk-through doors, a double glass entry door, and front-facing windows. A six-foot cantilevered awning extends along the building frontage. The concrete slab is six inches deep and rated at 3,500 psi, with reinforced perimeter and cross beams.
The property fronts 713 feet on E. State Highway 31 and 731 feet on County Road 2190, with 1,144 feet of depth along the west boundary. It is located in Navarro County and is unzoned. A six-inch Chatfiled water line with meter serves the frontage, while the property uses an LPD septic system. Electrical service includes single-phase 600-amp, 120:240-volt power, and crushed-concrete parking areas extend along the west and south sides of the building.
The property fronts 713 feet on E. State Highway 31 and 731 feet on County Road 2190, with 1,144 feet of depth along the west boundary. It is located in Navarro County and is unzoned. A six-inch Chatfiled water line with meter serves the frontage, while the property uses an LPD septic system. Electrical service includes single-phase 600-amp, 120:240-volt power, and crushed-concrete parking areas extend along the west and south sides of the building.
Key Highlights
- 10,000 SF warehouse on 15 acres, with 80‑by‑125‑foot building dimensions
- 713 feet of frontage on SH 31 and 731 feet on County Road 2190
- Three 16‑by‑16‑foot overhead doors; 20‑foot sidewalls and 26.8‑foot peak
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
$76,941
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
5.13%
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%
$1,538,820
$1.5M
Cap Rate 7%
$1,099,157
$1.1M
Cap Rate 9%
$854,900
$854.9K
Market Conditions
NOI Build-Up for 10,000 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
$100.8K $10.08/SF
− Vacancy
−$10.3K −$1.03/SF
EGI
$90.5K $9.05/SF
− OpEx
−$13.6K −$1.36/SF
NOI
$76.9K $7.69/SF
Area
Navarro County, TX
Vacancy
10.20%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
15.00%
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%
$1,538,820
Cap Rate 7%
$1,099,157
Cap Rate 9%
$854,900
Alternative Uses
Best Use
Warehouse
$1.10M
$961.8K – $1.28M
NOI $76,941 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$109.86M
$96.13M – $128.17M
NOI $7,690,232 @ 7.0% cap · market cap 512.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75144, TX
3,462
Population
1,655
Households
2.1
Avg Household Size
47
Median Age
21%
College-Educated
89%
High-School Grad
173.7 sq mi
ZIP Area
20
Density / Sq Mi
$62,528
Median Household Income
$33,354
Median Earnings
$847
Median Rent
$156,400
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Warehouse - Warehouse improvements and a large unzoned tract offer flexible commercial land and building functionality.
Where is this warehouse located?
The property is located at 11125 E State Highway 31 Kerens, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 10,000 SF warehouse on 15 acres, with 80‑by‑125‑foot building dimensions; 713 feet of frontage on SH 31 and 731 feet on County Road 2190; Three 16‑by‑16‑foot overhead doors; 20‑foot sidewalls and 26.8‑foot peak
