Flex Building With Warehouse
For Sale
$235,000
1021 Park St, Commerce, TX 75428
Commercial zoning and a mixed office-warehouse layout accommodate varied business operations.
Property Size3,000 SF
Price / SF$78.33
Days on Market87
Property Features for 1021 Park St
General Information
Standard status
Active
Size
3,000 SF
Warehouse & Industrial
Warehouse Space
1,500 SF
Office Build-Out
1,500 SF
Additional Details
Furnished
Yes
Amenities
central heat and air
gas heat
security system
Building Details
Year Built
1975
Buildings
1
Building Size
3,000 SF
Construction
brick and metal
Listing Agency:
Freedom Realty
Listed By:
Marlin Jones · License #0313227
(903) 335-8921
Source:
Minteerteam
Added: Jul 20
Changed: Oct 14
Last Checked: Oct 7 at 2:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Freedom Realty
Investment Insights
Based on property information with market context.
This flex property includes a 3,000-square-foot building with 1,500 square feet of office area and an additional 1,500 square feet of warehouse space. The office portion includes two half baths, central heat and air, gas heat, and a security system. The warehouse area is configured for potential office construction. Brick and metal exterior materials complete the building.
The property occupies almost 1 acre in downtown Commerce and includes 11,000 square feet of asphalt parking. Commercial zoning supports a range of business uses, while the combination of office, warehouse, and parking areas provides a practical commercial configuration. Office furniture may remain if needed.
The property occupies almost 1 acre in downtown Commerce and includes 11,000 square feet of asphalt parking. Commercial zoning supports a range of business uses, while the combination of office, warehouse, and parking areas provides a practical commercial configuration. Office furniture may remain if needed.
Key Highlights
- Almost 1 acre in downtown Commerce
- 3,000 square foot building with 1,500 square feet of office space
- Additional 1,500 square feet of warehouse area ready for office construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,862
Cap Rate
8.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$417,240
$417.2K
Cap Rate 7%
$298,029
$298.0K
Cap Rate 9%
$231,800
$231.8K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$27.0K $9.00/SF
− Vacancy
−$2.5K −$0.82/SF
EGI
$24.5K $8.18/SF
− OpEx
−$3.7K −$1.23/SF
NOI
$20.9K $6.95/SF
Area
Hunt 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 Rate 5%
$417,240
Cap Rate 7%
$298,029
Cap Rate 9%
$231,800
Alternative Uses
Best Use
Industrial
$2.98M
$2.61M – $3.48M
NOI $208,669 @ 7.0% cap · market cap 88.80%
Second Best
Office B
$543.5K
$475.6K – $634.1K
NOI $38,046 @ 7.0% cap · market cap 16.19%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75428, TX
11,192
Population
4,616
Households
2.4
Avg Household Size
28
Median Age
23%
College-Educated
85%
High-School Grad
92.9 sq mi
ZIP Area
120
Density / Sq Mi
$48,372
Median Household Income
$23,299
Median Earnings
$910
Median Rent
$145,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial zoning and a mixed office-warehouse layout accommodate varied business operations.
Where is this flex space located?
The property is located at 1021 Park St Commerce, TX.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Almost 1 acre in downtown Commerce; 3,000 square foot building with 1,500 square feet of office space; Additional 1,500 square feet of warehouse area ready for office construction
