5-Bay Light Industrial
For Sale
$599,000
309 Fergason Road, Cleburne, TX 76031
Metal-and-steel construction offers flexible warehouse space with office, restroom, ventilation, and substantial outdoor area.
Property Size4,200 SF
Lot Size1.00 Acre
Price / SF$142.62
Days on Market40
Property Features for 309 Fergason Road
General Information
Standard status
Active
Size
4,200 SF
Lot size
1.00 Acre
Property subtype
Commercial
Building Details
Building Size
4,200 SF
Year Built
1996
Stories
1
Units
1
Construction
metal and steel
Listing Agency:
WELCOMBE HOME LLC
(817) 800-0007
Listed By:
Dan Combe · License #0602562
(817) 800-0007
Source:
Fullhouserealtytx
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 25 at 4:33AM
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 WELCOMBE HOME LLC
Investment Insights
Based on property information with market context.
This 4,200 SF light industrial warehouse was built in 1996 and includes an office, restroom, five overhead garage doors, and multiple ventilation fans. The building features solid metal-and-steel construction and a thick concrete slab. Elevated bays are in place and may be adapted for drive-in access, subject to applicable approvals. The facility has been cleared following a recent distribution use and is ready for a new occupant or operating configuration.
The property includes approximately one full acre of land and an updated aerobic septic system. It is located at 309 Fergason Rd, just east of Cleburne, Texas. Any proposed use, permitting, or special-use requirements should be confirmed with the City of Cleburne.
The property includes approximately one full acre of land and an updated aerobic septic system. It is located at 309 Fergason Rd, just east of Cleburne, Texas. Any proposed use, permitting, or special-use requirements should be confirmed with the City of Cleburne.
Key Highlights
- 4,200 SF warehouse with office and restroom
- Five overhead garage doors and elevated bays
- Approximately one full acre of land
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
$29,206
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
4.88%
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%
$584,120
$584.1K
Cap Rate 7%
$417,229
$417.2K
Cap Rate 9%
$324,511
$324.5K
Market Conditions
NOI Build-Up for 4,200 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
$37.8K $9.00/SF
− Vacancy
−$3.4K −$0.82/SF
EGI
$34.4K $8.18/SF
− OpEx
−$5.2K −$1.23/SF
NOI
$29.2K $6.95/SF
Area
Johnson County, TX
Vacancy
9.10%
Lease Rate
$9.00 /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%
$584,120
Cap Rate 7%
$417,229
Cap Rate 9%
$324,511
Alternative Uses
Best Use
Warehouse
$417.2K
$365.1K – $486.8K
NOI $29,206 @ 7.0% cap · market cap 4.88%
Second Best
Industrial
$310.0K
$271.3K – $361.7K
NOI $21,700 @ 7.0% cap · market cap 3.62%
Theoretical Best
Multifamily LT 5
$50.34M
$44.05M – $58.73M
NOI $3,524,075 @ 7.0% cap · market cap 588.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76031, TX
18,398
Population
6,596
Households
2.8
Avg Household Size
38
Median Age
15%
College-Educated
81%
High-School Grad
72.7 sq mi
ZIP Area
253
Density / Sq Mi
$70,672
Median Household Income
$39,335
Median Earnings
$1,274
Median Rent
$203,500
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
- Yellow Jacket State Storage — Cleburne — 1567 E Henderson St, Cleburne, TX 76031
Frequently Asked Questions
What type of property is this?
Warehouse - Metal-and-steel construction offers flexible warehouse space with office, restroom, ventilation, and substantial outdoor area.
Where is this warehouse located?
The property is located at 309 Fergason Road Cleburne, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 4,200 SF warehouse with office and restroom; Five overhead garage doors and elevated bays; Approximately one full acre of land
