Adaptable Flex
For Sale
$400,000
151 Morrow Road, Springtown, TX 76082
CommercialSale, Springtown, TX
Property Size3,200 SF
Lot Size0.50 Acres
Price / SF$125
Days on Market97
Property Features for 151 Morrow Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Comm.
Parking features
Driveway, Oversize, Open, Garage
Subdivision
SURV: MARY THOMAS
Lot features
Cleared, Sloped
Directions
From I-20: Take the exit for FM 51 Main Street and head north toward Springtown. Continue on FM 51 through Springtown, then turn east onto SH-199. Travel approximately 2 miles and turn right onto Morrow Road. Continue about 500 feet, and the property at 151 Morrow Road will be on the left.
Standard status
Active
APN
R000082107
Lot size
0.50 Acres
Taxes and HOA fees
Tax Description
ACRES: 0.500 TR: BLK: SURV: MARY THOMAS
Tax Annual Amount
2813
Legal Description
ACRES: 0.500 TR: BLK: SURV: MARY THOMAS
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Building Details
Year built
2004
Floors in Building
1
Number of units
1
Flooring type
Carpet, Concrete, Tile
Building materials
MetalSiding, Concrete, SteelSiding
Roof type
Metal
Listing Agency:
CENTURY 21 Judge Fite Co. · Century 21 Real Estate
(817) 731-8667
Listed By:
Cassy Nutt
(214) 920-9611
Added: Jul 10
Changed: Oct 10
Last Checked: Oct 14 at 4:06PM
MLS# 21310801
Copyright © 2026 North Texas Real Estate Information Systems, Inc. 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 2004 flex property combines heated and cooled commercial space with an insulated warehouse area and a covered porch. The layout supports office functions, customer-facing retail, service operations, distribution, light industrial activity, storage, equipment handling, or a combination of uses. Interior finishes include concrete, carpet, and tile flooring, while central electric heating and cooling serve the conditioned areas. The building also features a metal roof, concrete construction elements, and metal siding.
The property sits 500 feet off SH-199 between Azle and Springtown, providing access from a regional highway corridor. The site encompasses 0.5 acres and includes open, garage, oversized, and driveway parking features. A septic tank serves the property. The covered exterior area adds space for outdoor operations, customer pickup, or equipment storage.
The property sits 500 feet off SH-199 between Azle and Springtown, providing access from a regional highway corridor. The site encompasses 0.5 acres and includes open, garage, oversized, and driveway parking features. A septic tank serves the property. The covered exterior area adds space for outdoor operations, customer pickup, or equipment storage.
Key Highlights
- Flex property built in 2004
- 0.5‑acre commercial site
- 500 feet off SH‑199 between Azle and Springtown
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,462
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$469,240
$469.2K
Cap Rate 7%
$335,171
$335.2K
Cap Rate 9%
$260,689
$260.7K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$38.4K $12.00/SF
− Vacancy
−$2.3K −$0.72/SF
EGI
$36.1K $11.28/SF
− OpEx
−$12.6K −$3.95/SF
NOI
$23.5K $7.33/SF
Area
Parker County, TX
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$469,240
Cap Rate 7%
$335,171
Cap Rate 9%
$260,689
Alternative Uses
Best Use
Industrial
$3.18M
$2.78M – $3.71M
NOI $222,580 @ 7.0% cap · market cap 55.65%
Second Best
Office B
$579.7K
$507.3K – $676.4K
NOI $40,582 @ 7.0% cap · market cap 10.15%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76082, TX
21,514
Population
8,576
Households
2.5
Avg Household Size
40
Median Age
16%
College-Educated
87%
High-School Grad
102.8 sq mi
ZIP Area
209
Density / Sq Mi
$93,553
Median Household Income
$49,323
Median Earnings
$1,275
Median Rent
$277,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Metal-sided commercial facility combining conditioned work areas, warehouse space, and a covered porch for varied business operations.
Where is this flex space located?
The property is located at 151 Morrow Road Springtown, TX.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Flex property built in 2004; 0.5‑acre commercial site; 500 feet off SH‑199 between Azle and Springtown
