Functional Commercial Building on Corner
406 N Gray St Caldwell, TX 77836
406 N Gray St, Caldwell, TX, 77836
$625,000
For Sale
$625,000
7,200 SF commercial building with office and shop space.
Property Size7,200 SF
Lot Size0.43 Acres
Price / SF$86.81
Days on Market132
Property Features for 406 N Gray St
General Information
- Standard status
- Active
- Size
- 7,200 SF
- Lot size
- 0.43 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1978
Listing agency
Armstrong Properties
(979) 777-5396
Listed by
Jessica Armstrong · License #0574391
(979) 777-5396
Source
Elliman
Added: Mar 12 Updated: Jul 6 at 12:44PM Checked: Jul 6 at 12:44PM
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 7,200 SF freestanding commercial building is located on the corner of Hwy 21 and Gray Street. The property includes approximately 1,000 SF of finished office space featuring 3 private offices, a conference room, reception and waiting areas, a kitchenette, a full bathroom, an IT closet, and a dedicated shop-manager workspace. The 4,720 SF heated and cooled shop/warehouse is fully spray-foam insulated and designed for efficiency, with five bay doors, a mezzanine for storage, and multiple power stations. The flexible layout supports a wide variety of business types, from trades and service companies to light manufacturing or distribution. The property is positioned in a high-traffic corridor.
Key Highlights
- High‑visibility corner location on Hwy 21 and Gray Street.
- 7,200 SF freestanding commercial building.
- Move‑in ready with 1,000 SF of finished office space.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.8k | $9.00 |
| − Vacancy | −$3.1k | −$0.43 |
| EGI | $61.7k | $8.57 |
| − OpEx | −$9.3k | −$1.29 |
| NOI | $52.4k | $7.28 |
7,200 SF · lease $9.00/SF/yr · vacancy 4.80% · expense 15.00%
Alternative Uses
Best Use
Office B
$1.35M
$1.18M – $1.58M
NOI $94,689 @ 7.0% cap · market cap 15.15%
Second Best
Flex RnD
$932.7K
$816.1K – $1.09M
NOI $65,286 @ 7.0% cap · market cap 10.45%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,105 @ 7.0% cap · market cap 19.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Direct Manufacturing & Design
Industrial Manufacturer
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - 7,200 SF commercial building with office and shop space.
Where is this flex space located?
The property is located at 406 N Gray St Caldwell, TX.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: High‑visibility corner location on Hwy 21 and Gray Street.; 7,200 SF freestanding commercial building.; Move‑in ready with **1,000 SF of finished office space.**
