Flex Space with Shop
For Sale
$675,000
4429 W State Highway 31, Corsicana, TX 75110
Metal commercial building with offices, separate living quarters, overhead access, and city water and sewer.
Property Size5,500 SF
Lot Size2.00 Acres
Price / SF$122.73
Days on Market56
Property Features for 4429 W State Highway 31
General Information
Standard status
Active
Size
5,500 SF
Lot size
2.00 Acres
Property subtype
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Amenities
shop and work areas
overhead access
concrete flooring
office space
separate living quarters
city water and sewer
Building Details
Year Built
2004
Buildings
1
Building Size
5,500 SF
Construction
metal
Tenancy
Single
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Katie Miller · License #0711670
(254) 498-0097
Source:
Lonestarluxuryrealty
Added: Aug 15
Changed: Sep 24
Last Checked: Oct 7 at 12:52PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
Located at 4429 W State Highway 31 in Corsicana, this flex property occupies approximately 2 acres and includes a roughly 5,500-square-foot metal building constructed in 2004. The interior provides multiple shop and work areas, overhead access, concrete floors, office space, and separate living quarters. Generous parking and city water and sewer support the existing configuration.
A tenant is currently in place and handles utilities, maintenance, and repairs under the existing arrangement. Direct access to State Highway 31 provides exposure along the corridor, with national retailers and other businesses nearby. Additional land is included with the property, offering flexibility for future use or expansion.
A tenant is currently in place and handles utilities, maintenance, and repairs under the existing arrangement. Direct access to State Highway 31 provides exposure along the corridor, with national retailers and other businesses nearby. Additional land is included with the property, offering flexibility for future use or expansion.
Key Highlights
- Approximately 2 acres
- Roughly 5,500‑square‑foot metal building
- Constructed in 2004
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,317
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$846,340
$846.3K
Cap Rate 7%
$604,529
$604.5K
Cap Rate 9%
$470,189
$470.2K
Market Conditions
NOI Build-Up for 5,500 SF
Gross rent
$55.4K $10.08/SF
− Vacancy
−$5.7K −$1.03/SF
EGI
$49.8K $9.05/SF
− OpEx
−$7.5K −$1.36/SF
NOI
$42.3K $7.69/SF
Area
Navarro County, TX
Vacancy
10.20%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$846,340
Cap Rate 7%
$604,529
Cap Rate 9%
$470,189
Alternative Uses
Best Use
Warehouse
$604.5K
$529.0K – $705.3K
NOI $42,317 @ 7.0% cap · market cap 6.27%
Second Best
Industrial
$503.9K
$441.0K – $587.9K
NOI $35,276 @ 7.0% cap · market cap 5.23%
Theoretical Best
Multifamily LT 5
$60.42M
$52.87M – $70.49M
NOI $4,229,628 @ 7.0% cap · market cap 626.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
117
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75110, TX
30,336
Population
11,980
Households
2.5
Avg Household Size
35
Median Age
17%
College-Educated
77%
High-School Grad
137.5 sq mi
ZIP Area
221
Density / Sq Mi
$53,053
Median Household Income
$29,804
Median Earnings
$1,043
Median Rent
$169,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Metal commercial building with offices, separate living quarters, overhead access, and city water and sewer.
Where is this flex space located?
The property is located at 4429 W State Highway 31 Corsicana, TX.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Approximately 2 acres; Roughly 5,500‑square‑foot metal building; Constructed in 2004
