Fenced Industrial Storage
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For Sale
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1504 W Corsicana St, Athens, TX 75751
Fenced concrete yard with an existing masonry building, exterior docks, and Real Commercial (F1) zoning.
Property Size24,821 SF
Lot Size5.40 Acres
Price / SF$78.56
Days on Market6
Property Features for 1504 W Corsicana St
General Information
Standard status
Active
Size
24,821 SF
Lot size
5.40 Acres
Property subtype
Industrial
Zoning
Real Commercial (F1)
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
23 ft
Dock-High Doors
3
Building Details
Buildings
1
Construction
masonry
Listing Agency:
CBRE - Dallas McKinney
Listed By:
David Glasscock · License #TX 298573
(214) 979-6100
Source:
Crexi
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 13 at 4:10AM
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 CBRE - Dallas McKinney
Investment Insights
Based on property information with market context.
This industrial property combines a 5.4-acre site (±235,224 SF) with a 24,821 SF masonry building. The improvements include 23' clear height, three exterior docks, and surface parking. Building coverage is 10.6%, leaving roughly 4.8 acres for a fenced, secured concrete yard suited to outdoor storage and industrial operations.
The property fronts West Corsicana Street along Business SH 31 at the western edge of Athens, west of the downtown square and near the SH 31 / Loop 7 interchange. Loop 7 connects with U.S. 175, SH 19, and SH 31, providing four-lane routes toward Dallas, Tyler, Corsicana, and Palestine. Athens is approximately 70 miles southeast of downtown Dallas via U.S. 175. The site is zoned Real Commercial (F1) and was most recently occupied by Brightspeed.
The property fronts West Corsicana Street along Business SH 31 at the western edge of Athens, west of the downtown square and near the SH 31 / Loop 7 interchange. Loop 7 connects with U.S. 175, SH 19, and SH 31, providing four-lane routes toward Dallas, Tyler, Corsicana, and Palestine. Athens is approximately 70 miles southeast of downtown Dallas via U.S. 175. The site is zoned Real Commercial (F1) and was most recently occupied by Brightspeed.
Key Highlights
- 5.4 acres (±235,224 SF) with a 24,821 SF masonry building
- Roughly 4.8 acres of fenced, secured concrete yard
- Building coverage is 10.6%, preserving substantial outdoor storage 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
$154,598
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
7.93%
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%
$3,091,960
$3.1M
Cap Rate 7%
$2,208,543
$2.2M
Cap Rate 9%
$1,717,756
$1.7M
Market Conditions
NOI Build-Up for 24,821 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
$202.5K $8.16/SF
− Vacancy
−$20.7K −$0.83/SF
EGI
$181.9K $7.33/SF
− OpEx
−$27.3K −$1.10/SF
NOI
$154.6K $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%
$3,091,960
Cap Rate 7%
$2,208,543
Cap Rate 9%
$1,717,756
Alternative Uses
Best Use
Warehouse
$2.21M
$1.93M – $2.58M
NOI $154,598 @ 7.0% cap · market cap 7.93%
Second Best
Industrial
$1.84M
$1.61M – $2.15M
NOI $128,876 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$8.73M
$7.64M – $10.19M
NOI $611,192 @ 7.0% cap · market cap 31.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
23 ft
Clear height
3
Dock-high doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Industrial property - Fenced concrete yard with an existing masonry building, exterior docks, and Real Commercial (F1) zoning.
Where is this industrial property located?
The property is located at 1504 W Corsicana St Athens, TX.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 5.4 acres (±235,224 SF) with a 24,821 SF masonry building; Roughly 4.8 acres of fenced, secured concrete yard; Building coverage is 10.6%, preserving substantial outdoor storage area
