Newly Built Flex Industrial
For Sale
$1,490,000
1229 State Highway 36 N, Caldwell, TX 77836
New construction flex building with highway frontage and multiple roll-up doors for versatile industrial, office, or retail use.
Property Size6,000 SF
Lot Size2.00 Acres
Price / SF$248.33
Days on Market138
Property Features for 1229 State Highway 36 N
General Information
Standard status
Active
Size
6,000 SF
Lot size
2.00 Acres
Site & Location
Traffic Count
33,566 vehicles/day
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
14 ft
Drive-In Doors
5
Listing Agency:
Armstrong Properties
(979) 450-1310
Listed By:
Pamela Payonk
(979) 450-1310
Source:
Exprealty
Added: Apr 7
Changed: Aug 20
Last Checked: Aug 21 at 11:27AM
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 Armstrong Properties
Investment Insights
Based on property information with market context.
This newly constructed 6,000-square-foot flex/industrial building is set on 2 acres and designed for multiple operating styles. The interior is primarily open space and includes two bathrooms and a kitchenette. On the front side, numerous windows and an awning help support lighted storefront-style presence, while exterior perimeter lighting is installed on the building.
Access and ingress are supported by three roll-up doors on the North end—two 12' doors and one 14' door—plus a 14' interior roll-up door and a 14' roll-up door on the South end. With 14' clearance through the building, the layout supports straight-through movement for loading and unloading. The site offers 435 feet of highway frontage and is located about one mile from the intersection of Hwy 21 & Hwy 36, where the annual average daily vehicle count is listed as 33,566. A concrete parking lot and pipe fencing with a gate at the entrance are also provided.
The property is served by City of Caldwell water & sewer and Entergy electricity. It presents a practical option for tenants seeking a combined industrial and office or retail environment with roll-up access and an open interior plan. Please note that the cars and lift are listed as for sale but do not convey with the listed sales price.
Access and ingress are supported by three roll-up doors on the North end—two 12' doors and one 14' door—plus a 14' interior roll-up door and a 14' roll-up door on the South end. With 14' clearance through the building, the layout supports straight-through movement for loading and unloading. The site offers 435 feet of highway frontage and is located about one mile from the intersection of Hwy 21 & Hwy 36, where the annual average daily vehicle count is listed as 33,566. A concrete parking lot and pipe fencing with a gate at the entrance are also provided.
The property is served by City of Caldwell water & sewer and Entergy electricity. It presents a practical option for tenants seeking a combined industrial and office or retail environment with roll-up access and an open interior plan. Please note that the cars and lift are listed as for sale but do not convey with the listed sales price.
Key Highlights
- Newly constructed 6,000 SF flex building on 2 acres with 435 ft of highway frontage
- Located one mile from the Hwy 21 & Hwy 36 intersection (33,566 ADT) on a major thoroughfare to Austin, College Station, Brenham and Houston
- Equipped with 3 roll‑up doors: two 12' doors on the north end and one 14' door, plus an additional 14' roll‑up door on the south end
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
$54,405
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
3.65%
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%
$1,088,100
$1.1M
Cap Rate 7%
$777,214
$777.2K
Cap Rate 9%
$604,500
$604.5K
Market Conditions
NOI Build-Up for 6,000 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
$90.0K $15.00/SF
− Vacancy
−$6.3K −$1.05/SF
EGI
$83.7K $13.95/SF
− OpEx
−$29.3K −$4.88/SF
NOI
$54.4K $9.07/SF
Area
Burleson 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%
$1,088,100
Cap Rate 7%
$777,214
Cap Rate 9%
$604,500
Alternative Uses
Best Use
Flex RnD
$777.2K
$680.1K – $906.8K
NOI $54,405 @ 7.0% cap · market cap 3.65%
Second Best
Warehouse
$624.2K
$546.2K – $728.3K
NOI $43,697 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,421 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
5
Drive-in doors
33,566 VPD
Traffic count
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77836, TX
11,721
Population
5,990
Households
2
Avg Household Size
45
Median Age
22%
College-Educated
86%
High-School Grad
431.1 sq mi
ZIP Area
27
Density / Sq Mi
$79,567
Median Household Income
$45,291
Median Earnings
$869
Median Rent
$199,000
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 - New construction flex building with highway frontage and multiple roll-up doors for versatile industrial, office, or retail use.
Where is this flex space located?
The property is located at 1229 State Highway 36 N Caldwell, TX.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Newly constructed 6,000 SF flex building on 2 acres with 435 ft of highway frontage; Located one mile from the Hwy 21 & Hwy 36 intersection (33,566 ADT) on a major thoroughfare to Austin, College Station, Brenham and Houston; Equipped with 3 roll‑up doors: two 12' doors on the north end and one 14' door, plus an additional 14' roll‑up door on the south end
