Flex Facility with Shop
New
For Sale
$525,000
2905 N Business 45, Corsicana, TX 75110
Includes a warehouse-style work area and two private offices.
Property Size3,600 SF
Price / SF$145.83
Days on Market6
Property Features for 2905 N Business 45
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Land
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Outdoor Storage
Yes
Building Details
Year Built
2016
Buildings
1
Building Size
3,600 SF
Listing Agency:
Wesley Armstrong, Midwest Land Group LLC
(817) 783-9497
Listed By:
Christine Beckendorf · License #0720823
(817) 783-9497
Source:
Txluxere
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 28 at 10:18AM
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 Wesley Armstrong, Midwest Land Group LLC
Investment Insights
Based on property information with market context.
This flex property contains a 3,600 SF facility arranged for multiple commercial functions. The improvements include a shop and warehouse component for equipment, inventory, or maintenance activities, along with two separate private offices for administration and meetings.
A substantial gravel yard extends the usable exterior area for parking, vehicle movement, and outdoor storage. The property fronts N Business 45 in Corsicana, providing direct access for customers, staff, commercial vehicles, and equipment. Its combination of enclosed work space, office accommodations, and open yard area supports a range of operational requirements.
A substantial gravel yard extends the usable exterior area for parking, vehicle movement, and outdoor storage. The property fronts N Business 45 in Corsicana, providing direct access for customers, staff, commercial vehicles, and equipment. Its combination of enclosed work space, office accommodations, and open yard area supports a range of operational requirements.
Key Highlights
- 3,600 SF flex facility with shop and warehouse areas
- Two private offices included within the building
- Expansive gravel yard for parking, maneuvering, and exterior storage
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
$27,699
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
5.28%
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%
$553,980
$554.0K
Cap Rate 7%
$395,700
$395.7K
Cap Rate 9%
$307,767
$307.8K
Market Conditions
NOI Build-Up for 3,600 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
$36.3K $10.08/SF
− Vacancy
−$3.7K −$1.03/SF
EGI
$32.6K $9.05/SF
− OpEx
−$4.9K −$1.36/SF
NOI
$27.7K $7.69/SF
Area
Navarro County, TX
Vacancy
10.20%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
15.00%
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%
$553,980
Cap Rate 7%
$395,700
Cap Rate 9%
$307,767
Alternative Uses
Best Use
Office B
$860.2K
$752.7K – $1.00M
NOI $60,217 @ 7.0% cap · market cap 11.47%
Second Best
Warehouse
$395.7K
$346.2K – $461.7K
NOI $27,699 @ 7.0% cap · market cap 5.28%
Theoretical Best
Multifamily LT 5
$39.55M
$34.61M – $46.14M
NOI $2,768,483 @ 7.0% cap · market cap 527.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 75110, TX
30,336
Population
11,980
Households
2.5
Avg Household Size
35
Median Age
17%
College-Educated
77%
High-School Grad
137.5 sq mi
ZIP Area
221
Density / Sq Mi
$53,053
Median Household Income
$29,804
Median Earnings
$1,043
Median Rent
$169,200
Median Home Value
Market
Vacancy Rate% for Office 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 - Includes a warehouse-style work area and two private offices.
Where is this flex space located?
The property is located at 2905 N Business 45 Corsicana, TX.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 3,600 SF flex facility with shop and warehouse areas; Two private offices included within the building; Expansive gravel yard for parking, maneuvering, and exterior storage
