Updated Office
For Sale
$449,500
1512 Crestridge Dr, Cleburne, TX 76033
Updated interior includes multiple offices, support rooms, a kitchen, three baths, and private parking.
Property Size2,100 SF
Price / SF$214.05
Days on Market33
Property Features for 1512 Crestridge Dr
General Information
Standard status
Active
Size
2,100 SF
Building Details
Year Built
1972
Listing Agency:
Coldwell Banker Apex, REALTORS
(682) 271-9070
Listed By:
Judy Oaks · License #0332780
Source:
Yourdavisteam
Added: Jul 27
Changed: Aug 28
Last Checked: Aug 28 at 1:04PM
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 Coldwell Banker Apex, REALTORS
Investment Insights
Based on property information with market context.
This 2,100-square-foot office building, constructed in 1972, has an updated interior organized for day-to-day business operations. The layout includes five offices, a work room, file room, storage area, reception space, lobby, three bathrooms, and a kitchen. A private parking lot serves the property.
The building is located at 1512 Crestridge Dr in Cleburne, near a busy intersection. Its combination of dedicated office rooms, administrative support areas, public-facing reception space, and on-site parking provides a defined commercial setting for an office user.
The building is located at 1512 Crestridge Dr in Cleburne, near a busy intersection. Its combination of dedicated office rooms, administrative support areas, public-facing reception space, and on-site parking provides a defined commercial setting for an office user.
Key Highlights
- 2,100 SF office building constructed in 1972
- Five offices plus work room, file room, and storage
- Reception area and lobby included
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
$35,127
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
7.81%
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%
$702,540
$702.5K
Cap Rate 7%
$501,814
$501.8K
Cap Rate 9%
$390,300
$390.3K
Market Conditions
NOI Build-Up for 2,100 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
$64.5K $30.72/SF
− Vacancy
−$17.7K −$8.42/SF
EGI
$46.8K $22.30/SF
− OpEx
−$11.7K −$5.58/SF
NOI
$35.1K $16.73/SF
Area
Johnson County, TX
Vacancy
27.40%
Lease Rate
$30.72 /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%
$702,540
Cap Rate 7%
$501,814
Cap Rate 9%
$390,300
Alternative Uses
Best Use
Office B
$501.8K
$439.1K – $585.5K
NOI $35,127 @ 7.0% cap · market cap 7.81%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$25.17M
$22.03M – $29.37M
NOI $1,762,038 @ 7.0% cap · market cap 392.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
846
Businesses Nearby
Explore this area
Business Placement
Demographics for 76033, TX
27,243
Population
10,962
Households
2.5
Avg Household Size
39
Median Age
21%
College-Educated
88%
High-School Grad
176.1 sq mi
ZIP Area
155
Density / Sq Mi
$69,870
Median Household Income
$40,168
Median Earnings
$1,287
Median Rent
$230,600
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 - Updated interior includes multiple offices, support rooms, a kitchen, three baths, and private parking.
Where is this office building located?
The property is located at 1512 Crestridge Dr Cleburne, TX.
What is the asking price?
The asking price for this property is $449,500.
What are key features of this property?
This property features: 2,100 SF office building constructed in 1972; Five offices plus work room, file room, and storage; Reception area and lobby included
