Flex Building with Roll-Up
For Sale
Contact for pricing
405 N Johnston Street, Caldwell, TX 77836
Metal construction, concrete flooring, and overhead lighting support a range of commercial operations.
Property Size1,836 SF
Price / SF$149.78
Days on Market17
Property Features for 405 N Johnston Street
General Information
Standard status
Active
Size
1,836 SF
Property subtype
Retail, Special Purpose
Additional Details
Drive-In Doors
2
Building Details
Year Built
2010
Construction
metal building
Listing Agency:
Home & Ranch Real Estate
(979) 272-1759
Listed By:
Melinda K. Scott · License #TX 527396
Source:
Crexi
Added: Jul 23
Changed: Aug 4
Last Checked: Aug 7 at 10:22AM
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 Home & Ranch Real Estate
Investment Insights
Based on property information with market context.
Built in 2010, this 1,836-square-foot flex property is configured for practical commercial use. The metal building includes a concrete floor, high ceilings, exposed beams, and bright overhead lighting. Two large roll-up garage doors provide direct access for vehicles, equipment, and daily operations.
The property is located at 405 N Johnston Street in Caldwell, Texas, offering a functional setting for businesses requiring adaptable interior space and vehicle access.
The property is located at 405 N Johnston Street in Caldwell, Texas, offering a functional setting for businesses requiring adaptable interior space and vehicle access.
Key Highlights
- 1,836‑square‑foot flex property in Caldwell, Texas
- Metal building constructed in 2010
- Two large roll‑up garage doors
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
$16,648
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
6.05%
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%
$332,960
$333.0K
Cap Rate 7%
$237,829
$237.8K
Cap Rate 9%
$184,978
$185.0K
Market Conditions
NOI Build-Up for 1,836 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
$27.5K $15.00/SF
− Vacancy
−$1.9K −$1.05/SF
EGI
$25.6K $13.95/SF
− OpEx
−$9.0K −$4.88/SF
NOI
$16.6K $9.07/SF
Area
Burleson County, TX
Vacancy
7.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
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%
$332,960
Cap Rate 7%
$237,829
Cap Rate 9%
$184,978
Alternative Uses
Best Use
Flex RnD
$237.8K
$208.1K – $277.5K
NOI $16,648 @ 7.0% cap · market cap 6.05%
Second Best
Warehouse
$191.0K
$167.1K – $222.9K
NOI $13,371 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$452.1K
$395.6K – $527.5K
NOI $31,647 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77836, TX
11,721
Population
5,990
Households
2
Avg Household Size
45
Median Age
22%
College-Educated
86%
High-School Grad
431.1 sq mi
ZIP Area
27
Density / Sq Mi
$79,567
Median Household Income
$45,291
Median Earnings
$869
Median Rent
$199,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Metal construction, concrete flooring, and overhead lighting support a range of commercial operations.
Where is this flex space located?
The property is located at 405 N Johnston Street Caldwell, TX.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,836‑square‑foot flex property in Caldwell, Texas; Metal building constructed in 2010; Two large roll‑up garage doors
