Brick Flex Space with Roll-Up
For Sale
Contact for pricing
120 3rd St, Kerens, TX 75144
Classic brick commercial space with a covered awning, roll-up door, and substantial renovation needs.
Property Size4,827 SF
Price / SF$4.66
Days on Market51
Property Features for 120 3rd St
General Information
Standard status
Active
Size
4,827 SF
Property Condition
Severity
Repairs Needed
Evidence
fixer-upper
Additional Details
Highway Access
Yes
Building Details
Year Built
1900
Construction
brick
Listing Agency:
Keller Williams Lonestar DFW
Listed By:
Michelle Smith · License #0746670
(903) 904-9342
Source:
Yourdavisteam
Added: Sep 2
Changed: Oct 16
Last Checked: Oct 7 at 4:12PM
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 Keller Williams Lonestar DFW
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Investment Insights
Based on property information with market context.
Built in 1900, this 4,827-square-foot brick flex space offers a roll-up door, covered front awning, and a commercial layout that requires renovation. Flooring and the roof need work, giving the next owner a clear improvement scope for the property.
The building is in downtown Kerens at 120 3rd St, next to the KESA Building and near City Hall, the volunteer fire department, USPS, and local restaurants. Highway 31 provides nearby regional access. The covered frontage and existing roll-up door support a combination of storefront, storage, workshop, or other flexible commercial functions, subject to applicable requirements.
The building is in downtown Kerens at 120 3rd St, next to the KESA Building and near City Hall, the volunteer fire department, USPS, and local restaurants. Highway 31 provides nearby regional access. The covered frontage and existing roll-up door support a combination of storefront, storage, workshop, or other flexible commercial functions, subject to applicable requirements.
Key Highlights
- 4,827‑square‑foot brick commercial building constructed in 1900
- Roll‑up door supports storage, workshop, and flexible commercial functions
- Covered front awning provides space for storefront displays or sheltered entry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,637
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,740
$472.7K
Cap Rate 7%
$337,671
$337.7K
Cap Rate 9%
$262,633
$262.6K
Market Conditions
NOI Build-Up for 4,827 SF
Gross rent
$38.8K $8.04/SF
− Vacancy
−$2.4K −$0.51/SF
EGI
$36.4K $7.53/SF
− OpEx
−$12.7K −$2.64/SF
NOI
$23.6K $4.90/SF
Area
Navarro County, TX
Vacancy
6.30%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,740
Cap Rate 7%
$337,671
Cap Rate 9%
$262,633
Alternative Uses
Best Use
Retail
$1.14M
$1.00M – $1.34M
NOI $80,120 @ 7.0% cap · market cap 356.09%
Second Best
Industrial
$442.3K
$387.0K – $516.0K
NOI $30,960 @ 7.0% cap · market cap 137.60%
Theoretical Best
Multifamily LT 5
$53.03M
$46.40M – $61.87M
NOI $3,712,075 @ 7.0% cap · market cap 16,498.11%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 75144, TX
3,462
Population
1,655
Households
2.1
Avg Household Size
47
Median Age
21%
College-Educated
89%
High-School Grad
173.7 sq mi
ZIP Area
20
Density / Sq Mi
$62,528
Median Household Income
$33,354
Median Earnings
$847
Median Rent
$156,400
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- West coast flare — 200 NE 2nd St, Kerens, TX 75144
Frequently Asked Questions
What type of property is this?
Flex space - Classic brick commercial space with a covered awning, roll-up door, and substantial renovation needs.
Where is this flex space located?
The property is located at 120 3rd St Kerens, TX.
What are key features of this property?
This property features: 4,827‑square‑foot brick commercial building constructed in 1900; Roll‑up door supports storage, workshop, and flexible commercial functions; Covered front awning provides space for storefront displays or sheltered entry
