Fenced-Yard Flex
For Sale
$1,350,000
2309 N Main St, Cleburne, TX 76033
Flex property with a secured outdoor yard, three-phase electrical service, and direct access to established transportation routes.
Property Size11,000 SF
Price / SF$122.73
Days on Market288
Property Features for 2309 N Main St
General Information
Standard status
Active
Size
11,000 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Three-Phase Power
Yes
Building Details
Year Built
1972
Buildings
1
Building Size
11,000 SF
Listing Agency:
Elevate Realty Group
(817) 736-5757
Listed By:
Lori Brannon (817) 736-5757 · License #0696730
Source:
Northtexashomeguide
Added: Nov 14, 2025
Changed: Aug 28
Last Checked: Aug 29 at 10:30AM
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 Elevate Realty Group
Investment Insights
Based on property information with market context.
Located at 2309 N Main St in Cleburne, this approximately 11,000-square-foot flex property was built in 1972. The building is paired with a fully enclosed yard that can support secure parking, equipment storage, or other operational needs. Three-phase electrical service adds functionality for industrial, service, and trade-oriented operations.
The property fronts Highway 174 near its intersection with Highway 67 and provides access to the Chisholm Trail Parkway. Its position along an established commercial corridor supports connectivity for customers, vendors, and distribution activities. An adjacent building is also offered for purchase, creating an option to acquire additional space, and a combined listing is available for both properties.
The property fronts Highway 174 near its intersection with Highway 67 and provides access to the Chisholm Trail Parkway. Its position along an established commercial corridor supports connectivity for customers, vendors, and distribution activities. An adjacent building is also offered for purchase, creating an option to acquire additional space, and a combined listing is available for both properties.
Key Highlights
- Approximately 11,000 square feet of flex and industrial‑commercial building area
- Fully fenced perimeter yard for secure parking, equipment storage, or operations
- Three‑phase electrical service
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
$56,834
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
4.21%
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%
$1,136,680
$1.1M
Cap Rate 7%
$811,914
$811.9K
Cap Rate 9%
$631,489
$631.5K
Market Conditions
NOI Build-Up for 11,000 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
$89.3K $8.12/SF
− Vacancy
−$8.1K −$0.74/SF
EGI
$81.2K $7.38/SF
− OpEx
−$24.4K −$2.21/SF
NOI
$56.8K $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%
$1,136,680
Cap Rate 7%
$811,914
Cap Rate 9%
$631,489
Alternative Uses
Best Use
Industrial
$811.9K
$710.4K – $947.2K
NOI $56,834 @ 7.0% cap · market cap 4.21%
Second Best
Flex RnD
$769.5K
$673.3K – $897.7K
NOI $53,864 @ 7.0% cap · market cap 3.99%
Theoretical Best
Multifamily LT 5
$131.85M
$115.37M – $153.83M
NOI $9,229,721 @ 7.0% cap · market cap 683.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76033, TX
27,243
Population
10,962
Households
2.5
Avg Household Size
39
Median Age
21%
College-Educated
88%
High-School Grad
176.1 sq mi
ZIP Area
155
Density / Sq Mi
$69,870
Median Household Income
$40,168
Median Earnings
$1,287
Median Rent
$230,600
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.
Similar Off Market Nearby
- Lone Star Taqueria — 2016 N Main St, Cleburne, TX 76033
Frequently Asked Questions
What type of property is this?
Flex space - Flex property with a secured outdoor yard, three-phase electrical service, and direct access to established transportation routes.
Where is this flex space located?
The property is located at 2309 N Main St Cleburne, TX.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Approximately 11,000 square feet of flex and industrial‑commercial building area; Fully fenced perimeter yard for secure parking, equipment storage, or operations; Three‑phase electrical service
