Flex Space with Secure
For Sale
$1,590,000
1200 S Hwy 377, Pilot Point, TX 76258
Two commercial buildings offer office areas, shop space, overhead doors, parking, and a secure yard.
Property Size3,320 SF
Lot Size0.84 Acres
Price / SF$478.92
Days on Market241
Property Features for 1200 S Hwy 377
General Information
Standard status
Active
Size
3,320 SF
Lot size
0.84 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Building Details
Year Built
1985
Buildings
2
Listing Agency:
Keller Williams Realty
(940) 484-9411
Listed By:
Benjamin Clark (940) 391-3534,(940) 391-3534 · License #0611947
Source:
Divinerealtygrp
Added: Dec 30, 2025
Changed: Aug 28
Last Checked: Aug 28 at 12:22PM
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 Realty
Investment Insights
Based on property information with market context.
This flex-space property includes two well-maintained commercial buildings with air-conditioned office areas, expansive shop space, and multiple overhead doors. The improvements support a combination of administrative and operational functions, while the secure yard adds practical outdoor storage and work area. On-site parking is also provided.
The approximately 0.84-acre site is positioned at 1200 S Hwy 377 in Pilot Point, Texas, with direct access and visibility along US Highway 377. The corridor connects Pilot Point with Denton, Aubrey, Celina, and the greater Dallas-Fort Worth Metroplex, providing access for customers, vendors, and employees. The property was built in 1985.
The approximately 0.84-acre site is positioned at 1200 S Hwy 377 in Pilot Point, Texas, with direct access and visibility along US Highway 377. The corridor connects Pilot Point with Denton, Aubrey, Celina, and the greater Dallas-Fort Worth Metroplex, providing access for customers, vendors, and employees. The property was built in 1985.
Key Highlights
- Two commercial buildings with air‑conditioned office areas and expansive shop space
- Approximately 0.84 acres along US Highway 377
- Multiple overhead doors for operational access
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
$46,165
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
2.90%
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%
$923,300
$923.3K
Cap Rate 7%
$659,500
$659.5K
Cap Rate 9%
$512,944
$512.9K
Market Conditions
NOI Build-Up for 3,320 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
$82.1K $24.72/SF
− Vacancy
−$20.5K −$6.18/SF
EGI
$61.6K $18.54/SF
− OpEx
−$15.4K −$4.64/SF
NOI
$46.2K $13.91/SF
Area
Denton County, TX
Vacancy
25.00%
Lease Rate
$24.72 /SF/Yr
Expense Ratio
25.00%
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%
$923,300
Cap Rate 7%
$659,500
Cap Rate 9%
$512,944
Alternative Uses
Best Use
Office B
$659.5K
$577.1K – $769.4K
NOI $46,165 @ 7.0% cap · market cap 2.90%
Second Best
Warehouse
$295.6K
$258.7K – $344.9K
NOI $20,692 @ 7.0% cap · market cap 1.30%
Theoretical Best
Multifamily LT 5
$46.43M
$40.62M – $54.17M
NOI $3,249,980 @ 7.0% cap · market cap 204.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 76258, TX
7,409
Population
3,079
Households
2.4
Avg Household Size
41
Median Age
30%
College-Educated
82%
High-School Grad
90.3 sq mi
ZIP Area
82
Density / Sq Mi
$93,661
Median Household Income
$51,382
Median Earnings
$1,224
Median Rent
$320,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Two commercial buildings offer office areas, shop space, overhead doors, parking, and a secure yard.
Where is this flex space located?
The property is located at 1200 S Hwy 377 Pilot Point, TX.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Two commercial buildings with air‑conditioned office areas and expansive shop space; Approximately 0.84 acres along US Highway 377; Multiple overhead doors for operational access
