Flex Space Warehouse with Overhead
For Sale
$2,500,000
1024 Us-377, Pilot Point, TX 76258
COMMERCIAL - Pilot Point, TX
Property Size9,200 SF
Lot Size0.78 Acres
Price / SF$271.74
Days on Market41
Property Features for 1024 Us-377
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-2
Parking features
Driveway
Subdivision
B R Add
Directions
Property is directly on Hwy 377 on the north side of Pilot Point. Going North on 377 through Pilot Point, property will be on the left.
Standard status
Active
APN
R160029
Lot size
0.78 Acres
Taxes and HOA fees
Tax Description
B. R. ADDN BLK 1 LOT 1
Tax Annual Amount
6778
Legal Description
B. R. ADDN BLK 1 LOT 1
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1982
Floors in Building
1
Number of units
2
Flooring type
Concrete, Laminate
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Keller Williams Realty
(940) 484-9411
Listed By:
Benjamin Clark · License #0611947
(940) 484-9411
Added: Jun 30
Changed: Aug 9
Last Checked: Aug 9 at 11:06AM
MLS# 21292004
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.
Flex space warehouse property located at 1024 US-377 in Pilot Point, Texas, featuring approximately 9,200 square feet of warehouse, office, and flex space. The property consists of two connected buildings, creating a seamless layout for manufacturing, distribution, service operations, or storage, as well as owner-occupant use.
The front office area includes a reception or conference room, two private offices, and a half bath with direct access to the warehouse. The warehouse is designed for functionality with multiple ground level overhead doors, abundant natural light, a second half bath, 13 foot ceilings, and ample onsite parking. The buildings are constructed with metal siding and include a metal roof, with central heating and central air.
Significant capital improvements were completed in 2020, including a new roof, updated walls, HVAC system for the office area, and upgraded electrical systems. The property sits on a 0.78-acre lot and is served by public water and public sewer, with frontage and visibility positioned directly on US 377.
The front office area includes a reception or conference room, two private offices, and a half bath with direct access to the warehouse. The warehouse is designed for functionality with multiple ground level overhead doors, abundant natural light, a second half bath, 13 foot ceilings, and ample onsite parking. The buildings are constructed with metal siding and include a metal roof, with central heating and central air.
Significant capital improvements were completed in 2020, including a new roof, updated walls, HVAC system for the office area, and upgraded electrical systems. The property sits on a 0.78-acre lot and is served by public water and public sewer, with frontage and visibility positioned directly on US 377.
Key Highlights
- Approximately 9,200 SF flex space warehouse, office, and flex space across two connected buildings
- Multiple ground level overhead doors for warehouse operations
- 13 foot ceilings and abundant natural light in the warehouse
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
$127,926
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
5.12%
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%
$2,558,520
$2.6M
Cap Rate 7%
$1,827,514
$1.8M
Cap Rate 9%
$1,421,400
$1.4M
Market Conditions
NOI Build-Up for 9,200 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
$227.4K $24.72/SF
− Vacancy
−$56.9K −$6.18/SF
EGI
$170.6K $18.54/SF
− OpEx
−$42.6K −$4.64/SF
NOI
$127.9K $13.91/SF
Area
Denton County, TX
Vacancy
25.00%
Lease Rate
$24.72 /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%
$2,558,520
Cap Rate 7%
$1,827,514
Cap Rate 9%
$1,421,400
Alternative Uses
Best Use
Office B
$1.83M
$1.60M – $2.13M
NOI $127,926 @ 7.0% cap · market cap 5.12%
Second Best
Warehouse
$819.1K
$716.8K – $955.7K
NOI $57,340 @ 7.0% cap · market cap 2.29%
Theoretical Best
Multifamily LT 5
$128.66M
$112.57M – $150.10M
NOI $9,005,970 @ 7.0% cap · market cap 360.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13 ft
Clear height
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76258, TX
7,409
Population
3,079
Households
2.4
Avg Household Size
41
Median Age
30%
College-Educated
82%
High-School Grad
90.3 sq mi
ZIP Area
82
Density / Sq Mi
$93,661
Median Household Income
$51,382
Median Earnings
$1,224
Median Rent
$320,200
Median Home Value
Market
Vacancy Rate% for Office 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 - Flex space warehouse with multiple ground-level overhead doors, office area, and frontage on US 377 in Pilot Point.
Where is this flex space located?
The property is located at 1024 Us-377 Pilot Point, TX.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Approximately 9,200 SF flex space warehouse, office, and flex space across two connected buildings; Multiple ground level overhead doors for warehouse operations; 13 foot ceilings and abundant natural light in the warehouse
