Flex Building with Roll-Up Door
For Sale
$1,700,000
185 State Highway 36 N, Caldwell, TX 77836
Well-maintained flex building with showroom offices and a back shop with 12x12 roll-up doors.
Property Size5,180 SF
Lot Size1.57 Acres
Price / SF$328.19
Days on Market208
Property Features for 185 State Highway 36 N
General Information
Standard status
Active
Size
5,180 SF
Lot size
1.57 Acres
Property subtype
Land
Site & Location
Traffic Count
33,566 vehicles/day
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Office Units
4
Listing Agency:
Armstrong Properties
Listed By:
Jessica Armstrong · License #0574391
(979) 567-7653
Source:
Phyllisbrowning
Added: Feb 9
Changed: Sep 5
Last Checked: Sep 5 at 8:37AM
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 Armstrong Properties
Investment Insights
Based on property information with market context.
This well-maintained flex building includes two functional sections: a front retail/showroom area and a back service shop. The main showroom features an expansive open layout with a service counter, restrooms, kitchenette, and four private office spaces. The rear shop is equipped with 12x12 roll-up doors and includes spray foam insulation, 220-volt outlets, LED commercial lighting, and plumbing for air. Safety and utility features in the shop include an eye wash station, sink, and shower. The property is set up for internet, surround sound, and security video service.
The site sits on an approximately 1.57-acre lot with main access off State Highway 36 and a secondary access off a paved city street behind the building. The HWY 21/HWY 36 intersection reports an average annual daily traffic count of 33,566 vehicles. City of Caldwell utilities are provided.
With an oversized lot designed for on-site vehicle parking, the property can support customer access, inventory display, or room for operational expansion within the existing retail and light industrial-style shop layout.
The site sits on an approximately 1.57-acre lot with main access off State Highway 36 and a secondary access off a paved city street behind the building. The HWY 21/HWY 36 intersection reports an average annual daily traffic count of 33,566 vehicles. City of Caldwell utilities are provided.
With an oversized lot designed for on-site vehicle parking, the property can support customer access, inventory display, or room for operational expansion within the existing retail and light industrial-style shop layout.
Key Highlights
- Well‑maintained 5,180 SF commercial building built in 2008 on a 1.57‑acre lot
- Two‑section layout with a retail showroom area, service counter, restrooms, kitchenette, and 4 private office spaces
- Back service shop includes 12x12 roll‑up doors, spray foam insulation, 220 outlet, and LED commercial lighting
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
$56,043
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
3.30%
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%
$1,120,860
$1.1M
Cap Rate 7%
$800,614
$800.6K
Cap Rate 9%
$622,700
$622.7K
Market Conditions
NOI Build-Up for 5,180 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
$87.0K $16.80/SF
− Vacancy
−$7.0K −$1.34/SF
EGI
$80.1K $15.46/SF
− OpEx
−$24.0K −$4.64/SF
NOI
$56.0K $10.82/SF
Area
Burleson County, TX
Vacancy
8.00%
Lease Rate
$16.80 /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%
$1,120,860
Cap Rate 7%
$800,614
Cap Rate 9%
$622,700
Alternative Uses
Best Use
Retail
$800.6K
$700.5K – $934.1K
NOI $56,043 @ 7.0% cap · market cap 3.30%
Second Best
Flex RnD
$671.0K
$587.1K – $782.8K
NOI $46,970 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,287 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
33,566 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77836, TX
11,721
Population
5,990
Households
2
Avg Household Size
45
Median Age
22%
College-Educated
86%
High-School Grad
431.1 sq mi
ZIP Area
27
Density / Sq Mi
$79,567
Median Household Income
$45,291
Median Earnings
$869
Median Rent
$199,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained flex building with showroom offices and a back shop with 12x12 roll-up doors.
Where is this flex space located?
The property is located at 185 State Highway 36 N Caldwell, TX.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Well‑maintained 5,180 SF commercial building built in 2008 on a 1.57‑acre lot; Two‑section layout with a retail showroom area, service counter, restrooms, kitchenette, and 4 private office spaces; Back service shop includes 12x12 roll‑up doors, spray foam insulation, 220 outlet, and LED commercial lighting
