Controlled-Air Flex
New
For Sale
$375,000
155 N 1st Street, Hewitt, TX 76643
Flex property combining conditioned workspace with enclosed warehouse functionality.
Property Size2,400 SF
Days on Market4
Property Features for 155 N 1st Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Zoning
C-O
Building Details
Building Size
2,400 SF
Year Built
1985
Units
1
Listing Agency:
Kelly, Realtors
(254) 716-1908
Listed By:
Kevin Collins · License #0483618
(254) 716-1908
Source:
Vickiesteam
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 23 at 12:25PM
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 Kelly, Realtors
Investment Insights
Based on property information with market context.
This 2,400-square-foot flex property, built in 1985, combines controlled-air space with warehouse functionality. The configuration includes 1,600 square feet of controlled air and an 800-square-foot warehouse area with additional enclosed controlled-air space.
Located at 155 N 1st Street in Hewitt, Texas, the property carries C-O zoning and offers a mixed workspace and storage configuration within a single commercial building.
Located at 155 N 1st Street in Hewitt, Texas, the property carries C-O zoning and offers a mixed workspace and storage configuration within a single commercial building.
Key Highlights
- 2,400 square feet of total building area
- 1,600 square feet of controlled‑air space
- 800‑square‑foot warehouse 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
$17,222
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
4.59%
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%
$344,440
$344.4K
Cap Rate 7%
$246,029
$246.0K
Cap Rate 9%
$191,356
$191.4K
Market Conditions
NOI Build-Up for 2,400 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
$28.8K $12.00/SF
− Vacancy
−$2.3K −$0.96/SF
EGI
$26.5K $11.04/SF
− OpEx
−$9.3K −$3.86/SF
NOI
$17.2K $7.18/SF
Area
McLennan County, TX
Vacancy
8.00%
Lease Rate
$12.00 /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%
$344,440
Cap Rate 7%
$246,029
Cap Rate 9%
$191,356
Alternative Uses
Best Use
Flex RnD
$246.0K
$215.3K – $287.0K
NOI $17,222 @ 7.0% cap · market cap 4.59%
Second Best
Warehouse
$211.9K
$185.4K – $247.2K
NOI $14,833 @ 7.0% cap · market cap 3.96%
Theoretical Best
Multifamily LT 5
$29.90M
$26.16M – $34.88M
NOI $2,092,869 @ 7.0% cap · market cap 558.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
231
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76643, TX
16,044
Population
6,231
Households
2.6
Avg Household Size
42
Median Age
37%
College-Educated
95%
High-School Grad
7.6 sq mi
ZIP Area
2,111
Density / Sq Mi
$83,798
Median Household Income
$50,432
Median Earnings
$1,389
Median Rent
$252,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex property combining conditioned workspace with enclosed warehouse functionality.
Where is this flex space located?
The property is located at 155 N 1st Street Hewitt, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,400 square feet of total building area; 1,600 square feet of controlled‑air space; 800‑square‑foot warehouse area
