Multi-Use Stone
For Sale
$1,500,000
55 Heritage Road Gordonville, Gordonville, TX 76245
Stone commercial building with office space and a residential unit, plus extensive Highway 377 frontage and acreage.
Property Size4,000 SF
Lot Size8.00 Acres
Price / SF$375
Days on Market45
Property Features for 55 Heritage Road Gordonville
General Information
Standard status
Active
Size
4,000 SF
Lot size
8.00 Acres
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$10,849
Amenities
stocked ponds
fenced yard
water wells
co-op water
spray foam insulation
security system with cameras
Building Details
Building Size
4,000 SF
Year Built
1985
Stories
1
Listing Agency:
OPT
(800) 683-5651
Listed By:
Christin Geiselman
(800) 683-5651
Source:
Jparhouston
Added: Jul 8
Changed: Aug 20
Last Checked: Aug 21 at 4:03AM
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 OPT
Investment Insights
Based on property information with market context.
This multi-use commercial property features approximately 4,000 square feet under one roof with two distinct space types. The office portion includes three private offices, a spacious conference room, two bathrooms, flex space, and a large garage designed for storage. The income-producing residential portion offers two bedrooms, one bathroom, a full kitchen, and multiple flexible workspaces.
The property sits on 8 acres with over 870 feet of frontage along Highway 377. Exterior features include two stocked ponds, a fenced yard, two water wells for irrigation, and co-op water. The building is equipped with spray foam insulation along the roofline, a security system with cameras, and a recently installed new roof. Public remarks note the site has no city zoning restrictions. The overall configuration supports an owner-occupant with an on-site manager, rental income, or employee housing, along with room for expansion or additional business operations.
The property sits on 8 acres with over 870 feet of frontage along Highway 377. Exterior features include two stocked ponds, a fenced yard, two water wells for irrigation, and co-op water. The building is equipped with spray foam insulation along the roofline, a security system with cameras, and a recently installed new roof. Public remarks note the site has no city zoning restrictions. The overall configuration supports an owner-occupant with an on-site manager, rental income, or employee housing, along with room for expansion or additional business operations.
Key Highlights
- 1985 built, approx. 4,000 SF stone commercial building with office and residential portions under one roof
- 8 acres with 870+ ft of Highway 377 frontage for multi‑use commercial and investment options
- Office space includes three private offices, conference room, flex space, two bathrooms, and a large storage/garage area
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
$66,908
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
4.46%
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%
$1,338,160
$1.3M
Cap Rate 7%
$955,829
$955.8K
Cap Rate 9%
$743,422
$743.4K
Market Conditions
NOI Build-Up for 4,000 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
$122.9K $30.72/SF
− Vacancy
−$33.7K −$8.42/SF
EGI
$89.2K $22.30/SF
− OpEx
−$22.3K −$5.58/SF
NOI
$66.9K $16.73/SF
Area
Grayson County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
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%
$1,338,160
Cap Rate 7%
$955,829
Cap Rate 9%
$743,422
Alternative Uses
Best Use
Office B
$955.8K
$836.4K – $1.12M
NOI $66,908 @ 7.0% cap · market cap 4.46%
Second Best
Mixed Use
$565.7K
$495.0K – $660.0K
NOI $39,600 @ 7.0% cap · market cap 2.64%
Theoretical Best
Hotel Hospitality
$2.05M
$1.80M – $2.39M
NOI $143,640 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 76245, TX
1,954
Population
1,408
Households
1.4
Avg Household Size
55
Median Age
22%
College-Educated
87%
High-School Grad
24.2 sq mi
ZIP Area
81
Density / Sq Mi
$75,391
Median Household Income
$32,885
Median Earnings
$840
Median Rent
$196,000
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?
Live-work space - Stone commercial building with office space and a residential unit, plus extensive Highway 377 frontage and acreage.
Where is this live-work space located?
The property is located at 55 Heritage Road Gordonville Gordonville, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 1985 built, approx. 4,000 SF stone commercial building with office and residential portions under one roof; 8 acres with 870+ ft of Highway 377 frontage for multi‑use commercial and investment options; Office space includes three private offices, conference room, flex space, two bathrooms, and a large storage/garage area
