Office Unit with On-Site
For Sale
Under Contract
$389,000
603 N Nolan River Road, Cleburne, TX 76033
CommercialSale, Cleburne, TX
Property Size1,500 SF
Lot Size0.22 Acres
Price / SF$259.33
Days on Market46
Property Features for 603 N Nolan River Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Parking features
Carport
Security features
Security
Fireplace
1
Subdivision
Sequoya Park
Lot features
Sprinkler System
Directions
GPS. Close to Hwy 67
Standard status
Active Under Contract
APN
126301001020
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
LOT 27R BLK 5 SEQUOYA PARK 126.5528.39700
Tax Annual Amount
5111
Legal Description
LOT 27R BLK 5 SEQUOYA PARK 126.5528.39700
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas, Fireplace(s)
Cooling system
Electric, Central Air, Ceiling Fan(s)
Water source
Public
Amenities
kitchen and break area
storage
Building Details
Year built
1995
Floors in Building
1
Number of units
1
Flooring type
Carpet, Tile
Building materials
Brick
Roof type
Composition
Listing Agency:
NextHome on Main
(469) 946-6398
Listed By:
Ginger Smith · License #0686824
(469) 865-6882
Added: Jul 11
Changed: Aug 21
Last Checked: Aug 25 at 5:06AM
MLS# 21301959
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 office unit at 603 N Nolan River Road provides four large office rooms, a kitchen and break area, and dedicated storage. Carpet and tile flooring, central air conditioning, central heating, ceiling fans, and a fireplace are included among the interior features. The building was constructed in 1995 with brick construction and a composition roof.
The property occupies 0.221 acres and includes a carport for on-site parking. Public water and public sewer serve the property. The location is in Cleburne, Texas, with access along North Nolan River Road and proximity to shopping, dining, established businesses, and major thoroughfares. Showings are available by appointment with 24-hour notice.
The property occupies 0.221 acres and includes a carport for on-site parking. Public water and public sewer serve the property. The location is in Cleburne, Texas, with access along North Nolan River Road and proximity to shopping, dining, established businesses, and major thoroughfares. Showings are available by appointment with 24-hour notice.
Key Highlights
- Four large office spaces with kitchen, break area, and storage
- 0.221‑acre commercial property at 603 N Nolan River Road
- Carport parking available on site
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
$25,091
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
6.45%
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%
$501,820
$501.8K
Cap Rate 7%
$358,443
$358.4K
Cap Rate 9%
$278,789
$278.8K
Market Conditions
NOI Build-Up for 1,500 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
$46.1K $30.72/SF
− Vacancy
−$12.6K −$8.42/SF
EGI
$33.5K $22.30/SF
− OpEx
−$8.4K −$5.58/SF
NOI
$25.1K $16.73/SF
Area
Johnson 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%
$501,820
Cap Rate 7%
$358,443
Cap Rate 9%
$278,789
Alternative Uses
Best Use
Office B
$358.4K
$313.6K – $418.2K
NOI $25,091 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$17.98M
$15.73M – $20.98M
NOI $1,258,598 @ 7.0% cap · market cap 323.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 76033, TX
27,243
Population
10,962
Households
2.5
Avg Household Size
39
Median Age
21%
College-Educated
88%
High-School Grad
176.1 sq mi
ZIP Area
155
Density / Sq Mi
$69,870
Median Household Income
$40,168
Median Earnings
$1,287
Median Rent
$230,600
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?
Office units - Four-office commercial unit with a staff kitchen, break area, storage, and convenient access for employees and visitors.
Where is this office units located?
The property is located at 603 N Nolan River Road Cleburne, TX.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Four large office spaces with kitchen, break area, and storage; 0.221‑acre commercial property at 603 N Nolan River Road; Carport parking available on site
