Four-Bay Automotive
For Sale
$425,000
206 Watters Street, Cleburne, TX 76031
Fenced automotive facility with dedicated offices, on-site parking, and vehicle access designed for efficient service operations.
Property Size3,320 SF
Price / SF$128.01
Days on Market27
Property Features for 206 Watters Street
General Information
Standard status
Active
Size
3,320 SF
Property subtype
CommercialSale
Listing Agency:
Keller Williams Brazos West
(817) 279-6996
Listed By:
Paula Maples · License #0557491
Source:
Susiethompson
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 28 at 12:06PM
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 Keller Williams Brazos West
Investment Insights
Based on property information with market context.
This 3,320-square-foot automotive facility was built in 1994 and includes four service bays, three car lifts, a dedicated owner’s office, and additional office space. The layout supports automotive repair, maintenance, or specialty service operations, with room for both vehicle workflow and administrative functions.
The property at 206 Watters St in Cleburne, Texas, offers on-site parking, a fully fenced site, and convenient vehicle access. The additional office area may support rental use or provide overflow workspace, subject to buyer verification and applicable requirements.
The property at 206 Watters St in Cleburne, Texas, offers on-site parking, a fully fenced site, and convenient vehicle access. The additional office area may support rental use or provide overflow workspace, subject to buyer verification and applicable requirements.
Key Highlights
- 3,320 SF automotive facility built in 1994
- Four service bays and three car lifts
- Dedicated owner’s office plus additional office space
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
$17,154
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
4.04%
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%
$343,080
$343.1K
Cap Rate 7%
$245,057
$245.1K
Cap Rate 9%
$190,600
$190.6K
Market Conditions
NOI Build-Up for 3,320 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
$27.0K $8.12/SF
− Vacancy
−$2.5K −$0.74/SF
EGI
$24.5K $7.38/SF
− OpEx
−$7.4K −$2.21/SF
NOI
$17.2K $5.17/SF
Area
Johnson County, TX
Vacancy
9.10%
Lease Rate
$8.12 /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%
$343,080
Cap Rate 7%
$245,057
Cap Rate 9%
$190,600
Alternative Uses
Best Use
Retail
$787.2K
$688.8K – $918.5K
NOI $55,107 @ 7.0% cap · market cap 12.97%
Second Best
Industrial
$245.1K
$214.4K – $285.9K
NOI $17,154 @ 7.0% cap · market cap 4.04%
Theoretical Best
Multifamily LT 5
$39.80M
$34.82M – $46.43M
NOI $2,785,697 @ 7.0% cap · market cap 655.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76031, TX
18,398
Population
6,596
Households
2.8
Avg Household Size
38
Median Age
15%
College-Educated
81%
High-School Grad
72.7 sq mi
ZIP Area
253
Density / Sq Mi
$70,672
Median Household Income
$39,335
Median Earnings
$1,274
Median Rent
$203,500
Median Home Value
Market
Vacancy Rate% for Retail 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?
Auto shop - Fenced automotive facility with dedicated offices, on-site parking, and vehicle access designed for efficient service operations.
Where is this auto shop located?
The property is located at 206 Watters Street Cleburne, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,320 SF automotive facility built in 1994; Four service bays and three car lifts; Dedicated owner’s office plus additional office space
