Flex Space with Warehouse and
For Sale
$1,399,999
1920 S 3rd Street, Mabank, TX 75147
SINGLE_FAMILY - Mabank, TX
Property Size5,000 SF
Lot Size2.93 Acres
Price / SF$279
Days on Market34
Property Features for 1920 S 3rd Street
General Information
Property type
Residential
Property subtype
Retail
Zoning description
C1
Parking features
Garage, Carport, Parking Lot
Security features
Security
Lot features
Acreage, Backs To Greenbelt Park, Landscaped, Sprinkler System
Directions
From Mabank and Hwy. 175, drive south on Hwy. 198, property will be on your left, near Tractor Supply.
Standard status
Active
APN
079404100A0051
Lot size
2.93 Acres
Taxes and HOA fees
Tax Description
AB 794 G T WALTERS SUR, TR 41A
Tax Annual Amount
15792
Legal Description
AB 794 G T WALTERS SUR, TR 41A
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
security cameras
kitchen
conference room
copier workroom
Building Details
Year built
1999
Floors in Building
1
Number of units
1
Flooring type
Concrete, Vinyl
Building materials
MetalSiding, Rock, Stone
Roof type
Metal
Listing Agency:
TX Lake & Land Real Estate
(903) 802-7080
Listed By:
Courtney Dickens Johnson · License #0607334
(214) 532-8327
Added: Jul 6
Changed: Aug 1
Last Checked: Aug 8 at 10:06AM
MLS# 21309451
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 property combines office, warehouse, and outdoor storage uses on 2.93 acres. Approximately 5,000 total square feet of building space includes 2,500 square feet of finished office area with 14 private offices, a conference room, kitchen break area, two bathrooms, and a copier workroom. The office includes interior and exterior security video cameras. An additional 2,500 square feet of warehouse/storage space features two high bay overhead doors and extra storage above the office area.
Covered parking totals approximately 3,750 square feet, with 16 total office parking spaces split between 12 covered and 4 uncovered spaces. The back portion of the property is currently used for uncovered RV, boat, and trailer storage secured by perimeter high fencing.
Additional revenue is supported by four billboards along the front of the property, and a front sign location with electrical service is in place. The facility was built in 1999 and is served by public water and public sewer, with a metal roof and electric central heating and cooling.
Covered parking totals approximately 3,750 square feet, with 16 total office parking spaces split between 12 covered and 4 uncovered spaces. The back portion of the property is currently used for uncovered RV, boat, and trailer storage secured by perimeter high fencing.
Additional revenue is supported by four billboards along the front of the property, and a front sign location with electrical service is in place. The facility was built in 1999 and is served by public water and public sewer, with a metal roof and electric central heating and cooling.
Key Highlights
- 2.93 acres with approx. 5,000 total SF flex office and warehouse building
- 2,500 SF finished office with 14 private offices plus conference room, kitchen break area, and two bathrooms
- Warehouse/storage includes two high bay overhead doors and extra storage above the office 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
$83,635
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
5.97%
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%
$1,672,700
$1.7M
Cap Rate 7%
$1,194,786
$1.2M
Cap Rate 9%
$929,278
$929.3K
Market Conditions
NOI Build-Up for 5,000 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
$153.6K $30.72/SF
− Vacancy
−$42.1K −$8.42/SF
EGI
$111.5K $22.30/SF
− OpEx
−$27.9K −$5.58/SF
NOI
$83.6K $16.73/SF
Area
Henderson 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%
$1,672,700
Cap Rate 7%
$1,194,786
Cap Rate 9%
$929,278
Alternative Uses
Best Use
Office B
$1.19M
$1.05M – $1.39M
NOI $83,635 @ 7.0% cap · market cap 5.97%
Second Best
Flex RnD
$752.1K
$658.1K – $877.5K
NOI $52,650 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,120 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 75147, TX
7,781
Population
3,302
Households
2.4
Avg Household Size
40
Median Age
19%
College-Educated
86%
High-School Grad
86.2 sq mi
ZIP Area
90
Density / Sq Mi
$60,520
Median Household Income
$34,572
Median Earnings
$899
Median Rent
$238,700
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?
Flex space - Flex space on 2.93 acres with finished office space, warehouse storage, covered parking, and secured RV and boat storage.
Where is this flex space located?
The property is located at 1920 S 3rd Street Mabank, TX.
What is the asking price?
The asking price for this property is $1,399,999.
What are key features of this property?
This property features: 2.93 acres with approx. 5,000 total SF flex office and warehouse building; 2,500 SF finished office with 14 private offices plus conference room, kitchen break area, and two bathrooms; Warehouse/storage includes two high bay overhead doors and extra storage above the office area
