Flex Space with Air-Conditioned
For Sale
$850,000
1742 S US Highway 287, Corsicana, TX 75110
COMMERCIAL - Corsicana, TX
Property Size8,500 SF
Lot Size1.35 Acres
Price / SF$100
Days on Market246
Property Features for 1742 S US Highway 287
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Off Street, Carport
Security features
Security
Subdivision
Corsicana
Directions
Refer to GPS. SOP
Standard status
Active
APN
49428
Size
8,500 SF
Lot size
1.35 Acres
Taxes and HOA fees
Tax Description
C0000 CORSICANA BLK 1326 LOT 8A 1.35 ACRES
Tax Annual Amount
4550
Legal Description
C0000 CORSICANA BLK 1326 LOT 8A 1.35 ACRES
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1987
Floors in Building
1
Number of units
2
Flooring type
Laminate, Tile
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Ebby Halliday Realtors
(903) 499-9909
Listed By:
Celestina Hillock · License #0627624
(972) 772-1369
Added: Dec 29, 2025
Changed: Aug 4
Last Checked: Sep 1 at 3:06PM
MLS# 21137086
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 flex space features an 8,500 SF metal building designed to support both administrative and operational needs. The front includes 1,200 SF of air-conditioned office space with two offices and a reception area, along with central heating and central air. The rear shop area provides room for equipment storage and fabrication, and includes a break room and one bathroom within the shop. A 2,000 SF carport at the back adds covered workspace and parking flexibility. The building has a metal roof and metal siding, with tile and laminate flooring.
The property sits on a 1.35-acre lot at 1742 S US Highway 287 in Corsicana, TX, just down the road from Interstate 45. It is served by public water and public sewer and includes off-street parking plus the back carport.
Built in 1987, the facility is well-suited for industrial, construction, or service-based operations that need a mix of office functionality and a larger shop environment.
The property sits on a 1.35-acre lot at 1742 S US Highway 287 in Corsicana, TX, just down the road from Interstate 45. It is served by public water and public sewer and includes off-street parking plus the back carport.
Built in 1987, the facility is well-suited for industrial, construction, or service-based operations that need a mix of office functionality and a larger shop environment.
Key Highlights
- 8,500 SF metal building on a 1.35‑acre lot
- 1,200 SF air‑conditioned office area with two offices and a reception area
- Rear shop includes a break room and one bathroom
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
$54,518
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
6.41%
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%
$1,090,360
$1.1M
Cap Rate 7%
$778,829
$778.8K
Cap Rate 9%
$605,756
$605.8K
Market Conditions
NOI Build-Up for 8,500 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
$85.7K $10.08/SF
− Vacancy
−$7.8K −$0.92/SF
EGI
$77.9K $9.16/SF
− OpEx
−$23.4K −$2.75/SF
NOI
$54.5K $6.41/SF
Area
Navarro County, TX
Vacancy
9.10%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
30.00%
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%
$1,090,360
Cap Rate 7%
$778,829
Cap Rate 9%
$605,756
Alternative Uses
Best Use
Industrial
$778.8K
$681.5K – $908.6K
NOI $54,518 @ 7.0% cap · market cap 6.41%
Second Best
Flex RnD
$594.6K
$520.3K – $693.7K
NOI $41,622 @ 7.0% cap · market cap 4.90%
Theoretical Best
Multifamily LT 5
$93.38M
$81.71M – $108.94M
NOI $6,536,697 @ 7.0% cap · market cap 769.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75110, TX
30,336
Population
11,980
Households
2.5
Avg Household Size
35
Median Age
17%
College-Educated
77%
High-School Grad
137.5 sq mi
ZIP Area
221
Density / Sq Mi
$53,053
Median Household Income
$29,804
Median Earnings
$1,043
Median Rent
$169,200
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 - Versatile flex space with metal shop, air-conditioned office areas, and a covered carport for additional workspace and parking.
Where is this flex space located?
The property is located at 1742 S US Highway 287 Corsicana, TX.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 8,500 SF metal building on a 1.35‑acre lot; 1,200 SF air‑conditioned office area with two offices and a reception area; Rear shop includes a break room and one bathroom
