Main-Street Mixed-Use
New
For Sale
$450,000
1123 Main Street, Cleburne, TX 76033
Flexible commercial space suited to retail, office, restaurant, or service-oriented operations.
Property Size2,836 SF
Price / SF$158.67
Days on Market7
Property Features for 1123 Main Street
General Information
Standard status
Active
Size
2,836 SF
Property subtype
Retail
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,525
Amenities
Electric
3
Building Details
Year Built
1974
Listing Agency:
eXp Realty, LLC
(817) 597-5222
Listed By:
Jason Ellerbusch · License #0573504
(817) 597-5222
Source:
Xome
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 4:37AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This 2,836-square-foot mixed-use commercial property provides a flexible setting for several business formats, including retail, office, restaurant, and service-oriented operations. The building was constructed in 1974 and is positioned on Main Street in Cleburne, Texas.
The property is located at 1123 Main Street and fronts a high-traffic commercial corridor. Its multi-use configuration supports a range of customer-facing and professional business applications within one commercial asset.
The property is located at 1123 Main Street and fronts a high-traffic commercial corridor. Its multi-use configuration supports a range of customer-facing and professional business applications within one commercial asset.
Key Highlights
- 2,836‑square‑foot mixed‑use commercial property
- Located at 1123 Main Street, Cleburne, TX 76033
- Positioned on a high‑traffic main street
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
$28,715
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
6.38%
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%
$574,300
$574.3K
Cap Rate 7%
$410,214
$410.2K
Cap Rate 9%
$319,056
$319.1K
Market Conditions
NOI Build-Up for 2,836 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
$51.0K $18.00/SF
− Vacancy
−$5.1K −$1.80/SF
EGI
$45.9K $16.20/SF
− OpEx
−$17.2K −$6.07/SF
NOI
$28.7K $10.13/SF
Area
Johnson County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$574,300
Cap Rate 7%
$410,214
Cap Rate 9%
$319,056
Alternative Uses
Best Use
Office B
$677.7K
$593.0K – $790.6K
NOI $47,438 @ 7.0% cap · market cap 10.54%
Second Best
Retail
$672.5K
$588.4K – $784.6K
NOI $47,073 @ 7.0% cap · market cap 10.46%
Theoretical Best
Multifamily LT 5
$33.99M
$29.74M – $39.66M
NOI $2,379,590 @ 7.0% cap · market cap 528.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Explore this area
Business Placement
Demographics for 76033, TX
27,243
Population
10,962
Households
2.5
Avg Household Size
39
Median Age
21%
College-Educated
88%
High-School Grad
176.1 sq mi
ZIP Area
155
Density / Sq Mi
$69,870
Median Household Income
$40,168
Median Earnings
$1,287
Median Rent
$230,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial space suited to retail, office, restaurant, or service-oriented operations.
Where is this mixed-use property located?
The property is located at 1123 Main Street Cleburne, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,836‑square‑foot mixed‑use commercial property; Located at 1123 Main Street, Cleburne, TX 76033; Positioned on a high‑traffic main street
