Flex Property with Office and
New
For Sale
$1,050,000
4350 Fm 1105, Georgetown, TX 78626
Unrestricted land combines finished office space with a dedicated shop.
Property Size2,368 SF
Lot Size5.00 Acres
Price / SF$443.41
Days on Market2
Property Features for 4350 Fm 1105
General Information
Standard status
Active
Size
2,368 SF
Lot size
5.00 Acres
Additional Details
Highway Access
Yes
Office Build-Out
2,368 SF
Building Details
Year Built
1998
Listing Agency:
Lewis Properties
(512) 948-5306
Listed By:
Peyton Lewis · License #0626208
Source:
Cityviewtx
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 1:16PM
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 Lewis Properties
Investment Insights
Based on property information with market context.
This flex property at 4350 FM 1105 occupies 5 acres and includes a finished 2,368 SF office building alongside a 3,200 SF shop. Both improvements were built in 1998, creating a combination of administrative and work areas on one site. The property is described as unrestricted land with no zoning.
The Georgetown address provides access minutes from I35, the proposed Ronald Reagan extension, and East Wilco Hwy. An additional 6.59 acres adjacent to the property is also available under a separate listing. The site configuration accommodates equipment parking, material staging, and potential expansion of outbuildings or additions, as described in the property information.
The Georgetown address provides access minutes from I35, the proposed Ronald Reagan extension, and East Wilco Hwy. An additional 6.59 acres adjacent to the property is also available under a separate listing. The site configuration accommodates equipment parking, material staging, and potential expansion of outbuildings or additions, as described in the property information.
Key Highlights
- 5‑acre flex property with no zoning and unrestricted land
- Finished 2,368 SF office building
- 3,200 SF shop included
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
$56,466
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
5.38%
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%
$1,129,320
$1.1M
Cap Rate 7%
$806,657
$806.7K
Cap Rate 9%
$627,400
$627.4K
Market Conditions
NOI Build-Up for 2,368 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
$99.5K $42.00/SF
− Vacancy
−$24.2K −$10.21/SF
EGI
$75.3K $31.79/SF
− OpEx
−$18.8K −$7.95/SF
NOI
$56.5K $23.85/SF
Area
Williamson County, TX
Vacancy
24.30%
Lease Rate
$42.00 /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%
$1,129,320
Cap Rate 7%
$806,657
Cap Rate 9%
$627,400
Alternative Uses
Best Use
Office B
$806.7K
$705.8K – $941.1K
NOI $56,466 @ 7.0% cap · market cap 5.38%
Second Best
Warehouse
$340.6K
$298.0K – $397.4K
NOI $23,841 @ 7.0% cap · market cap 2.27%
Theoretical Best
Office A
$989.9K
$866.2K – $1.15M
NOI $69,292 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78626, TX
39,935
Population
16,866
Households
2.4
Avg Household Size
34
Median Age
36%
College-Educated
90%
High-School Grad
88.6 sq mi
ZIP Area
451
Density / Sq Mi
$94,967
Median Household Income
$44,955
Median Earnings
$1,752
Median Rent
$358,500
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 - Unrestricted land combines finished office space with a dedicated shop.
Where is this flex space located?
The property is located at 4350 Fm 1105 Georgetown, TX.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 5‑acre flex property with no zoning and unrestricted land; Finished 2,368 SF office building; 3,200 SF shop included
