Flex Space with Interstate
For Sale
$4,500,000
3151 S Interstate Highway 45, Corsicana, TX 75109
Versatile commercial facility with showroom, offices, reception area, and expansive shop space.
Property Size6,000 SF
Lot Size19.00 Acres
Price / SF$264.71
Days on Market9
Property Features for 3151 S Interstate Highway 45
General Information
Standard status
Active
Size
6,000 SF
Lot size
19.00 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$7,597
Building Details
Building Size
6,000 SF
Listing Agency:
Keller Williams Lonestar DFW
(817) 795-2500
Listed By:
Laura Smith · License #370885
(817) 795-2500
Source:
Exprealty
Added: Aug 4
Changed: Aug 12
Last Checked: Aug 12 at 5:40AM
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 Keller Williams Lonestar DFW
Investment Insights
Based on property information with market context.
This flex-space property includes a showroom, front reception area, multiple private offices, and substantial shop space within an approximately 6,000-square-foot facility. The improvements can accommodate showroom, office, service, manufacturing, inventory, or retail functions. The property previously operated as a tractor dealership.
Located at 3151 S Interstate Highway 45 in Corsicana, the site offers direct access to Interstate 45 and extends along a highly traveled commercial corridor. The property sits between Dallas and Houston, with proximity to Waco and Tyler. More than 19 acres and over 1,300 feet of Interstate 45 frontage provide room for outdoor storage, inventory, equipment, expansion, or additional development.
Located at 3151 S Interstate Highway 45 in Corsicana, the site offers direct access to Interstate 45 and extends along a highly traveled commercial corridor. The property sits between Dallas and Houston, with proximity to Waco and Tyler. More than 19 acres and over 1,300 feet of Interstate 45 frontage provide room for outdoor storage, inventory, equipment, expansion, or additional development.
Key Highlights
- More than 19 acres of commercial property
- Over 1300 ft of Interstate 45 frontage
- Approximately 6,000‑square‑foot facility
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
$284,360
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
6.32%
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%
$5,687,200
$5.7M
Cap Rate 7%
$4,062,286
$4.1M
Cap Rate 9%
$3,159,556
$3.2M
Market Conditions
NOI Build-Up for 17,000 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
$522.2K $30.72/SF
− Vacancy
−$143.1K −$8.42/SF
EGI
$379.1K $22.30/SF
− OpEx
−$94.8K −$5.58/SF
NOI
$284.4K $16.73/SF
Area
Navarro County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
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%
$5,687,200
Cap Rate 7%
$4,062,286
Cap Rate 9%
$3,159,556
Alternative Uses
Best Use
Office B
$4.06M
$3.55M – $4.74M
NOI $284,360 @ 7.0% cap · market cap 6.32%
Second Best
Retail
$4.03M
$3.53M – $4.70M
NOI $282,173 @ 7.0% cap · market cap 6.27%
Theoretical Best
Multifamily LT 5
$186.76M
$163.42M – $217.89M
NOI $13,073,394 @ 7.0% cap · market cap 290.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75109, TX
4,766
Population
2,210
Households
2.2
Avg Household Size
46
Median Age
20%
College-Educated
86%
High-School Grad
119.8 sq mi
ZIP Area
40
Density / Sq Mi
$85,009
Median Household Income
$38,571
Median Earnings
$1,233
Median Rent
$216,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial facility with showroom, offices, reception area, and expansive shop space.
Where is this flex space located?
The property is located at 3151 S Interstate Highway 45 Corsicana, TX.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: More than 19 acres of commercial property; Over 1300 ft of Interstate 45 frontage; Approximately 6,000‑square‑foot facility
