Multi-Building Industrial
461 Martin Duke Road, Van Alstyne, TX 75495
For Sale
New
$4,940,000
CommercialSale, Van Alstyne, TX
Property Size47,151 SF
Lot Size4.00 Acres
Price / SF$104.77
Days on Market2
Property Features for 461 Martin Duke Road
General Information
Property type
Property subtype
Zoning description
Subdivision
Lot features
Directions
Standard status
APN
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
Benton-Luttrell Real Estate Co
Listed By:
William Benton · License TX #0254366
(903) 482-8400
Added: Nov 12
Last Checked: Nov 13 at 4:06AM
MLS# 21426531
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.
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Investment Insights
Based on property information with market context.
This industrial property comprises 47,151 square feet across four separate buildings, with office, manufacturing, and warehouse space. Built in 1996, the buildings have metal siding and metal roofs, concrete and wood flooring, natural gas heating, and central air conditioning.
The 4-acre property is located in Van Alstyne, Texas, with access to FM 3133 and Highway 5. Public water serves the site, and wastewater is handled by an aerobic septic system.
The 4-acre property is located in Van Alstyne, Texas, with access to FM 3133 and Highway 5. Public water serves the site, and wastewater is handled by an aerobic septic system.
Key Highlights
- 47,151 square feet of combined office, manufacturing, and warehouse space
- Four separate buildings
- 4‑acre site in Van Alstyne, Texas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$298,260
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,965,200
$6.0M
Cap Rate 7%
$4,260,857
$4.3M
Cap Rate 9%
$3,314,000
$3.3M
Market Conditions
NOI Build-Up for 47,151 SF
Gross rent
$384.8K $8.16/SF
− Vacancy
−$33.9K −$0.72/SF
EGI
$350.9K $7.44/SF
− OpEx
−$52.6K −$1.12/SF
NOI
$298.3K $6.33/SF
Area
Grayson County, TX
Vacancy
8.80%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,965,200
Cap Rate 7%
$4,260,857
Cap Rate 9%
$3,314,000
Alternative Uses
Best Use
Mixed Use
$6.67M
$5.83M – $7.78M
NOI $466,795 @ 7.0% cap · market cap 9.45%
Second Best
Warehouse
$4.26M
$3.73M – $4.97M
NOI $298,260 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$16.59M
$14.51M – $19.35M
NOI $1,161,046 @ 7.0% cap · market cap 23.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Demographics for 75495, TX
9,061
Population
4,082
Households
2.2
Avg Household Size
40
Median Age
39%
College-Educated
94%
High-School Grad
67.7 sq mi
ZIP Area
134
Density / Sq Mi
$105,520
Median Household Income
$49,603
Median Earnings
$1,239
Median Rent
$353,500
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four separate structures provide a mix of office, production, and warehouse areas on a 4-acre site.
Where is this mixed-use property located?
The property is located at 461 Martin Duke Road Van Alstyne, TX.
What is the asking price?
The asking price for this property is $4,940,000.
What are key features of this property?
This property features: 47,151 square feet of combined office, manufacturing, and warehouse space; Four separate buildings; 4‑acre site in Van Alstyne, Texas
