Warehouse with Multiple Loading
For Sale
$2,898,000
398 Meeks Bend, Millsap, TX 76066
Tenanted warehouse on 10 acres with office area, 3-phase power, and multiple loading docks.
Property Size27,725 SF
Lot Size10.00 Acres
Price / SF$104.53
Days on Market13
Property Features for 398 Meeks Bend
General Information
Standard status
Active
Size
27,725 SF
Lot size
10.00 Acres
Property subtype
Commercial
Additional Details
Cap Rate
8%
Highway Access
Yes
Heavy Power
Yes
Building Details
Year Built
9999
Listing Agency:
Kirkpatrick Realty
(817) 374-9721
Listed By:
Krayton Kirkpatrick · License #0621854
(817) 374-9721
Source:
Cornerstonehomeandranch
Added: Jul 20
Changed: Jul 21
Last Checked: Jul 24 at 5:49PM
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 Kirkpatrick Realty
Investment Insights
Based on property information with market context.
The property includes a 27,725-square-foot warehouse building with an office area, 3-phase electricity, and multiple loading docks. It is offered with a tenant in place, with current occupancy utilizing the building and 3 acres of the 10-acre site.
Located at 398 Meeks Bend in Millsap, Texas, the site is described as secluded and is positioned within close proximity to the Brazos River, with easy access via Interstate 20.
A 3-year lease is in place through November 2027, with 4% yearly escalation. The offering is also noted as an option to build to suit or purchase vacant land, with an indicated 8% cap rate.
Located at 398 Meeks Bend in Millsap, Texas, the site is described as secluded and is positioned within close proximity to the Brazos River, with easy access via Interstate 20.
A 3-year lease is in place through November 2027, with 4% yearly escalation. The offering is also noted as an option to build to suit or purchase vacant land, with an indicated 8% cap rate.
Key Highlights
- 27,725 SF warehouse on 10 acres with tenant in place
- 3‑year lease in place through November 2027 with 4% annual escalation
- Current lease rate is $16,172 per month
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 | $249.5k | $9.00 |
| − Vacancy | −$22.7k | −$0.82 |
| EGI | $226.8k | $8.18 |
| − OpEx | −$34.0k | −$1.23 |
| NOI | $192.8k | $6.95 |
27,725 SF · lease $9.00/SF/yr · vacancy 9.10% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$2.75M
$2.41M – $3.21M
NOI $192,795 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$27.55M
$24.11M – $32.14M
NOI $1,928,448 @ 7.0% cap · market cap 66.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76066, TX
3,816
Population
1,977
Households
1.9
Avg Household Size
42
Median Age
34%
College-Educated
87%
High-School Grad
88.0 sq mi
ZIP Area
43
Density / Sq Mi
$102,931
Median Household Income
$55,859
Median Earnings
$834
Median Rent
$246,100
Median Home Value
Market
Properties on Market for Warehouses in Parker County
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Tenanted warehouse on 10 acres with office area, 3-phase power, and multiple loading docks.
Where is this warehouse located?
The property is located at 398 Meeks Bend Millsap, TX.
What is the asking price?
The asking price for this property is $2,898,000.
What are key features of this property?
This property features: 27,725 SF warehouse on 10 acres with tenant in place; 3‑year lease in place through November 2027 with 4% annual escalation; Current lease rate is $16,172 per month
