Four-Bay Automotive
For Sale
$425,000
206 Watters Street, Cleburne, TX 76031
CommercialSale, Cleburne, TX
Property Size3,320 SF
Lot Size0.23 Acres
Price / SF$128.01
Days on Market159
Property Features for 206 Watters Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Garage, Driveway, Open, Secured, Oversize
Subdivision
Original Cleburn
Lot features
Interior Lot
Directions
South on Main St. Left on Second Street Toward Grandview, left on S. Kouns, Left on Waters. Property down on the left. SOP
Standard status
Active
APN
126280020840
Size
3,320 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
LOT 1 NW PT BLK 370 ORIGINAL CLEBURNE 126.552
Tax Annual Amount
3405
Legal Description
LOT 1 NW PT BLK 370 ORIGINAL CLEBURNE 126.552
Utilities
Sewer type
Public Sewer
Heating system
Space Heater
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1994
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Keller Williams Brazos West · Keller Williams Realty
(817) 279-6996
Listed By:
Paula Maples · License #0557491
(817) 441-4000
Added: Mar 24
Changed: Aug 19
Last Checked: Aug 29 at 3:06AM
MLS# 21159221
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 3,320-square-foot automotive facility was built in 1994 and arranged for vehicle service operations. The building provides four service bays, three car lifts, a dedicated owner’s office, and additional office space that is currently suitable for rental use or operational overflow. Concrete flooring, metal siding, a metal roof, window-unit cooling, and space-heater heating are also in place.
The 0.225-acre site supports vehicle circulation with garage, driveway, open, secured, and oversize parking features. The property is fully fenced and connected to public water and public sewer, providing a practical setup for automotive repair, maintenance, or specialty service operations.
The 0.225-acre site supports vehicle circulation with garage, driveway, open, secured, and oversize parking features. The property is fully fenced and connected to public water and public sewer, providing a practical setup for automotive repair, maintenance, or specialty service operations.
Key Highlights
- 3,320 SF automotive facility on a 0.225‑acre site
- Four service bays with three car lifts
- Dedicated owner’s office plus additional office space suitable for rental use
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
$17,154
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
4.04%
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%
$343,080
$343.1K
Cap Rate 7%
$245,057
$245.1K
Cap Rate 9%
$190,600
$190.6K
Market Conditions
NOI Build-Up for 3,320 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
$27.0K $8.12/SF
− Vacancy
−$2.5K −$0.74/SF
EGI
$24.5K $7.38/SF
− OpEx
−$7.4K −$2.21/SF
NOI
$17.2K $5.17/SF
Area
Johnson County, TX
Vacancy
9.10%
Lease Rate
$8.12 /SF/Yr
Expense Ratio
30.00%
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%
$343,080
Cap Rate 7%
$245,057
Cap Rate 9%
$190,600
Alternative Uses
Best Use
Retail
$787.2K
$688.8K – $918.5K
NOI $55,107 @ 7.0% cap · market cap 12.97%
Second Best
Industrial
$245.1K
$214.4K – $285.9K
NOI $17,154 @ 7.0% cap · market cap 4.04%
Theoretical Best
Multifamily LT 5
$39.80M
$34.82M – $46.43M
NOI $2,785,697 @ 7.0% cap · market cap 655.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
3k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
2,938 visits/mo
0.5 miles
Demographics for 76031, TX
18,398
Population
6,596
Households
2.8
Avg Household Size
38
Median Age
15%
College-Educated
81%
High-School Grad
72.7 sq mi
ZIP Area
253
Density / Sq Mi
$70,672
Median Household Income
$39,335
Median Earnings
$1,274
Median Rent
$203,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- gOOOdWheels Inc — 1111 S Main St, Cleburne, TX 76033
- Cox Diesel & Automotive — 1006 S Main St, Cleburne, TX 76033
- Rodriguez Automotive — 911 s main st, cleburne, tx 76033
- Tire Store Service Center — 1002 S Caddo St, Cleburne, TX 76031
- Dennis Auto Center — 202 E 3rd St, Cleburne, TX 76031
Frequently Asked Questions
What type of property is this?
Auto shop - Functional repair facility with vehicle lifts, offices, secured parking, and flexible automotive service capability.
Where is this auto shop located?
The property is located at 206 Watters Street Cleburne, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,320 SF automotive facility on a 0.225‑acre site; Four service bays with three car lifts; Dedicated owner’s office plus additional office space suitable for rental use
