Single-Tenant Net-Leased
For Sale
Contact for pricing
106 Cleburne Ave, Weatherford, TX 76086
Spec’s occupies the building under a long-term lease with scheduled rent increases and renewal options.
Property Size8,624 SF
Price / SF$523.38
Days on Market216
Property Features for 106 Cleburne Ave
General Information
Standard status
Active
Size
8,624 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$282,100
Additional Details
Traffic Count
29,600 vehicles/day
Building Details
Year Built
2020
Buildings
1
Tenancy
Single
Listing Agency:
Bang Realty
(888) 737-2264
Listed By:
Brian Brockman · License #378952
Source:
Crexi
Added: Jan 26
Changed: Aug 30
Last Checked: Aug 30 at 3:09AM
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 Bang Realty
Investment Insights
Based on property information with market context.
Completed in 2020, this 8,624-square-foot retail building is leased to Spec’s Wines, Spirits & Finer Foods, a Texas-based retailer with more than 200 locations statewide. The current lease extends through September 2035 and includes 10% increases during the primary term, followed by 3% increases in each of two five-year renewal options.
The property is positioned at 106 Cleburne Ave in Weatherford along TX-171, where traffic is reported at more than 29,600 vehicles per day. Interstate 20 is nearby and carries approximately 65,000 vehicles per day. Weatherford College is within walking distance, while Medical City Weatherford and Weatherford High School are additional nearby traffic generators. The surrounding retail environment includes Target, Best Buy, Lowe’s, The Home Depot, Walmart Supercenter, Tractor Supply Company, Goodwill, Ross, and HomeGoods.
The property is positioned at 106 Cleburne Ave in Weatherford along TX-171, where traffic is reported at more than 29,600 vehicles per day. Interstate 20 is nearby and carries approximately 65,000 vehicles per day. Weatherford College is within walking distance, while Medical City Weatherford and Weatherford High School are additional nearby traffic generators. The surrounding retail environment includes Target, Best Buy, Lowe’s, The Home Depot, Walmart Supercenter, Tractor Supply Company, Goodwill, Ross, and HomeGoods.
Key Highlights
- Single‑tenant Spec’s Wines, Spirits & Finer Foods location
- 8,624‑square‑foot building completed in 2020
- Lease extends through September 2035
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
$148,520
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
3.29%
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%
$2,970,400
$3.0M
Cap Rate 7%
$2,121,714
$2.1M
Cap Rate 9%
$1,650,222
$1.7M
Market Conditions
NOI Build-Up for 8,624 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
$208.0K $24.12/SF
− Vacancy
−$10.0K −$1.16/SF
EGI
$198.0K $22.96/SF
− OpEx
−$49.5K −$5.74/SF
NOI
$148.5K $17.22/SF
Area
Parker County, TX
Vacancy
4.80%
Lease Rate
$24.12 /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%
$2,970,400
Cap Rate 7%
$2,121,714
Cap Rate 9%
$1,650,222
Alternative Uses
Best Use
Specialty Retail
$2.12M
$1.86M – $2.48M
NOI $148,520 @ 7.0% cap · market cap 3.29%
Second Best
Retail
$1.98M
$1.73M – $2.31M
NOI $138,764 @ 7.0% cap · market cap 3.07%
Theoretical Best
Industrial
$8.57M
$7.50M – $10.00M
NOI $599,853 @ 7.0% cap · market cap 13.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
29,600 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
463k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 29%
Shops & Services 24%
Home Improvements & Furnishings 18%
Apparel 17%
Academy Sports + Outdoors
Apparel
62,727 visits/mo
0.4 miles
The Home Depot
Home Improvements & Furnishings
47,895 visits/mo
0.4 miles
Hobby Lobby
Shops & Services
40,480 visits/mo
0.4 miles
RaceTrac
Shops & Services
39,174 visits/mo
0.2 miles
Raising Cane's Chicken Fingers
Dining
35,092 visits/mo
0.3 miles
Demographics for 76086, TX
21,429
Population
9,689
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
13.8 sq mi
ZIP Area
1,553
Density / Sq Mi
$61,415
Median Household Income
$38,347
Median Earnings
$1,389
Median Rent
$235,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Spec’s occupies the building under a long-term lease with scheduled rent increases and renewal options.
Where is this nnn property located?
The property is located at 106 Cleburne Ave Weatherford, TX.
What is the asking price?
The asking price for this property is $4,513,600.
What are key features of this property?
This property features: Single‑tenant Spec’s Wines, Spirits & Finer Foods location; 8,624‑square‑foot building completed in 2020; Lease extends through September 2035
