Flex Space with Highway
New
For Sale
$3,000,000
201 Fm 1237, Troy, TX 76579
CommercialSale, Troy, TX
Property Size20,172 SF
Lot Size3.85 Acres
Price / SF$148.72
Days on Market2
Property Features for 201 Fm 1237
General Information
Property type
Commercial Sale
Property subtype
Other
Interior features
Storage
Exterior features
Storage
Lot features
Three To Five Acres, Corner Lot, City Lot
Directions
Head southwest on I-35 S ? 1.4 mi Slight right ? 0.2 mi Merge onto S Central Ave/I 35 N Frontage Rd ? 1.5 mi Werks 11 201 FM1237, Troy, TX 76579
Standard status
Active
APN
61135
Size
20,172 SF
Lot size
3.85 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
A0784BC B STRUNK, 5, KOPRIVA'S CABINETS, ACRES 3.852
Tax Annual Amount
13178
Legal Description
A0784BC B STRUNK, 5, KOPRIVA'S CABINETS, ACRES 3.852
Utilities
Sewer type
Septic Tank
Building Details
Year built
1977
Floors in Building
1
Flooring type
Concrete, Vinyl
Building materials
Brick, SteelFrame
Roof type
Metal
Additional Structures
Storage
Listing Agency:
EG Realty
(254) 218-4220
Listed By:
Jason Johnson · License #0735122
(254) 541-0318
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 10:06PM
MLS# 627793
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 20,172-square-foot flex property sits on a 3.852-acre parcel in Troy. Built in 1977, the building has brick and steel-frame construction, a metal roof, and vinyl and concrete flooring. Storage is identified among its interior and exterior features, and the property is served by a septic tank.
The site has direct access to I-35, including immediate on- and off-highway access and a connection from the highway underpass. The address is on FM 1237 in Bell County.
The site has direct access to I-35, including immediate on- and off-highway access and a connection from the highway underpass. The address is on FM 1237 in Bell County.
Key Highlights
- 20,172 square feet of flex space
- 3.852‑acre parcel
- Immediate on- and off‑access to I‑35
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$246,995
Cap Rate
8.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,939,900
$4.9M
Cap Rate 7%
$3,528,500
$3.5M
Cap Rate 9%
$2,744,389
$2.7M
Market Conditions
NOI Build-Up for 20,172 SF
Gross rent
$404.2K $20.04/SF
− Vacancy
−$24.3K −$1.20/SF
EGI
$380.0K $18.84/SF
− OpEx
−$133.0K −$6.59/SF
NOI
$247.0K $12.24/SF
Area
Bell County, TX
Vacancy
6.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,939,900
Cap Rate 7%
$3,528,500
Cap Rate 9%
$2,744,389
Alternative Uses
Best Use
Flex RnD
$3.53M
$3.09M – $4.12M
NOI $246,995 @ 7.0% cap · market cap 8.23%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$225.19M
$197.04M – $262.72M
NOI $15,763,450 @ 7.0% cap · market cap 525.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76579, TX
5,120
Population
2,133
Households
2.4
Avg Household Size
37
Median Age
25%
College-Educated
94%
High-School Grad
59.5 sq mi
ZIP Area
86
Density / Sq Mi
$83,146
Median Household Income
$46,216
Median Earnings
$1,185
Median Rent
$225,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - The property combines substantial site area with direct access to I-35 and an underpass connection.
Where is this flex space located?
The property is located at 201 Fm 1237 Troy, TX.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 20,172 square feet of flex space; 3.852‑acre parcel; Immediate on- and off‑access to I‑35
