Controlled-Air Flex
For Sale
$375,000
155 N 1st Street, Hewitt, TX 76643
CommercialSale, Hewitt, TX
Property Size2,400 SF
Lot Size0.38 Acres
Price / SF$156.25
Days on Market133
Property Features for 155 N 1st Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-O
Subdivision
Arnold-Allen Add
Directions
Highway 84 to South on Hewitt drive to left on 1st street to property on the left.
Standard status
Active
APN
363015000004004
Lot size
0.38 Acres
Taxes and HOA fees
Tax Description
ARNOLD-ALLEN ADD LOT 4 BLOCK 1 ACRES .3806
Tax Annual Amount
6334
Legal Description
ARNOLD-ALLEN ADD LOT 4 BLOCK 1 ACRES .3806
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Number of units
1
Flooring type
Concrete, Tile
Building materials
SteelSiding
Roof type
Metal
Listing Agency:
Kelly, Realtors
(254) 741-1500
Listed By:
Kevin Collins · License #0483618
(254) 741-1500
Added: Apr 22
Changed: Aug 25
Last Checked: Sep 1 at 5:06PM
MLS# 21240252
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.
Built in 1985, this 2,400-square-foot flex property combines controlled-air space with warehouse functionality. Approximately 1,600 square feet is controlled air, while the 800-square-foot warehouse includes additional enclosed controlled-air space. Concrete and tile flooring support a practical interior configuration.
The 0.381-acre property is located at 155 N 1st Street in Hewitt, Texas. Building systems include central electric heating and central air conditioning, with public water and public sewer service. Steel siding and a metal roof complete the exterior construction.
The 0.381-acre property is located at 155 N 1st Street in Hewitt, Texas. Building systems include central electric heating and central air conditioning, with public water and public sewer service. Steel siding and a metal roof complete the exterior construction.
Key Highlights
- 2400 total square feet with 1600 controlled air
- 800 square feet of warehouse area with additional enclosed controlled air space
- 0.381‑acre site in Hewitt, TX
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
$17,222
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
4.59%
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%
$344,440
$344.4K
Cap Rate 7%
$246,029
$246.0K
Cap Rate 9%
$191,356
$191.4K
Market Conditions
NOI Build-Up for 2,400 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
$28.8K $12.00/SF
− Vacancy
−$2.3K −$0.96/SF
EGI
$26.5K $11.04/SF
− OpEx
−$9.3K −$3.86/SF
NOI
$17.2K $7.18/SF
Area
McLennan County, TX
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$344,440
Cap Rate 7%
$246,029
Cap Rate 9%
$191,356
Alternative Uses
Best Use
Flex RnD
$246.0K
$215.3K – $287.0K
NOI $17,222 @ 7.0% cap · market cap 4.59%
Second Best
Warehouse
$211.9K
$185.4K – $247.2K
NOI $14,833 @ 7.0% cap · market cap 3.96%
Theoretical Best
Multifamily LT 5
$29.90M
$26.16M – $34.88M
NOI $2,092,869 @ 7.0% cap · market cap 558.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76643, TX
16,044
Population
6,231
Households
2.6
Avg Household Size
42
Median Age
37%
College-Educated
95%
High-School Grad
7.6 sq mi
ZIP Area
2,111
Density / Sq Mi
$83,798
Median Household Income
$50,432
Median Earnings
$1,389
Median Rent
$252,200
Median Home Value
Market
Vacancy Rate% for Industrial 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 - Steel-sided flex property with climate-controlled areas and a separate warehouse component.
Where is this flex space located?
The property is located at 155 N 1st Street Hewitt, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2400 total square feet with 1600 controlled air; 800 square feet of warehouse area with additional enclosed controlled air space; 0.381‑acre site in Hewitt, TX
