Highway 377 Commercial
For Sale
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23350 US-377 Lot- A, Whitesboro, TX 76273
3-acre commercial property off Highway 377 in Whitesboro, Texas.
Property Size3,000 SF
Lot Size3.00 Acres
Price / SF$216.67
Days on Market1202
Property Features for 23350 US-377 Lot- A
General Information
Standard status
Active
Size
3,000 SF
Lot size
3.00 Acres
Property subtype
Land, Mixed Use
Building Details
Year Built
2001
Listing Agency:
Texas Homes and Land
Listed By:
Coryann Johnson · License #Tx 0450333
(214) 908-5468
Source:
Crexi
Added: May 25, 2023
Changed: Sep 3
Last Checked: Sep 4 at 11:55PM
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 Texas Homes and Land
Investment Insights
Based on property information with market context.
This 3-acre commercial property is located off Highway 377 in Whitesboro, Texas, and features a heavy gravel surface suitable for truck traffic. The property includes two buildings. The first building is 5,000 sq. ft. and contains a small office space and a bathroom. It is equipped with roll-up and slider doors on three sides, making it suitable for fabrication use. The second building is 3,000 sq. ft. and includes three roll-up bays and a 36 ft. x 16 ft. office with central heat and air conditioning. Potential business uses include a manufacturing facility, distribution center, or warehouse.
Key Highlights
- Prime 3‑acre commercial property located directly off Highway 377.
- Includes a 5,000 sq. ft. building suitable for fabrication with roll‑up and slider doors on three sides, plus a small office and bathroom.
- Features a second 3,000 sq. ft. building with three roll‑up bays and a 36 ft. x 16 ft. office with central heat and air.
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
$29,700
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
4.57%
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%
$594,000
$594.0K
Cap Rate 7%
$424,286
$424.3K
Cap Rate 9%
$330,000
$330.0K
Market Conditions
NOI Build-Up for 3,000 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
$54.0K $18.00/SF
− Vacancy
−$6.5K −$2.16/SF
EGI
$47.5K $15.84/SF
− OpEx
−$17.8K −$5.94/SF
NOI
$29.7K $9.90/SF
Area
Grayson County, TX
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$594,000
Cap Rate 7%
$424,286
Cap Rate 9%
$330,000
Alternative Uses
Best Use
Mixed Use
$424.3K
$371.3K – $495.0K
NOI $29,700 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$1.54M
$1.35M – $1.80M
NOI $107,730 @ 7.0% cap · market cap 16.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 76273, TX
9,857
Population
4,182
Households
2.4
Avg Household Size
43
Median Age
20%
College-Educated
92%
High-School Grad
206.9 sq mi
ZIP Area
48
Density / Sq Mi
$80,244
Median Household Income
$41,441
Median Earnings
$1,171
Median Rent
$234,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 3-acre commercial property off Highway 377 in Whitesboro, Texas.
Where is this mixed-use property located?
The property is located at 23350 US-377 Lot- A Whitesboro, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Prime 3‑acre commercial property located directly off Highway 377.; Includes a **5,000 sq. ft. building suitable for fabrication** with roll‑up and slider doors on three sides, plus a small office and bathroom.; Features a second 3,000 sq. ft. building with three roll‑up bays and a 36 ft. x 16 ft. office with central heat and air.
