Flex Building with Warehouse
New
For Sale
$695,000
1704 Rocky Ridge Rd, Athens, TX 75751
Commercial Sale, Athens, TX
Property Size8,400 SF
Lot Size5.02 Acres
Price / SF$82.74
Days on Market1
Property Features for 1704 Rocky Ridge Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
com
Subdivision
Henderson
Standard status
Active
APN
0019.1840.0000.01
Size
8,400 SF
Lot size
5.02 Acres
Taxes and HOA fees
Tax Description
AB 19 JB Atwood Sur. Tr. 184
Legal Description
AB 19 JB Atwood Sur. Tr. 184
Amenities
private offices
restrooms
break room
kitchenette
overhead doors
Building Details
Year built
1973
Listing Agency:
Keller Williams Realty - Athens
(903) 658-8848
Listed By:
Brad Rummel · License #0422393
(903) 681-3347
Added: Aug 25
Last Checked: Aug 25 at 2:06PM
MLS# 113348
Copyright © 2026 Henderson County 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 flex property combines 2,400 square feet of heated and cooled office area with 6,000 square feet of warehouse space. The office component includes multiple private offices, four restrooms, a break room, and a kitchenette. Warehouse improvements include four overhead doors for moving equipment, inventory, or materials in and out of the building. Constructed in 1973, the property contains 8,400 square feet on 5.02 acres and carries com zoning.
The offering includes the real estate only; businesses operating from the property are excluded from the sale. The building is occupied, and property tours must be arranged during business hours without disrupting business activity.
The offering includes the real estate only; businesses operating from the property are excluded from the sale. The building is occupied, and property tours must be arranged during business hours without disrupting business activity.
Key Highlights
- 8,400‑square‑foot commercial building on 5.02 acres
- 2,400 square feet of heated and cooled office space
- 6,000 square feet of warehouse 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
$52,320
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
7.53%
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%
$1,046,400
$1.0M
Cap Rate 7%
$747,429
$747.4K
Cap Rate 9%
$581,333
$581.3K
Market Conditions
NOI Build-Up for 8,400 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
$68.5K $8.16/SF
− Vacancy
−$7.0K −$0.83/SF
EGI
$61.6K $7.33/SF
− OpEx
−$9.2K −$1.10/SF
NOI
$52.3K $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%
$1,046,400
Cap Rate 7%
$747,429
Cap Rate 9%
$581,333
Alternative Uses
Best Use
Office B
$2.01M
$1.76M – $2.34M
NOI $140,507 @ 7.0% cap · market cap 20.22%
Second Best
Flex RnD
$1.26M
$1.11M – $1.47M
NOI $88,452 @ 7.0% cap · market cap 12.73%
Theoretical Best
Office A
$2.95M
$2.59M – $3.45M
NOI $206,842 @ 7.0% cap · market cap 29.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
207
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Office 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 - Combined office and warehouse improvements support administrative functions, storage, equipment, and ongoing commercial operations.
Where is this flex space located?
The property is located at 1704 Rocky Ridge Rd Athens, TX.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 8,400‑square‑foot commercial building on 5.02 acres; 2,400 square feet of heated and cooled office space; 6,000 square feet of warehouse area
