Remodeled Office-Warehouse Flex
For Sale
$1,310,000
132 W McLeroy Boulevard, Saginaw, TX 76179
Combined office and warehouse layout supports professional operations with direct loading access.
Property Size5,950 SF
Days on Market40
Property Features for 132 W McLeroy Boulevard
General Information
Standard status
Active
Size
5,950 SF
Property subtype
Commercial
Zoning
COMMERCIAL
Additional Details
Highway Access
Yes
Drive-In Doors
2
Amenities
private offices
reception area
conference room
breakroom
mezzanine storage
drive-in roll-up doors
Building Details
Building Size
5,950 SF
Year Built
1997
Stories
1
Units
1
Listing Agency:
Trinity Group Realty
(817) 721-7059
Listed By:
Angie Marshall-Mishio · License #0754258
(817) 721-7059
Source:
Cornerstonehomeandranch
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 24 at 4:24AM
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 Trinity Group Realty
Investment Insights
Based on property information with market context.
Originally built in 1997, this flex-space property combines a remodeled office component with warehouse functionality and a 2024 addition. The office area includes 8 private offices, a reception area, a large conference room or open common area, a breakroom, and 2 restrooms. An insulated metal addition expands into the warehouse and includes mezzanine storage.
Two 10' x 10' drive-in roll-up doors provide direct access to the warehouse. Concrete parking serves staff and visitors, while the property is positioned .1 miles from Saginaw Main Street and 1.7 miles from IH-820. The site carries COMMERCIAL zoning and offers a practical combination of office, storage, and operational space.
Two 10' x 10' drive-in roll-up doors provide direct access to the warehouse. Concrete parking serves staff and visitors, while the property is positioned .1 miles from Saginaw Main Street and 1.7 miles from IH-820. The site carries COMMERCIAL zoning and offers a practical combination of office, storage, and operational space.
Key Highlights
- Remodeled office‑warehouse flex property with a 2024 addition
- 8 private offices, reception area, conference or open common area, breakroom, and 2 restrooms
- Insulated metal warehouse addition with mezzanine storage
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
$93,980
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
7.17%
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%
$1,879,600
$1.9M
Cap Rate 7%
$1,342,571
$1.3M
Cap Rate 9%
$1,044,222
$1.0M
Market Conditions
NOI Build-Up for 5,950 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
$160.7K $27.00/SF
− Vacancy
−$35.3K −$5.94/SF
EGI
$125.3K $21.06/SF
− OpEx
−$31.3K −$5.27/SF
NOI
$94.0K $15.80/SF
Area
ZIP 76179
Vacancy
22.00%
Lease Rate
$27.00 /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%
$1,879,600
Cap Rate 7%
$1,342,571
Cap Rate 9%
$1,044,222
Alternative Uses
Best Use
Warehouse
$7.10M
$6.21M – $8.28M
NOI $497,066 @ 7.0% cap · market cap 37.94%
Second Best
Industrial
$6.40M
$5.60M – $7.46M
NOI $447,796 @ 7.0% cap · market cap 34.18%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76179, TX
68,333
Population
26,227
Households
2.6
Avg Household Size
34
Median Age
31%
College-Educated
92%
High-School Grad
51.9 sq mi
ZIP Area
1,317
Density / Sq Mi
$108,428
Median Household Income
$53,878
Median Earnings
$1,840
Median Rent
$299,300
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 - Combined office and warehouse layout supports professional operations with direct loading access.
Where is this flex space located?
The property is located at 132 W McLeroy Boulevard Saginaw, TX.
What is the asking price?
The asking price for this property is $1,310,000.
What are key features of this property?
This property features: Remodeled office‑warehouse flex property with a 2024 addition; 8 private offices, reception area, conference or open common area, breakroom, and 2 restrooms; Insulated metal warehouse addition with mezzanine storage
