Flex Space With Industrial
For Sale
$1,695,000
1391 Flat Creek Rd, Athens, TX 75751
COMMERCIAL - Athens, TX
Property Size19,000 SF
Lot Size6.00 Acres
Price / SF$89.21
Days on Market153
Property Features for 1391 Flat Creek Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Inside City Limits
Directions
From Walmart, take FM 2495 (Flat Creek Road) and the building is on the left.
Standard status
Active
Size
19,000 SF
Lot size
6.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11200
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
bathrooms
break room
full kitchen
fiber internet
forced-air ventilation
three-zone air conditioning
mini-split air conditioning
Building Details
Year built
1982
Building materials
Metal Siding
Listing Agency:
Stewart & McGee Real Estate
(903) 675-5207
Listed By:
Julie Stewart · License #0391806
(903) 804-8003
Added: Mar 8
Changed: Aug 4
Last Checked: Aug 8 at 10:06AM
MLS# 26003684
Copyright © 2026 Greater Tyler Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property combines approximately 19,000 square feet of improvements across a main industrial building and a separate office building on 6 acres. The primary facility contains approximately 15,000 square feet, 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 support areas include two bathrooms, a break room, second-story office space, mini-split air conditioning, and forced-air ventilation.
The detached office building 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. Public water and public sewer serve the property, which is located at 1391 Flat Creek Rd in Athens, Texas, near Highway 31 and Flat Creek Road. The 1982 construction includes metal siding, central heating, and central air and electric cooling.
The detached office building 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. Public water and public sewer serve the property, which is located at 1391 Flat Creek Rd in Athens, Texas, near Highway 31 and Flat Creek Road. The 1982 construction includes metal siding, central heating, and central air and electric cooling.
Key Highlights
- 6 acres with 19,000 square feet of improvements
- Main industrial building contains approximately 15,000 square feet with 27‑foot peak height
- 800 amps of 460‑volt, 3‑phase power
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
$118,342
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
6.98%
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%
$2,366,840
$2.4M
Cap Rate 7%
$1,690,600
$1.7M
Cap Rate 9%
$1,314,911
$1.3M
Market Conditions
NOI Build-Up for 19,000 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
$155.0K $8.16/SF
− Vacancy
−$15.8K −$0.83/SF
EGI
$139.2K $7.33/SF
− OpEx
−$20.9K −$1.10/SF
NOI
$118.3K $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%
$2,366,840
Cap Rate 7%
$1,690,600
Cap Rate 9%
$1,314,911
Alternative Uses
Best Use
Office B
$4.54M
$3.97M – $5.30M
NOI $317,814 @ 7.0% cap · market cap 18.75%
Second Best
Flex RnD
$2.86M
$2.50M – $3.33M
NOI $200,070 @ 7.0% cap · market cap 11.80%
Theoretical Best
Office A
$6.68M
$5.85M – $7.80M
NOI $467,856 @ 7.0% cap · market cap 27.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Dock-high doors
Yes
Heavy power
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Includes dedicated office space, loading infrastructure, and heavy-duty electrical service for business operations.
Where is this flex space located?
The property is located at 1391 Flat Creek Rd 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: 6 acres with 19,000 square feet of improvements; Main industrial building contains approximately 15,000 square feet with 27‑foot peak height; 800 amps of 460‑volt, 3‑phase power
