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    Versatile Commercial Property on Highway 377 Title is generated by Realmo AI

    3054 W Washington Street, Stephenville, TX 76401

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    New
    For Lease
    $3,500 /Mo

    Warehouse - Stephenville, TX

    Type:Warehouse
    Lot size:
    1.02 Acres
    Added:
    May 8, 2026
    Days on Market:
    4
    Last Refresh:
    May 11 at 7:06 pm

    Property Features for 3054 W Washington Street

    General Information

    Property type
    Other
    Property subtype
    Warehouse
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    R000054144
    Lot size
    1.02 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1989
    Flooring type
    Concrete
    Building materials
    Metal Siding, Stone
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Case Horton
    Case Horton

    Listing agent Case Horton

    Listing office PREFERRED PROPERTIES OF TEXAS 2441 Senator Robert J. Glasgow Loop, Stephenville, TX

    Listing date May 8, 2026

    MLS# 21201785 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑traffic location on Highway 377 South with strong visibility and ample parking.
    • Versatile property suitable for office, retail, and warehouse use.
    • Includes a 41' x 50' metal warehouse with loading dock and commercial built‑in cooler.
    • Main building features a spacious office/retail area with newer central heat and air.
    • Break room and full bathroom for convenience.
    • Proven successful business location ready for immediate use.

    Overview

    This commercial property is located on high-traffic Highway 377 South in Stephenville. The property offers a combination of office, retail, and warehouse space, making it suited for a variety of business uses. The main rock and metal commercial building features a spacious office and retail area with a newer central heat and air system, along with a break room and full bathroom. Attached to the main building is a 41' x 50' metal warehouse equipped with a loading dock and a commercial built-in cooler, ideal for businesses needing additional storage, distribution space, or cold storage capability. The property is located on a busy commercial corridor with strong visibility and traffic counts. Ample parking is available. The property is serviced by well and septic. The property is located in Stephenville, Erath County, Texas, and has served as a successful business location. The lot size is 1.021 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Baby Clay's Meat ... Take-out & Catering Bar Diamond Llc Bar & Pub

    Suggested Use

    Real Estate Agency Building Supply Dental Office Big Box & Wholesale Store Restaurant Spa & Massage Center Hair Salon Gym & Fitness Center Pharmacy Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Stephenville
    County
    Erath
    State
    Texas
    Longitude
    -98.250856
    Latitude
    32.198313

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    FAQs

    What type of property is this?
    Flex space - Office, retail, and warehouse space on high-traffic Highway 377.
    Where is this flex space located?
    The property is located at 3054 W Washington Street Stephenville, TX.
    What is the lease rate?
    The lease rate is $3,500 /Mo.
    What are key features of this property?
    This property features: High‑traffic location on Highway 377 South with strong visibility and ample parking.; Versatile property suitable for office, retail, and warehouse use.; Includes a **41' x 50' metal warehouse with loading dock and commercial built‑in cooler.**
    (254) 965-7775
    We can help!
    Listing Contact
    Case Horton
    Case Horton
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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