Industrial Flex Facility with
For Sale
$598,000
309 Fergason Road, Cleburne, TX 76031
CommercialSale, Cleburne, TX
Property Size4,200 SF
Lot Size1.00 Acre
Price / SF$142.38
Days on Market12
Property Features for 309 Fergason Road
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Irregular Lot
Directions
From Cleburne go East on Henderson to Fergason. Turn Left heading North on Fergason. 309 Fergason is on your left just past the elementary school.
Standard status
Active
APN
126068000332
Lot size
1.00 Acre
Taxes and HOA fees
Tax Description
ABST 680 TR 6 PT WM PARKER
Legal Description
ABST 680 TR 6 PT WM PARKER
Utilities
Sewer type
Aerobic Septic
Heating system
Electric (Heating)
Cooling system
Electric
Building Details
Year built
1996
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
WELCOMBE HOME LLC
(817) 800-0007
Listed By:
Dan Combe · License #0602562
(817) 800-0007
Added: Aug 21
Changed: Sep 1
Last Checked: Sep 1 at 4:06PM
MLS# 21171206
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.
Located at 309 Fergason Road in Cleburne, this 4,200-square-foot flex facility sits on approximately 1 acre and was built in 1996. The metal building has concrete flooring, a dedicated office, a private restroom, and an open interior that has been cleared for a new occupant or owner. Five overhead garage doors provide multiple loading points, while industrial ventilation fans support airflow throughout the workspace.
The property is positioned just east of Henderson Street and is served by an updated aerobic septic system. Electric heating and cooling are in place, along with a metal roof. The combination of open industrial area, office space, loading access, and existing building systems provides a straightforward configuration for a range of flex-space operations.
The property is positioned just east of Henderson Street and is served by an updated aerobic septic system. Electric heating and cooling are in place, along with a metal roof. The combination of open industrial area, office space, loading access, and existing building systems provides a straightforward configuration for a range of flex-space operations.
Key Highlights
- 4,200‑square‑foot flex facility on approximately 1 acre
- Five overhead garage doors provide multiple loading points
- Dedicated professional office and private restroom
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
$29,206
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
4.88%
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%
$584,120
$584.1K
Cap Rate 7%
$417,229
$417.2K
Cap Rate 9%
$324,511
$324.5K
Market Conditions
NOI Build-Up for 4,200 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
$37.8K $9.00/SF
− Vacancy
−$3.4K −$0.82/SF
EGI
$34.4K $8.18/SF
− OpEx
−$5.2K −$1.23/SF
NOI
$29.2K $6.95/SF
Area
Johnson County, TX
Vacancy
9.10%
Lease Rate
$9.00 /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%
$584,120
Cap Rate 7%
$417,229
Cap Rate 9%
$324,511
Alternative Uses
Best Use
Warehouse
$417.2K
$365.1K – $486.8K
NOI $29,206 @ 7.0% cap · market cap 4.88%
Second Best
Industrial
$310.0K
$271.3K – $361.7K
NOI $21,700 @ 7.0% cap · market cap 3.63%
Theoretical Best
Multifamily LT 5
$50.34M
$44.05M – $58.73M
NOI $3,524,075 @ 7.0% cap · market cap 589.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 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 construction, concrete floors, office space, and a private restroom support adaptable commercial operations.
Where is this flex space located?
The property is located at 309 Fergason Road Cleburne, TX.
What is the asking price?
The asking price for this property is $598,000.
What are key features of this property?
This property features: 4,200‑square‑foot flex facility on approximately 1 acre; Five overhead garage doors provide multiple loading points; Dedicated professional office and private restroom
