Flex Warehouse with Contractor
For Sale
$899,999
121 Pistol Road, Weatherford, TX 76085
CommercialSale, Weatherford, TX
Property Size7,800 SF
Lot Size2.04 Acres
Price / SF$115.38
Days on Market104
Property Features for 121 Pistol Road
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
Unincorporated. No Zoning
Parking features
Oversize, Open, Garage
Subdivision
Hd Green Add
Lot features
Acreage, Cleared, Level
Directions
Google maps is accurate.
Standard status
Active
APN
R000106719
Size
7,800 SF
Lot size
2.04 Acres
Taxes and HOA fees
Tax Description
ACRES: 9.950 LOT: 2 BLK: 1 SUBD: H D GREEN AD
Tax Annual Amount
9
Legal Description
ACRES: 9.950 LOT: 2 BLK: 1 SUBD: H D GREEN AD
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Well
Building Details
Year built
2023
Floors in Building
1
Number of units
1
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
The Michael Group Real Estate
(817) 577-9000
Listed By:
Charles Horton · License #0546099
(214) 692-6400
Added: May 19
Changed: Aug 27
Last Checked: Aug 30 at 6:06PM
MLS# 21243471
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 flex property includes approximately 7,800 square feet of enclosed warehouse space, two offices, restrooms, overhead doors, and concrete slabs. The site also provides a fenced and gated outdoor storage yard, along with electric service and water from a well. Four horse stalls add an agricultural component to the property’s functional layout.
The offering comprises approximately 2.04 acres at 121 Pistol Road in Weatherford, within unincorporated Parker County. It is positioned just off Veal Station Road and carries no city zoning restrictions, supporting flexible industrial and service-oriented use. Metal siding, a metal roof, electric heating and cooling, and garage, oversize, and open parking features are included.
The offering comprises approximately 2.04 acres at 121 Pistol Road in Weatherford, within unincorporated Parker County. It is positioned just off Veal Station Road and carries no city zoning restrictions, supporting flexible industrial and service-oriented use. Metal siding, a metal roof, electric heating and cooling, and garage, oversize, and open parking features are included.
Key Highlights
- Approximately 7,800 SF enclosed warehouse with two offices and restrooms
- Approximately 2.04‑acre flex property in unincorporated Parker County
- Fenced and gated outdoor storage yard with concrete slabs
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
$57,190
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
6.35%
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%
$1,143,800
$1.1M
Cap Rate 7%
$817,000
$817.0K
Cap Rate 9%
$635,444
$635.4K
Market Conditions
NOI Build-Up for 7,800 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
$93.6K $12.00/SF
− Vacancy
−$5.6K −$0.72/SF
EGI
$88.0K $11.28/SF
− OpEx
−$30.8K −$3.95/SF
NOI
$57.2K $7.33/SF
Area
Parker County, TX
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,143,800
Cap Rate 7%
$817,000
Cap Rate 9%
$635,444
Alternative Uses
Best Use
Industrial
$7.75M
$6.78M – $9.04M
NOI $542,539 @ 7.0% cap · market cap 60.28%
Second Best
Flex RnD
$817.0K
$714.9K – $953.2K
NOI $57,190 @ 7.0% cap · market cap 6.35%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76085, TX
12,249
Population
4,027
Households
3
Avg Household Size
41
Median Age
20%
College-Educated
84%
High-School Grad
65.3 sq mi
ZIP Area
188
Density / Sq Mi
$102,014
Median Household Income
$41,911
Median Earnings
$1,699
Median Rent
$357,900
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?
Flex space - Under-construction flex space combines enclosed warehouse area, office support, and secured outdoor storage for varied operations.
Where is this flex space located?
The property is located at 121 Pistol Road Weatherford, TX.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Approximately 7,800 SF enclosed warehouse with two offices and restrooms; Approximately 2.04‑acre flex property in unincorporated Parker County; Fenced and gated outdoor storage yard with concrete slabs
