Two-Building Six-Unit Apartment
For Sale
Contact for pricing
302 W Front St, Corrigan, TX 75939
All residences are currently occupied, and one building includes recent roof, air-conditioning, and interior improvements.
Property Size5,248 SF
Price / SF$91.27
Days on Market178
Property Features for 302 W Front St
General Information
Standard status
Active
Size
5,248 SF
Class
C
Property subtype
Multifamily
Occupancy
100%
Investment Type
Net Lease
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Building Details
Year Built
1975
Buildings
2
Units
6
Listing Agency:
Country World Realty
Listed By:
Pat McCulley · License #tx370334
Source:
Crexi
Added: Apr 20
Changed: Oct 4
Last Checked: Oct 12 at 5:24PM
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 Country World Realty
Investment Insights
Based on property information with market context.
This apartment property comprises two separate buildings with three units in each, creating six residences and 5,248 SF of combined area. Every unit is configured as 2 Br / 1 Ba, and all are currently rented. The buildings were constructed in 1975 and are located at 302 W Front St in Corrigan, Texas.
The W Front Street building has received several recent improvements, including a new roof, 2 new A/Cs, and interior updates. The two-building configuration provides a clearly defined apartment layout, while current occupancy and available lease details support review of the existing tenancy.
The W Front Street building has received several recent improvements, including a new roof, 2 new A/Cs, and interior updates. The two-building configuration provides a clearly defined apartment layout, while current occupancy and available lease details support review of the existing tenancy.
Key Highlights
- Six‑unit apartment property spanning two separate buildings
- 5,248 SF total across the two buildings
- Three units per building, with each unit configured as 2 Br / 1 Ba
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,052
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,040
$701.0K
Cap Rate 7%
$500,743
$500.7K
Cap Rate 9%
$389,467
$389.5K
Market Conditions
NOI Build-Up for 5,248 SF
Gross rent
$72.4K $13.80/SF
− Vacancy
−$8.7K −$1.66/SF
EGI
$63.7K $12.14/SF
− OpEx
−$28.7K −$5.46/SF
NOI
$35.1K $6.68/SF
Area
Polk County, TX
Vacancy
12.00%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,040
Cap Rate 7%
$500,743
Cap Rate 9%
$389,467
Alternative Uses
Best Use
Apartment 5plus
$500.7K
$438.2K – $584.2K
NOI $35,052 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$2.69M
$2.36M – $3.14M
NOI $188,456 @ 7.0% cap · market cap 39.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
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Business Placement
Demographics for 75939, TX
3,716
Population
2,161
Households
1.7
Avg Household Size
44
Median Age
9%
College-Educated
77%
High-School Grad
252.3 sq mi
ZIP Area
15
Density / Sq Mi
$45,767
Median Household Income
$29,060
Median Earnings
$707
Median Rent
$121,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - All residences are currently occupied, and one building includes recent roof, air-conditioning, and interior improvements.
Where is this apartment building located?
The property is located at 302 W Front St Corrigan, TX.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Six‑unit apartment property spanning two separate buildings; 5,248 SF total across the two buildings; Three units per building, with each unit configured as 2 Br / 1 Ba
