Flex Warehouse with 12' Clear
For Sale
$799,999
3115 Sabine Street, Forest Hill, TX 76119
Renovated flex warehouse includes office space, dock and roll-up doors, perimeter fencing, and climate-controlled warehouse area.
Property Size6,150 SF
Price / SF$130.08
Days on Market36
Property Features for 3115 Sabine Street
General Information
Standard status
Active
Size
6,150 SF
Property subtype
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
12 ft
Drive-In Doors
2
Heavy Power
Yes
Additional Details
Office Units
3
Taxes and HOA fees
Annual Taxes
$4,484
Building Details
Building Size
6,150 SF
Year Built
1968
Year Renovated
2025
Construction
steel frame
Listing Agency:
Compass RE Texas, LLC
(214) 814-8100
Listed By:
Michael Karol · License #0661261
Source:
Nilesrealtygroup
Added: Jul 20
Changed: Aug 8
Last Checked: Aug 24 at 1:24PM
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 Compass RE Texas, LLC
Investment Insights
Based on property information with market context.
This flex warehouse was fully renovated in 2025 and is currently vacant, offering a combined office and warehouse setup designed for operational flexibility. The office portion includes updated lighting, fresh paint, and new LVP flooring, with an open reception area featuring high ceilings, three private office suites, a common area bathroom, and a galley kitchen with a secondary exterior entry door.
The warehouse is a steel frame structure with a metal roof and perimeter fencing, providing approximately 12' of interior clear height. The 5,050 SF warehouse area is fully encapsulated with new expanding cell foam insulation and served by a new 4-ton commercial HVAC heat pump system with spiral ducting for climate control throughout. Electrical is upgraded with 3-phase power, new panels, conduits, and wiring, plus multiple 60-amp receptacle locations.
Operational access includes a ground-level dock with a metal roll-up door to the main interior bay, along with an additional 10' tall garage door that can be used to isolate interior bays as needed. The rear of the property abuts BNSF Railway and includes approximately 2,500 SF of unpaved outdoor yard space, with a portion covered by a metal awning for dry storage.
The warehouse is a steel frame structure with a metal roof and perimeter fencing, providing approximately 12' of interior clear height. The 5,050 SF warehouse area is fully encapsulated with new expanding cell foam insulation and served by a new 4-ton commercial HVAC heat pump system with spiral ducting for climate control throughout. Electrical is upgraded with 3-phase power, new panels, conduits, and wiring, plus multiple 60-amp receptacle locations.
Operational access includes a ground-level dock with a metal roll-up door to the main interior bay, along with an additional 10' tall garage door that can be used to isolate interior bays as needed. The rear of the property abuts BNSF Railway and includes approximately 2,500 SF of unpaved outdoor yard space, with a portion covered by a metal awning for dry storage.
Key Highlights
- Fully renovated flex warehouse (1968) with modern office finishes and major functional upgrades in 2025
- Office space totals 1,100 SF with updated lighting, fresh paint, new LVP flooring, open reception, 3 private offices, bath, and galley kitchen
- 5,050 SF steel frame warehouse with 12' interior clear height via 12' vertical I‑beams and perimeter fencing
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
$67,542
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
8.44%
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%
$1,350,840
$1.4M
Cap Rate 7%
$964,886
$964.9K
Cap Rate 9%
$750,467
$750.5K
Market Conditions
NOI Build-Up for 6,150 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
$118.1K $19.20/SF
− Vacancy
−$14.2K −$2.30/SF
EGI
$103.9K $16.90/SF
− OpEx
−$36.4K −$5.91/SF
NOI
$67.5K $10.98/SF
Area
Tarrant County, TX
Vacancy
12.00%
Lease Rate
$19.20 /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%
$1,350,840
Cap Rate 7%
$964,886
Cap Rate 9%
$750,467
Alternative Uses
Best Use
Office B
$1.52M
$1.33M – $1.77M
NOI $106,272 @ 7.0% cap · market cap 13.28%
Second Best
Flex RnD
$964.9K
$844.3K – $1.13M
NOI $67,542 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,438 @ 7.0% cap · market cap 18.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
2
Drive-in doors
3
Office units
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76119, TX
50,850
Population
16,697
Households
3
Avg Household Size
32
Median Age
8%
College-Educated
66%
High-School Grad
15.9 sq mi
ZIP Area
3,198
Density / Sq Mi
$46,537
Median Household Income
$29,387
Median Earnings
$1,234
Median Rent
$146,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated flex warehouse includes office space, dock and roll-up doors, perimeter fencing, and climate-controlled warehouse area.
Where is this flex space located?
The property is located at 3115 Sabine Street Forest Hill, TX.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Fully renovated flex warehouse (1968) with modern office finishes and major functional upgrades in 2025; Office space totals 1,100 SF with updated lighting, fresh paint, new LVP flooring, open reception, 3 private offices, bath, and galley kitchen; 5,050 SF steel frame warehouse with 12' interior clear height via 12' vertical I‑beams and perimeter fencing
