Mixed-Use Commercial
New
For Sale
$450,000
1123 N Main Street, Cleburne, TX 76033
SINGLE_FAMILY - Cleburne, TX
Property Size2,836 SF
Lot Size0.78 Acres
Price / SF$158.67
Days on Market2
Property Features for 1123 N Main Street
General Information
Property type
Residential
Property subtype
Retail
Zoning description
commercial
Subdivision
Original Cleburn
Directions
Use GPS
Standard status
Active
APN
126280002975
Lot size
0.78 Acres
Taxes and HOA fees
Tax Description
LOT 5A BLK 46 ORIGINAL CLEBURNE
Tax Annual Amount
3525
Legal Description
LOT 5A BLK 46 ORIGINAL CLEBURNE
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1974
Floors in Building
1
Number of units
1
Flooring type
Concrete, Tile
Building materials
Brick, Block, Frame, Concrete
Roof type
Flat
Listing Agency:
eXp Realty, LLC
(888) 519-7431
Listed By:
Jason Ellerbusch · License #0573504
(888) 519-7431
Added: Aug 6
Last Checked: Aug 7 at 8:06AM
MLS# 21352552
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 mixed-use commercial property at 1123 N Main Street is positioned on a 0.776-acre parcel in Cleburne. The 1974 building incorporates brick, block, frame, and concrete construction, with concrete and tile flooring and a flat roof. Its layout is identified as suitable for retail, office, restaurant, and service-oriented operations.
Building systems include central heating using natural gas and central air conditioning powered by electricity. Public water and public sewer serve the property, providing established utility infrastructure for its commercial use.
Building systems include central heating using natural gas and central air conditioning powered by electricity. Public water and public sewer serve the property, providing established utility infrastructure for its commercial use.
Key Highlights
- 0.776‑acre commercial parcel at 1123 N Main Street, Cleburne, TX 76033
- 1974 construction with brick, block, frame, and concrete materials
- Concrete and tile flooring
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
$28,715
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
6.38%
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%
$574,300
$574.3K
Cap Rate 7%
$410,214
$410.2K
Cap Rate 9%
$319,056
$319.1K
Market Conditions
NOI Build-Up for 2,836 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
$51.0K $18.00/SF
− Vacancy
−$5.1K −$1.80/SF
EGI
$45.9K $16.20/SF
− OpEx
−$17.2K −$6.07/SF
NOI
$28.7K $10.13/SF
Area
Johnson County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$574,300
Cap Rate 7%
$410,214
Cap Rate 9%
$319,056
Alternative Uses
Best Use
Office B
$677.7K
$593.0K – $790.6K
NOI $47,438 @ 7.0% cap · market cap 10.54%
Second Best
Retail
$672.5K
$588.4K – $784.6K
NOI $47,073 @ 7.0% cap · market cap 10.46%
Theoretical Best
Multifamily LT 5
$33.99M
$29.74M – $39.66M
NOI $2,379,590 @ 7.0% cap · market cap 528.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Explore this area
Business Placement
Demographics for 76033, TX
27,243
Population
10,962
Households
2.5
Avg Household Size
39
Median Age
21%
College-Educated
88%
High-School Grad
176.1 sq mi
ZIP Area
155
Density / Sq Mi
$69,870
Median Household Income
$40,168
Median Earnings
$1,287
Median Rent
$230,600
Median Home Value
Market
Vacancy Rate% for Office 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?
Mixed-use property - Flexible commercial space with public water and sewer, central HVAC, and a combination of concrete and tile flooring.
Where is this mixed-use property located?
The property is located at 1123 N Main Street Cleburne, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 0.776‑acre commercial parcel at 1123 N Main Street, Cleburne, TX 76033; 1974 construction with brick, block, frame, and concrete materials; Concrete and tile flooring
