Office-Warehouse Flex
For Sale
$1,399,999
1920 S 3rd Street, Mabank, TX 75147
CommercialSale, Mabank, TX
Property Size5,000 SF
Lot Size2.93 Acres
Price / SF$279
Days on Market59
Property Features for 1920 S 3rd Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C1
Parking features
Garage, Carport, Parking Lot
Security features
Security
Lot features
Acreage, Backs To Greenbelt Park, Landscaped, Sprinkler System
Directions
From Mabank and Hwy. 175, drive south on Hwy. 198, property will be on your left, near Tractor Supply.
Standard status
Active
APN
079404100A0051
Lot size
2.93 Acres
Taxes and HOA fees
Tax Description
AB 794 G T WALTERS SUR, TR 41A
Tax Annual Amount
15792
Legal Description
AB 794 G T WALTERS SUR, TR 41A
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
Conference Room
Kitchen Break Area
Copier Workroom
Security Video Cameras
Building Details
Year built
1999
Floors in Building
1
Number of units
1
Flooring type
Concrete, Vinyl
Building materials
MetalSiding, Rock, Stone
Roof type
Metal
Listing Agency:
TX Lake & Land Real Estate
(903) 802-7080
Listed By:
Courtney Dickens Johnson · License #0607334
(214) 532-8327
Added: Jul 6
Changed: Aug 21
Last Checked: Sep 2 at 5:06AM
MLS# 21309451
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 2.93-acre flex property in Mabank includes approximately 5,000 square feet of improvements, divided between 2,500 square feet of finished office space and 2,500 square feet of warehouse area. The office component contains 14 private offices, a conference room, kitchen break area, two bathrooms, and a copier workroom. Warehouse features include two high-bay overhead doors and storage above the office area. Covered parking totals approximately 3,750 square feet, with 16 office parking spaces, including 12 covered and 4 uncovered spaces.
The property fronts Hwy 198 and includes four billboards, a front sign location with electrical service, perimeter high fencing, and outdoor RV, boat, and trailer storage. Public water and sewer serve the site. The location is approximately one hour from downtown Dallas and Tyler and is near the Cedar Creek Lake area. Existing office rentals, storage operations, and billboard revenue are in place.
The property fronts Hwy 198 and includes four billboards, a front sign location with electrical service, perimeter high fencing, and outdoor RV, boat, and trailer storage. Public water and sewer serve the site. The location is approximately one hour from downtown Dallas and Tyler and is near the Cedar Creek Lake area. Existing office rentals, storage operations, and billboard revenue are in place.
Key Highlights
- 2.93‑acre site with approximately 5,000 total square feet of improvements
- 2,500 square feet of finished office space with 14 private offices
- 2,500 square feet of warehouse area with two high‑bay overhead doors
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
$83,635
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
5.97%
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%
$1,672,700
$1.7M
Cap Rate 7%
$1,194,786
$1.2M
Cap Rate 9%
$929,278
$929.3K
Market Conditions
NOI Build-Up for 5,000 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
$153.6K $30.72/SF
− Vacancy
−$42.1K −$8.42/SF
EGI
$111.5K $22.30/SF
− OpEx
−$27.9K −$5.58/SF
NOI
$83.6K $16.73/SF
Area
Henderson County, TX
Vacancy
27.40%
Lease Rate
$30.72 /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%
$1,672,700
Cap Rate 7%
$1,194,786
Cap Rate 9%
$929,278
Alternative Uses
Best Use
Office B
$1.19M
$1.05M – $1.39M
NOI $83,635 @ 7.0% cap · market cap 5.97%
Second Best
Flex RnD
$752.1K
$658.1K – $877.5K
NOI $52,650 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,120 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 75147, TX
7,781
Population
3,302
Households
2.4
Avg Household Size
40
Median Age
19%
College-Educated
86%
High-School Grad
86.2 sq mi
ZIP Area
90
Density / Sq Mi
$60,520
Median Household Income
$34,572
Median Earnings
$899
Median Rent
$238,700
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 - The site combines finished offices, warehouse capacity, covered parking, and secured outdoor storage with public utilities.
Where is this flex space located?
The property is located at 1920 S 3rd Street Mabank, TX.
What is the asking price?
The asking price for this property is $1,399,999.
What are key features of this property?
This property features: 2.93‑acre site with approximately 5,000 total square feet of improvements; 2,500 square feet of finished office space with 14 private offices; 2,500 square feet of warehouse area with two high‑bay overhead doors
