Industrial Flex Property with
New
For Sale
$1,695,000
1391 Flat Creek Road, Athens, TX 75751
Dedicated office improvements, loading infrastructure, and high-voltage three-phase electrical service support varied commercial operations.
Property Size15,000 SF
Lot Size6.00 Acres
Days on Market5
Property Features for 1391 Flat Creek Road
General Information
Standard status
Active
Size
15,000 SF
Lot size
6.00 Acres
Property subtype
Commercial
Zoning
commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Dock-High Doors
3
Drive-In Doors
1
Power
800 amps
Voltage
460 V
Three-Phase Power
Yes
Amenities
break room
kitchen
fiber internet
Building Details
Building Size
15,000 SF
Year Built
1982
Buildings
2
Units
2
Listing Agency:
Stewart & McGee Real Estate
(903) 804-8003
Listed By:
Julie Stewart · License #0391806
(903) 804-8003
Source:
Vickiesteam
Added: Aug 13
Changed: Aug 16
Last Checked: Aug 16 at 2:34PM
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 Stewart & McGee Real Estate
Investment Insights
Based on property information with market context.
This 6-acre commercial property includes an approximately 15,000-square-foot industrial building and a separate office building. The industrial facility has a 27-foot peak height, 800 amps of 460-volt, 3-phase power, four roll-up doors, three loading docks, and a ground-level concrete ramp. Interior features include two bathrooms, a break room, a second-story office with mini-split air conditioning, and forced-air ventilation.
The standalone office provides three-zone air conditioning, two bathrooms, a break room, a full kitchen, three entry doors, and a double-door entrance. Fiber internet service is installed. The property is located at 1391 Flat Creek Road in Athens, Texas, near Highway 31 and Flat Creek Road, with land available for equipment storage, parking, expansion, or outdoor operations. Built in 1982 and zoned commercial, the site combines industrial improvements with dedicated administrative space.
The standalone office provides three-zone air conditioning, two bathrooms, a break room, a full kitchen, three entry doors, and a double-door entrance. Fiber internet service is installed. The property is located at 1391 Flat Creek Road in Athens, Texas, near Highway 31 and Flat Creek Road, with land available for equipment storage, parking, expansion, or outdoor operations. Built in 1982 and zoned commercial, the site combines industrial improvements with dedicated administrative space.
Key Highlights
- Approximately 15,000 square feet of industrial building area on 6 acres
- 800 amps of 460‑volt, 3‑phase power
- Four roll‑up doors measuring 14' high x 10' wide
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
$93,428
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
5.51%
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%
$1,868,560
$1.9M
Cap Rate 7%
$1,334,686
$1.3M
Cap Rate 9%
$1,038,089
$1.0M
Market Conditions
NOI Build-Up for 15,000 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
$122.4K $8.16/SF
− Vacancy
−$12.5K −$0.83/SF
EGI
$109.9K $7.33/SF
− OpEx
−$16.5K −$1.10/SF
NOI
$93.4K $6.23/SF
Area
Henderson County, TX
Vacancy
10.20%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
15.00%
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%
$1,868,560
Cap Rate 7%
$1,334,686
Cap Rate 9%
$1,038,089
Alternative Uses
Best Use
Office B
$3.58M
$3.14M – $4.18M
NOI $250,906 @ 7.0% cap · market cap 14.80%
Second Best
Flex RnD
$2.26M
$1.97M – $2.63M
NOI $157,950 @ 7.0% cap · market cap 9.32%
Theoretical Best
Office A
$5.28M
$4.62M – $6.16M
NOI $369,360 @ 7.0% cap · market cap 21.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Dock-high doors
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 75751, TX
17,100
Population
7,432
Households
2.3
Avg Household Size
39
Median Age
20%
College-Educated
85%
High-School Grad
180.4 sq mi
ZIP Area
95
Density / Sq Mi
$71,524
Median Household Income
$31,897
Median Earnings
$1,063
Median Rent
$205,200
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 - Dedicated office improvements, loading infrastructure, and high-voltage three-phase electrical service support varied commercial operations.
Where is this flex space located?
The property is located at 1391 Flat Creek Road Athens, TX.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Approximately 15,000 square feet of industrial building area on 6 acres; 800 amps of 460‑volt, 3‑phase power; Four roll‑up doors measuring 14' high x 10' wide
