1.5-Story Office Building on Corner
For Sale
$250,000
1400 Farm To Market Road 609, Flatonia, TX 78941
COMMERCIAL - Flatonia, TX
Property Size1,420 SF
Lot Size0.63 Acres
Price / SF$176.06
Days on Market42
Property Features for 1400 Farm To Market Road 609
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
1
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2
Elementary school district
Flatonia ISD
Middle school district
Flatonia ISD
High school district
Flatonia ISD
Directions
From IH-10, travel north on FM 609 to 1400 FM 609, Flatonia on the left, across from Amigo's truck stop.
Standard status
Active
APN
R46365
Size
1,420 SF
Lot size
0.63 Acres
Taxes and HOA fees
Tax Annual Amount
2515
Utilities
Water source
Public
Building Details
Year built
1984
Floors in Building
2
Roof type
Metal
Listing Agency:
South Central Real Estate
Flatonia: 361-865-2563 Schulenburg: 979-743-3465
Listed By:
Tanya Schindler · License #510632
Flatonia: 361-865-2563 Schulenburg: 979-743-3465
Added: Jul 1
Changed: Aug 4
Last Checked: Aug 11 at 9:06AM
MLS# 152432
Copyright © 2026 South Central Texas Board 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 1.5-story commercial building offers a practical office layout with multiple desk and work areas, a small kitchen space, and one full bathroom plus a half bath. The property has been most recently used as a real estate sales office, and it is configured to support day-to-day client and staff use. The sale also notes that the storage shed will be moved from the land.
Located on a corner lot at the intersection of FM 609 and Slaughterhouse Road in Flatonia, Texas, the building benefits from straightforward access and visibility associated with that street-corner positioning. The site is sized at 0.63 acres, providing room for an accommodating commercial footprint.
For prospective buyers, this property can be considered for a range of office-oriented businesses that need built-in work areas and basic in-unit amenities such as a kitchen and multiple restrooms. It may also suit an operator seeking an owner-occupied setup, with the flexibility to adapt the interior to their workflow while leveraging the corner-lot location for customer access.
Located on a corner lot at the intersection of FM 609 and Slaughterhouse Road in Flatonia, Texas, the building benefits from straightforward access and visibility associated with that street-corner positioning. The site is sized at 0.63 acres, providing room for an accommodating commercial footprint.
For prospective buyers, this property can be considered for a range of office-oriented businesses that need built-in work areas and basic in-unit amenities such as a kitchen and multiple restrooms. It may also suit an operator seeking an owner-occupied setup, with the flexibility to adapt the interior to their workflow while leveraging the corner-lot location for customer access.
Key Highlights
- 1,400 SF 1.5‑story commercial building built in 1984
- 0.63‑acre corner lot at the intersection of FM 609 and Slaughterhouse Road in Flatonia, TX
- Metal roof; public water source
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
$19,020
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
7.61%
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%
$380,400
$380.4K
Cap Rate 7%
$271,714
$271.7K
Cap Rate 9%
$211,333
$211.3K
Market Conditions
NOI Build-Up for 1,420 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
$34.9K $24.60/SF
− Vacancy
−$9.6K −$6.74/SF
EGI
$25.4K $17.86/SF
− OpEx
−$6.3K −$4.46/SF
NOI
$19.0K $13.39/SF
Area
Fayette County, TX
Vacancy
27.40%
Lease Rate
$24.60 /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%
$380,400
Cap Rate 7%
$271,714
Cap Rate 9%
$211,333
Alternative Uses
Best Use
Office B
$271.7K
$237.8K – $317.0K
NOI $19,020 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$15.92M
$13.93M – $18.57M
NOI $1,114,421 @ 7.0% cap · market cap 445.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 78941, TX
3,006
Population
1,749
Households
1.7
Avg Household Size
47
Median Age
17%
College-Educated
88%
High-School Grad
161.8 sq mi
ZIP Area
19
Density / Sq Mi
$75,694
Median Household Income
$36,270
Median Earnings
$882
Median Rent
$171,900
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?
Office building - Versatile 1.5-story office with multiple work areas and kitchen, set on a corner lot at FM 609 and Slaughterhouse Road.
Where is this office building located?
The property is located at 1400 Farm To Market Road 609 Flatonia, TX.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,400 SF 1.5‑story commercial building built in 1984; 0.63‑acre corner lot at the intersection of FM 609 and Slaughterhouse Road in Flatonia, TX; Metal roof; public water source
