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    Flex Property with Metal Shops Title is generated by Realmo AI

    1201 Mh 379, Mineral Wells, TX 76067

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    For Sale
    $775,000

    SINGLE_FAMILY - Mineral Wells, TX

    Type:Office
    Lot size:
    3.17 Acres
    Added:
    Sep 17, 2025
    Days on Market:
    264
    Last Refresh:
    Jun 7 at 8:06 pm

    Property Features for 1201 Mh 379

    General Information

    Property type
    Residential
    Property subtype
    Office
    Parking features
    Open, Driveway, RV, Garage, Covered, Carport
    Standard status
    Active
    APN
    20596
    Lot size
    3.17 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 3.168 MORNINGSIDE BLK 24 LOTS 1 THRU 1
    Tax Annual Amount
    3069

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central, Natural Gas
    Cooling system
    Electric, Central Air
    Water source
    Public, Private

    Building Details

    Year built
    2005
    Floors in Building
    1
    Number of units
    5
    Flooring type
    Concrete, Carpet, Tile
    Building materials
    MetalSiding
    Roof type
    Composition, Metal

    We can help!

    Listing Contact
    David Bourquin
    David Bourquin

    Listing agent David Bourquin License #0596715

    Listing office BOURQUIN REALTY Mineral Wells, TX

    Listing date Sep 17, 2025

    MLS# 20740937

    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.

    HighLights

    • Zoned commercial with a residential 3‑bedroom, 2‑bath house on the property (main house could be used as a company office)
    • Two large metal shop buildings with bathrooms, heat, air, electricity, entrance doors, and multiple roll‑up doors
    • Largest shop includes a kitchenette and divided rooms for multiple workspace options
    • Year built 2005; roofing includes composition and metal; flooring includes carpet, tile, and concrete
    • Utilities include city water and city sewer, plus several water wells and a windmill
    • 3‑acre property with multiple parking options including garage, carport, covered parking, and an RV/storage shed with electricity; compressors and floor lifts convey

    Overview

    This property offers flexible commercial space with two large metal shop buildings plus a well-maintained residential home on site. Both shops include bathrooms, heat, air conditioning, and electricity, along with entry doors and multiple roll-up doors. Interior divided rooms create multiple activity options, and the largest building also features a kitchenette. An attached covered porch is located on the East building, and a separate shed with electricity provides space for an RV or equipment. Compressors and floor lifts are included, and the main house is a 3-bedroom, 2-bath home that could also support office use, with a new roof and additional areas being updated.

    Set on approximately 3.168 acres, the property is served by city water and city sewer, with additional water wells and a windmill on site. While it is zoned commercial, it includes the residence, giving an operator both a workspace and on-site living/office option. Construction on Hwy 379 is finished, creating a smooth road entrance to the property, and the owner is willing to entertain dividing the property so a buyer could purchase one shop without the house, with approximately an acre allocated to that shop.

    With multiple roll-up doors, shop-ready HVAC and power, and interior room divisions in each building, this setup can fit a range of light industrial, service, or flex-operator needs. The inclusion of the home, garage space currently used as office/quilt room, and the RV/equipment shed adds practical on-site functionality for tenants, buyers, or owner-operators looking for versatility in one location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Restaurant Hair Salon Building Supply Auto Repair Shop Big Box & Wholesale Store Daycare Center Kitchen & Bath Showroom Department Store Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mineral Wells
    County
    Palo Pinto
    State
    Texas
    Longitude
    -98.1034638
    Latitude
    32.7898731

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    FAQs

    What type of property is this?
    Flex space - Commercial-zoned property combines two metal shop buildings, a 3-bedroom home, and RV/equipment storage on city utilities.
    Where is this flex space located?
    The property is located at 1201 Mh 379 Mineral Wells, TX.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: Zoned commercial with a residential 3‑bedroom, 2‑bath house on the property (main house could be used as a company office); Two large metal shop buildings with bathrooms, heat, air, electricity, entrance doors, and multiple roll‑up doors; Largest shop includes a kitchenette and divided rooms for multiple workspace options
    (940) 329-5070
    We can help!
    Listing Contact
    David Bourquin
    David Bourquin
    Real Estate License ID: 0596715
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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