Warehouse Property with Drive-In
For Sale
$2,900,000
111 Industrial Blvd, Mansfield, TX 76063
Two-building warehouse asset with renovated offices, multiple suites, heavy power, and substantial vehicle access.
Property Size24,270 SF
Price / SF$119.49
Days on Market108
Property Features for 111 Industrial Blvd
General Information
Standard status
Active
Size
24,270 SF
Property subtype
Warehouse
Amenities
24,270-Square-Foot Industrial Asset Situated on 1.35 Acres
Partial Sale-Leaseback with Mission Sales and Supply
Opportunity For Owner-Use or Investor to Lease and Cash Flow Shallow Bay Asset
Features 11 Grade-Level Doors, One Dock-High Door, and 18' Clear Heights
Recent Renovations to the Parking Lot, Office Space, and New Paint
Four +/- 6,000 Square-Foot Suites that are Individually Metered
Building Details
Building Size
24,270 SF
Year Built
1995
Listing Agency:
Marcus & Millichap - Dallas
(972) 755-5154
Listed By:
Cole Collins · License #License(s): TX: 783678
(972) 755-5154
Source:
Marcusmillichap
Added: May 14
Changed: Aug 29
Last Checked: Aug 29 at 2:18PM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
This two-building warehouse property provides approximately 24,270 square feet across four suites on 1.35 acres. The improvements feature metal construction and roofing, an 18-foot clear height, three-phase heavy power rated at 200 amps and 240 volts, and 20 parking spaces. Ten drive-in doors support loading and circulation, while one dock-high platform includes dual grade-level access serving two separate suites. Recent work includes updates to the parking lot, office areas, and exterior paint.
Located at 111 Industrial Boulevard in Mansfield, the property is just off South Main Street with access to U.S. Route 287 and the Texas 360 Tollway. The Mansfield submarket contains 10.9 million square feet of industrial space and is characterized by distribution and logistics facilities. Comparable industrial properties under 50,000 square feet had 4.0 percent vacancy in Q2 2025.
Located at 111 Industrial Boulevard in Mansfield, the property is just off South Main Street with access to U.S. Route 287 and the Texas 360 Tollway. The Mansfield submarket contains 10.9 million square feet of industrial space and is characterized by distribution and logistics facilities. Comparable industrial properties under 50,000 square feet had 4.0 percent vacancy in Q2 2025.
Key Highlights
- Approximately 24,270 square feet of warehouse space on 1.35 acres
- Four suites across two buildings with 18’ clear height
- 10 drive‑in doors plus one dock‑high platform
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
$168,770
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
5.82%
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%
$3,375,400
$3.4M
Cap Rate 7%
$2,411,000
$2.4M
Cap Rate 9%
$1,875,222
$1.9M
Market Conditions
NOI Build-Up for 24,270 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
$218.4K $9.00/SF
− Vacancy
−$19.9K −$0.82/SF
EGI
$198.6K $8.18/SF
− OpEx
−$29.8K −$1.23/SF
NOI
$168.8K $6.95/SF
Area
Tarrant 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 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%
$3,375,400
Cap Rate 7%
$2,411,000
Cap Rate 9%
$1,875,222
Alternative Uses
Best Use
Warehouse
$2.41M
$2.11M – $2.81M
NOI $168,770 @ 7.0% cap · market cap 5.82%
Second Best
Industrial
$1.95M
$1.71M – $2.28M
NOI $136,846 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$8.54M
$7.47M – $9.96M
NOI $597,624 @ 7.0% cap · market cap 20.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76063, TX
76,914
Population
28,105
Households
2.7
Avg Household Size
37
Median Age
42%
College-Educated
94%
High-School Grad
50.0 sq mi
ZIP Area
1,538
Density / Sq Mi
$113,177
Median Household Income
$56,480
Median Earnings
$1,762
Median Rent
$378,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Two-building warehouse asset with renovated offices, multiple suites, heavy power, and substantial vehicle access.
Where is this warehouse located?
The property is located at 111 Industrial Blvd Mansfield, TX.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Approximately 24,270 square feet of warehouse space on 1.35 acres; Four suites across two buildings with 18’ clear height; 10 drive‑in doors plus one dock‑high platform
