Flex Space with Shop and
For Sale
$289,900
11846 Prairie Hill Dr, Hearne, TX 77859
COMMERCIAL - Hearne, TX
Property Size1,878 SF
Lot Size1.95 Acres
Price / SF$154.37
Days on Market62
Property Features for 11846 Prairie Hill Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Prairie Hill Sub
Lot features
Level
Directions
From Bryan turn left onto hwy 6 - travel for about 14 miles Prairie Hill Dr. will be on the left. Turn onto Prairie Hill Drive property will be on the right.
Standard status
Active
APN
9937
Size
1,878 SF
Lot size
1.95 Acres
Taxes and HOA fees
Tax Description
LOT 4,5,6 BLOCK 2 PRAIRIE HILL SUBD 1453/322 MOB
Tax Annual Amount
440
Legal Description
LOT 4,5,6 BLOCK 2 PRAIRIE HILL SUBD 1453/322 MOB
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
2023
Floors in Building
1
Number of units
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Armstrong Properties
Listed By:
Jessica Armstrong
(979) 567-7653
Added: Jul 6
Changed: Aug 4
Last Checked: Sep 5 at 8:06AM
MLS# 21261030
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 built for operational flexibility, featuring a fully perimeter fenced 1.95-acre tract. The improvements include a 30x40 shop with electricity and concrete flooring, plus an attached 1 bedroom, 1 bath apartment with a kitchen. Built in 2023, the property is supported by electric HVAC and electric heating, and a metal roof.
The property provides direct frontage on US-190 and Highway 6 along a high-traffic corridor with estimated 23,804 AADT, supporting strong visibility for industrial, contractor, equipment storage, trucking/logistics, service-based uses, or future commercial development. Existing utilities and infrastructure include three separate septic systems, three electric meters (Navasota Valley Electric), and one water meter.
Additional site-ready features include secure, fenced perimeter coverage intended to support storage and day-to-day operations.
The property provides direct frontage on US-190 and Highway 6 along a high-traffic corridor with estimated 23,804 AADT, supporting strong visibility for industrial, contractor, equipment storage, trucking/logistics, service-based uses, or future commercial development. Existing utilities and infrastructure include three separate septic systems, three electric meters (Navasota Valley Electric), and one water meter.
Additional site-ready features include secure, fenced perimeter coverage intended to support storage and day-to-day operations.
Key Highlights
- Direct frontage on US‑190 and Highway 6 with estimated 23,804 AADT
- 1.95‑acre fenced tract with approximately 119.81 feet of frontage on a high‑traffic corridor
- 30x40 shop with electricity and concrete flooring
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
$17,029
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
5.87%
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%
$340,580
$340.6K
Cap Rate 7%
$243,271
$243.3K
Cap Rate 9%
$189,211
$189.2K
Market Conditions
NOI Build-Up for 1,878 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
$28.2K $15.00/SF
− Vacancy
−$2.0K −$1.05/SF
EGI
$26.2K $13.95/SF
− OpEx
−$9.2K −$4.88/SF
NOI
$17.0K $9.07/SF
Area
Robertson County, TX
Vacancy
7.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
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%
$340,580
Cap Rate 7%
$243,271
Cap Rate 9%
$189,211
Alternative Uses
Best Use
Flex RnD
$243.3K
$212.9K – $283.8K
NOI $17,029 @ 7.0% cap · market cap 5.87%
Second Best
Warehouse
$195.4K
$171.0K – $228.0K
NOI $13,677 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$462.4K
$404.6K – $539.5K
NOI $32,371 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77859, TX
7,131
Population
3,361
Households
2.1
Avg Household Size
39
Median Age
14%
College-Educated
82%
High-School Grad
156.8 sq mi
ZIP Area
45
Density / Sq Mi
$52,214
Median Household Income
$28,060
Median Earnings
$651
Median Rent
$160,900
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?
Flex space - Flex space on a fully fenced tract with a 30x40 electric shop and an attached one-bedroom apartment.
Where is this flex space located?
The property is located at 11846 Prairie Hill Dr Hearne, TX.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Direct frontage on US‑190 and Highway 6 with estimated 23,804 AADT; 1.95‑acre fenced tract with approximately 119.81 feet of frontage on a high‑traffic corridor; 30x40 shop with electricity and concrete flooring
