Warehouse with Multiple Loading
398 Meeks Bend Millsap, TX 76066
New
398 Meeks Bend, Millsap, TX, 76066
$2,898,000
For Sale
$2,898,000
Tenanted warehouse on 10 acres with office area, 3-phase power, and multiple loading docks.
Property Size27,725 SF
Lot Size10.00 Acres
Price / SF$104.53
Days on Market3
Property Features for 398 Meeks Bend
General Information
- Standard status
- Active
- Size
- 27,725 SF
- Lot size
- 10.00 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 9999
Listing agency
Kirkpatrick Realty
(817) 374-9721
Listed by
Krayton Kirkpatrick · License #0621854
(817) 374-9721
Source
Cornerstonehomeandranch
Added: Jul 20 Updated: Jul 21 at 8:20PM Checked: Jul 21 at 8:20PM
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 Kirkpatrick Realty
Investment Insights
Based on property information with market context.
The property includes a 27,725-square-foot warehouse building with an office area, 3-phase electricity, and multiple loading docks. It is offered with a tenant in place, with current occupancy utilizing the building and 3 acres of the 10-acre site.
Located at 398 Meeks Bend in Millsap, Texas, the site is described as secluded and is positioned within close proximity to the Brazos River, with easy access via Interstate 20.
A 3-year lease is in place through November 2027, with 4% yearly escalation. The offering is also noted as an option to build to suit or purchase vacant land, with an indicated 8% cap rate.
Located at 398 Meeks Bend in Millsap, Texas, the site is described as secluded and is positioned within close proximity to the Brazos River, with easy access via Interstate 20.
A 3-year lease is in place through November 2027, with 4% yearly escalation. The offering is also noted as an option to build to suit or purchase vacant land, with an indicated 8% cap rate.
Key Highlights
- 27,725 SF warehouse on 10 acres with tenant in place
- 3‑year lease in place through November 2027 with 4% annual escalation
- Current lease rate is $16,172 per month
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $249.5k | $9.00 |
| − Vacancy | −$22.7k | −$0.82 |
| EGI | $226.8k | $8.18 |
| − OpEx | −$34.0k | −$1.23 |
| NOI | $192.8k | $6.95 |
27,725 SF · lease $9.00/SF/yr · vacancy 9.10% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$2.75M
$2.41M – $3.21M
NOI $192,795 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$27.55M
$24.11M – $32.14M
NOI $1,928,448 @ 7.0% cap · market cap 66.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Warehouse - Tenanted warehouse on 10 acres with office area, 3-phase power, and multiple loading docks.
Where is this warehouse located?
The property is located at 398 Meeks Bend Millsap, TX.
What is the asking price?
The asking price for this property is $2,898,000.
What are key features of this property?
This property features: 27,725 SF warehouse on 10 acres with tenant in place; 3‑year lease in place through November 2027 with 4% annual escalation; Current lease rate is $16,172 per month
