Flex Space with Ground-Level
For Sale
$1,750,000
2020 S Interstate 35 Road, Belton, TX 76513
CommercialSale, Belton, TX
Property Size12,990 SF
Lot Size1.04 Acres
Price / SF$134.72
Days on Market1072
Property Features for 2020 S Interstate 35 Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Parking features
RV, Oversize, Carport
Subdivision
M F Connell
Lot features
One To Three Acres, City Lot
Elementary school
Leon Heights Elementary
Middle school
South Belton Middle School
High school
Belton High School
Elementary school district
Belton ISD
Middle school district
Belton ISD
High school district
Belton ISD
Directions
From I-35 Exit 293A, on Right
Standard status
Active
APN
148862
Size
12,990 SF
Lot size
1.04 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
A0006BC M F CONNELL, AKA LT PT OF 6 BLK 2, BURTON OB ACRES 1.042
Tax Annual Amount
2879
Legal Description
A0006BC M F CONNELL, AKA LT PT OF 6 BLK 2, BURTON OB ACRES 1.042
Utilities
Sewer type
Public Sewer, Septic Tank
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1949
Floors in Building
1
Flooring type
Carpet, Concrete
Building materials
MetalFrame
Roof type
Metal
Listing Agency:
Pete & Larry
(254) 718-8604
Listed By:
Rose Durham · License #0679442
(254) 721-4872
Added: Sep 22, 2023
Changed: Aug 20
Last Checked: Aug 28 at 11:06AM
MLS# 521981
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.
Investment Insights
Based on property information with market context.
This flex property at 2020 S Interstate 35 Road includes 8 ground-level bays along with warehouse and office areas. The metal-frame building was constructed in 1949 and features a metal roof, concrete and carpet flooring, electric heat, and a combination of public water, public sewer, and septic service. The 1.042-acre site also provides RV, oversized, and carport parking options.
Access is supported by two curb cuts, allowing movement from the west side of I-35 through the property toward Peneople St. The location is positioned at the I-35 and I-14 interchange, with reported traffic of 165,319 vehicles per day in 2022. C zoning is also in place.
Access is supported by two curb cuts, allowing movement from the west side of I-35 through the property toward Peneople St. The location is positioned at the I-35 and I-14 interchange, with reported traffic of 165,319 vehicles per day in 2022. C zoning is also in place.
Key Highlights
- 8 ground‑level bays serving the warehouse and office configuration
- 1.042‑acre site at the I‑35 and I‑14 interchange
- Reported traffic count of 165,319 vehicles per day in 2022
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
$159,055
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
9.09%
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%
$3,181,100
$3.2M
Cap Rate 7%
$2,272,214
$2.3M
Cap Rate 9%
$1,767,278
$1.8M
Market Conditions
NOI Build-Up for 12,990 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
$260.3K $20.04/SF
− Vacancy
−$15.6K −$1.20/SF
EGI
$244.7K $18.84/SF
− OpEx
−$85.6K −$6.59/SF
NOI
$159.1K $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 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%
$3,181,100
Cap Rate 7%
$2,272,214
Cap Rate 9%
$1,767,278
Alternative Uses
Best Use
Flex RnD
$2.27M
$1.99M – $2.65M
NOI $159,055 @ 7.0% cap · market cap 9.09%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$145.02M
$126.89M – $169.18M
NOI $10,151,061 @ 7.0% cap · market cap 580.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76513, TX
43,698
Population
16,004
Households
2.7
Avg Household Size
36
Median Age
33%
College-Educated
89%
High-School Grad
108.3 sq mi
ZIP Area
403
Density / Sq Mi
$82,366
Median Household Income
$38,428
Median Earnings
$1,216
Median Rent
$260,200
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 - Metal-frame commercial property with warehouse, office areas, multiple curb cuts, and direct access between Interstate 35 and Peneople St.
Where is this flex space located?
The property is located at 2020 S Interstate 35 Road Belton, TX.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 8 ground‑level bays serving the warehouse and office configuration; 1.042‑acre site at the I‑35 and I‑14 interchange; Reported traffic count of 165,319 vehicles per day in 2022
