Flex Space with Open
New
For Sale
$785,000
1212 S Washington Street, Pilot Point, TX 76258
Office, showroom, and shop areas are complemented by a second insulated metal building for additional storage or equipment.
Property Size4,900 SF
Price / SF$160.20
Days on Market5
Property Features for 1212 S Washington Street
General Information
Standard status
Active
Size
4,900 SF
Property subtype
Commercial
Zoning
commerical
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Office Build-Out
2,250 SF
Drive-In Doors
4
Building Details
Building Size
4,900 SF
Year Built
2002
Buildings
2
Stories
1
Units
1
Construction
pre-engineered steel
Listing Agency:
Pedigo Real Estate, Inc.
Listed By:
Billy Ray Pedigo
(940) 368-1803
Source:
Bourquinrealty
Added: Oct 19
Changed: Oct 22
Last Checked: Oct 22 at 2:38PM
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 Pedigo Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This 2002 flex property includes an approximately 4,900-square-foot pre-engineered steel building with finished office and showroom areas alongside an open shop. The office portion has a reception area, offices, meeting room, break room, utility room, and 1.5 baths. A 400-square-foot porch extends across the front. The shop has 110V and 220V wiring, lighting, spray foam insulation, and three overhead doors: one measuring 16 feet wide by 10 feet high and two measuring 12 feet wide by 10 feet high.
A separate metal building measures approximately 24 by 50 feet and includes a passenger entry, a 10-by-10-foot overhead door, and spray foam insulation. Asphalt, concrete, and gravel areas provide parking and driveway access. Metal fencing borders the north and west sides, with pipe-rail fencing along the south. An ADT electronic security system is installed.
The property has frontage on Business Highway 377. The combination of finished work areas, open shop space, and a separate building offers several distinct functional areas on site.
A separate metal building measures approximately 24 by 50 feet and includes a passenger entry, a 10-by-10-foot overhead door, and spray foam insulation. Asphalt, concrete, and gravel areas provide parking and driveway access. Metal fencing borders the north and west sides, with pipe-rail fencing along the south. An ADT electronic security system is installed.
The property has frontage on Business Highway 377. The combination of finished work areas, open shop space, and a separate building offers several distinct functional areas on site.
Key Highlights
- Approximately 4,900‑square‑foot pre‑engineered steel building with finished office space and an open shop
- Business Highway 377 frontage
- Second metal building measuring approximately 24' x 50', with spray foam insulation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,540
Cap Rate
3.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,800
$610.8K
Cap Rate 7%
$436,286
$436.3K
Cap Rate 9%
$339,333
$339.3K
Market Conditions
NOI Build-Up for 4,900 SF
Gross rent
$39.4K $8.04/SF
− Vacancy
−$3.5K −$0.71/SF
EGI
$35.9K $7.33/SF
− OpEx
−$5.4K −$1.10/SF
NOI
$30.5K $6.23/SF
Area
Denton County, TX
Vacancy
8.80%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,800
Cap Rate 7%
$436,286
Cap Rate 9%
$339,333
Alternative Uses
Best Use
Warehouse
$436.3K
$381.8K – $509.0K
NOI $30,540 @ 7.0% cap · market cap 3.89%
Second Best
Industrial
$359.3K
$314.4K – $419.2K
NOI $25,150 @ 7.0% cap · market cap 3.20%
Theoretical Best
Multifamily LT 5
$68.52M
$59.96M – $79.94M
NOI $4,796,658 @ 7.0% cap · market cap 611.04%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
Balanced
Demand for This Use
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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
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Office, showroom, and shop areas are complemented by a second insulated metal building for additional storage or equipment.
Where is this flex space located?
The property is located at 1212 S Washington Street Pilot Point, TX.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Approximately 4,900‑square‑foot pre‑engineered steel building with finished office space and an open shop; Business Highway 377 frontage; Second metal building measuring approximately 24' x 50', with spray foam insulation
