Flex Space with Six Bay
For Sale
$599,000
Pending
308 S Beaton Street, Corsicana, TX 75110
CommercialSale, Corsicana, TX
Property Size6,872 SF
Lot Size0.29 Acres
Days on Market55
Property Features for 308 S Beaton Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Parking features
Driveway, Parking Lot
Security features
Security
Subdivision
Corsicana
Directions
Head south on Beaton St from downtown Corsicana; property is on the right shortly after Collin St. SOP
Standard status
Pending
APN
40596
Lot size
0.29 Acres
Taxes and HOA fees
Tax Description
C0000 CORSICANA BLK 247 LOT 4 THRU 8 .287 ACR
Tax Annual Amount
4699
Legal Description
C0000 CORSICANA BLK 247 LOT 4 THRU 8 .287 ACR
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
spray foam insulation
two vehicle lifts
private offices
bathroom
kitchen area
storage space
TPO membrane roof
Building Details
Year built
1900
Floors in Building
2
Number of units
1
Flooring type
Carpet, Vinyl, Concrete
Building materials
Brick, Plaster
Roof type
Flat, Synthetic
Listing Agency:
Premier Realty
(903) 205-1717
Listed By:
Courtney Nelson · License #0641859
(903) 467-9654
Added: Jul 11
Changed: Aug 27
Last Checked: Sep 3 at 1:06AM
MLS# 21192769
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 combines an automotive service layout with separate administrative and storage areas. The workshop measures approximately 2,600 square feet and includes a restroom, six bay doors, and spray foam insulation across approximately half of the shop area. Two vehicle lifts convey with the property. A separate 2,072-square-foot climate-controlled section contains four private offices, a bathroom, and a kitchen area.
The upper level provides approximately 2,000 square feet of non-climate-controlled space divided among multiple storage rooms. Building systems include central heating and central air, while the property has a flat synthetic roof described as a 2 to 3 year old TPO membrane. Brick and plaster construction, concrete flooring in portions of the building, public water, and public sewer are also reported. The property is located at 308 S Beaton Street in Corsicana, Texas, with driveway and parking-lot areas on site.
The upper level provides approximately 2,000 square feet of non-climate-controlled space divided among multiple storage rooms. Building systems include central heating and central air, while the property has a flat synthetic roof described as a 2 to 3 year old TPO membrane. Brick and plaster construction, concrete flooring in portions of the building, public water, and public sewer are also reported. The property is located at 308 S Beaton Street in Corsicana, Texas, with driveway and parking-lot areas on site.
Key Highlights
- Six bay doors support the existing automotive service configuration
- Approximately 2,600 square feet of workshop space with a restroom
- 2,072 square feet of climate‑controlled area with four private offices, bathroom, and kitchen
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
$44,076
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
7.36%
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%
$881,520
$881.5K
Cap Rate 7%
$629,657
$629.7K
Cap Rate 9%
$489,733
$489.7K
Market Conditions
NOI Build-Up for 6,872 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
$69.3K $10.08/SF
− Vacancy
−$6.3K −$0.92/SF
EGI
$63.0K $9.16/SF
− OpEx
−$18.9K −$2.75/SF
NOI
$44.1K $6.41/SF
Area
Navarro County, TX
Vacancy
9.10%
Lease Rate
$10.08 /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%
$881,520
Cap Rate 7%
$629,657
Cap Rate 9%
$489,733
Alternative Uses
Best Use
Office B
$1.64M
$1.44M – $1.92M
NOI $114,948 @ 7.0% cap · market cap 19.19%
Second Best
Retail
$1.63M
$1.43M – $1.90M
NOI $114,064 @ 7.0% cap · market cap 19.04%
Theoretical Best
Multifamily LT 5
$75.50M
$66.06M – $88.08M
NOI $5,284,727 @ 7.0% cap · market cap 882.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Service bays
Location Intelligence
Trade Area within ½ mile
1,243
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75110, TX
30,336
Population
11,980
Households
2.5
Avg Household Size
35
Median Age
17%
College-Educated
77%
High-School Grad
137.5 sq mi
ZIP Area
221
Density / Sq Mi
$53,053
Median Household Income
$29,804
Median Earnings
$1,043
Median Rent
$169,200
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 - Adaptable commercial building combines service, office, storage, and equipment areas for automotive or other service-oriented operations.
Where is this flex space located?
The property is located at 308 S Beaton Street Corsicana, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Six bay doors support the existing automotive service configuration; Approximately 2,600 square feet of workshop space with a restroom; 2,072 square feet of climate‑controlled area with four private offices, bathroom, and kitchen
