Mixed-Use Facility with
For Sale
$1,600,000
3577 N FM 51, Weatherford, TX 76085
CommercialSale, Weatherford, TX
Property Size6,814 SF
Lot Size5.00 Acres
Price / SF$234.81
Days on Market103
Property Features for 3577 N FM 51
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Outside of City Limits
Subdivision
T & P RR CO
Directions
GPS to 3577 N FM 51 Weatherford TX 76085
Standard status
Active
APN
R000056530
Lot size
5.00 Acres
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Well
Amenities
auditorium
conference rooms
full kitchen
storage areas
monument signage
Building Details
Year built
1999
Floors in Building
1
Number of units
1
Flooring type
Carpet
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
The Michael Group Real Estate
(817) 577-9000
Listed By:
Jolynn Hutchings · License #0689718
(214) 692-6400
Added: May 13
Changed: Aug 21
Last Checked: Aug 23 at 2:06PM
MLS# 21267905
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.
Investment Insights
Based on property information with market context.
Built in 1999, this mixed-use facility combines an auditorium with private offices, classrooms, two conference rooms, a full kitchen, and storage areas. The building features metal siding and roofing, carpeted floors, central heating and central air conditioning. A monument sign supports on-site identification, while the property includes well water and a septic tank system.
The facility is positioned along FM 51, approximately six miles north of I-20, with about 750 feet of frontage. Located outside city limits, the property has no zoning restrictions according to the available information. The site also includes excess land and existing improvements that may accommodate additional buildings, outdoor storage, or an expanded facility, subject to applicable approvals.
The facility is positioned along FM 51, approximately six miles north of I-20, with about 750 feet of frontage. Located outside city limits, the property has no zoning restrictions according to the available information. The site also includes excess land and existing improvements that may accommodate additional buildings, outdoor storage, or an expanded facility, subject to applicable approvals.
Key Highlights
- 6,814 SF facility with a 2,500 SF auditorium
- Approximately 750 feet of frontage along FM 51
- Private offices, classrooms, two conference rooms, kitchen, and 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
$94,033
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
5.88%
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%
$1,880,660
$1.9M
Cap Rate 7%
$1,343,329
$1.3M
Cap Rate 9%
$1,044,811
$1.0M
Market Conditions
NOI Build-Up for 6,814 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
$163.5K $24.00/SF
− Vacancy
−$13.1K −$1.92/SF
EGI
$150.5K $22.08/SF
− OpEx
−$56.4K −$8.28/SF
NOI
$94.0K $13.80/SF
Area
Parker County, TX
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,880,660
Cap Rate 7%
$1,343,329
Cap Rate 9%
$1,044,811
Alternative Uses
Best Use
Mixed Use
$1.34M
$1.18M – $1.57M
NOI $94,033 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$6.77M
$5.92M – $7.90M
NOI $473,957 @ 7.0% cap · market cap 29.62%
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Explore this area
Business Placement
Demographics for 76085, TX
12,249
Population
4,027
Households
3
Avg Household Size
41
Median Age
20%
College-Educated
84%
High-School Grad
65.3 sq mi
ZIP Area
188
Density / Sq Mi
$102,014
Median Household Income
$41,911
Median Earnings
$1,699
Median Rent
$357,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible facility includes offices, classrooms, conference rooms, storage, and a full kitchen.
Where is this mixed-use property located?
The property is located at 3577 N FM 51 Weatherford, TX.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 6,814 SF facility with a 2,500 SF auditorium; Approximately 750 feet of frontage along FM 51; Private offices, classrooms, two conference rooms, kitchen, and storage
