Flex Space with Roll-Up
For Sale
$650,000
23350 US Highway 377, Whitesboro, TX 76273
CommercialSale, Whitesboro, TX
Property Size3,000 SF
Lot Size1.50 Acres
Price / SF$216.67
Days on Market149
Property Features for 23350 US Highway 377
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Covered, Driveway, Gated
Subdivision
Tuttle Ashel
Directions
From Hwy 82 in Whitesboro. Go North approx 4 miles on Hwy 377. Property will be on the right.
Standard status
Active
APN
114375
Lot size
1.50 Acres
Taxes and HOA fees
Tax Description
TUTTLE ASHEL A-G1193, AC 2.99, , DBA K M C
Tax Annual Amount
3247
Legal Description
TUTTLE ASHEL A-G1193, AC 2.99, , DBA K M C
Utilities
Sewer type
Aerobic Septic
Building Details
Year built
2001
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Texas Homes and Land
(214) 908-5468
Listed By:
Coryann Johnson · License #0450333
(214) 908-5468
Added: Mar 31
Changed: Aug 25
Last Checked: Aug 26 at 3:06PM
MLS# 20321580
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 flex property includes a north building with three roll-up bays, a dedicated office area, reception space, and two half baths. One bay is separated from the others for independent rental use. The building has central heat and air in the office, concrete flooring, and a metal roof. Internet service is available through Rise Broadband.
Set on 1.5 acres along US Highway 377 in Whitesboro, the property includes gated driveway access and covered parking. Water is supplied by Rural Water, while wastewater is handled through an aerobic septic system. Built in 2001, the improvements provide a combination of service-bay and office functionality for commercial operations.
Set on 1.5 acres along US Highway 377 in Whitesboro, the property includes gated driveway access and covered parking. Water is supplied by Rural Water, while wastewater is handled through an aerobic septic system. Built in 2001, the improvements provide a combination of service-bay and office functionality for commercial operations.
Key Highlights
- 1.5‑acre commercial property on US Highway 377
- North building with 3 roll‑up bays
- 36ft x 16ft office with central heat and air
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
$18,977
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
2.92%
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%
$379,540
$379.5K
Cap Rate 7%
$271,100
$271.1K
Cap Rate 9%
$210,856
$210.9K
Market Conditions
NOI Build-Up for 3,000 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
$24.5K $8.16/SF
− Vacancy
−$2.2K −$0.72/SF
EGI
$22.3K $7.44/SF
− OpEx
−$3.3K −$1.12/SF
NOI
$19.0K $6.33/SF
Area
Grayson County, TX
Vacancy
8.80%
Lease Rate
$8.16 /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%
$379,540
Cap Rate 7%
$271,100
Cap Rate 9%
$210,856
Alternative Uses
Best Use
Warehouse
$271.1K
$237.2K – $316.3K
NOI $18,977 @ 7.0% cap · market cap 2.92%
Second Best
Industrial
$223.3K
$195.4K – $260.5K
NOI $15,628 @ 7.0% cap · market cap 2.40%
Theoretical Best
Hotel Hospitality
$1.54M
$1.35M – $1.80M
NOI $107,730 @ 7.0% cap · market cap 16.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76273, TX
9,857
Population
4,182
Households
2.4
Avg Household Size
43
Median Age
20%
College-Educated
92%
High-School Grad
206.9 sq mi
ZIP Area
48
Density / Sq Mi
$80,244
Median Household Income
$41,441
Median Earnings
$1,171
Median Rent
$234,400
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?
Flex space - Metal-clad commercial property with office space, gated access, and covered parking.
Where is this flex space located?
The property is located at 23350 US Highway 377 Whitesboro, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1.5‑acre commercial property on US Highway 377; North building with 3 roll‑up bays; 36ft x 16ft office with central heat and air
