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at 111 County Road 237 Contact us

111 County Road 237

Size

9,100 SF

Type

INDUSTRIAL

Lease Type

GROSS

Availability

AVAILABLE

PROPERTY OVERVIEW • Available Space: ±9,100 SF under roof • Office/living ±1,480... SF • Land: ±36.60 AC mostly pasture but could be stabilized yard • Eave height: 16' • Loading: Three (3) grade-level doors • Floodplain: No floodplain issues • Utilities: City water and well Septic

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Listing Agency: Lee & Associates Show Phone

Listed By: Richard Glass · License #501767 Show Phone

Source: Moodyscre

Added: Dec 5, 2023 Changed: Aug 8 Last Checked: Sep 8 at 10:45AM

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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 Lee & Associates

Investment Insights

Based on property information with market context.

The property features approximately 9,100 square feet of space under roof, including about 1,480 square feet of office or living space. The land encompasses approximately 36.60 acres, primarily pastureland that could be converted into a stabilized yard. The warehouse has an eave height of 16 feet and is equipped with three grade-level doors for loading. City water and well septic utilities are available. The property is not located in a floodplain.

Key Highlights

• Large Land Parcel: ±36.60 AC, mostly pasture, with potential for stabilized yard.
• Substantial Space Under Roof: ±9,100 SF total area.
• Functional Office/Living Space: ±1,480 SF of dedicated office/living area.

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

$56,242

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

8.65%

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%

$1,124,840 $1.1M

Cap Rate 7%

$803,457 $803.5K

Cap Rate 9%

$624,911 $624.9K

Market Conditions

NOI Build-Up for 9,100 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

$70.6K $7.76/SF

− Vacancy

−$4.4K −$0.49/SF

EGI

$66.2K $7.27/SF

− OpEx

−$9.9K −$1.09/SF

NOI

$56.2K $6.18/SF

Area

Matagorda County, TX

Vacancy

6.30%

Lease Rate

$7.76 /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%

$1,124,840

Cap Rate 7%

$803,457

Cap Rate 9%

$624,911

Alternative Uses

Best Use

Warehouse

$803.5K

$703.0K – $937.4K (±1% cap)

NOI $56,242 @ 7.0% cap · market cap 8.65%

Second Best

Industrial

$661.7K

$579.0K – $772.0K (±1% cap)

NOI $46,317 @ 7.0% cap · market cap 7.13%

Theoretical Best

Multifamily LT 5

$102.02M

$89.27M – $119.03M (±1% cap)

NOI $7,141,713 @ 7.0% cap · market cap 1,098.73%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Warehouses

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Warehouse - 9,100 SF warehouse with office on 36 acres.

Where is this warehouse located?

The property is located at 111 County Road 237 Wadsworth, TX.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: Large Land Parcel: **±36.60 AC, mostly pasture, with potential for stabilized yard.**; Substantial Space Under Roof: ±9,100 SF total area.; Functional Office/Living Space: **±1,480 SF of dedicated office/living area.**