Flex Office and Warehouse
500 W Kilpatrick Street Cleburne, TX 76033
New
500 W Kilpatrick Street, Cleburne, TX, 76033
$695,000
For Sale
$695,000
Flex property with front office-retail suites, two warehouse buildings, and fenced storage areas.
Property Size6,030 SF
Lot Size1.58 Acres
Price / SF$115.26
Days on Market2
Property Features for 500 W Kilpatrick Street
General Information
- Standard status
- Active
- Size
- 6,030 SF
- Lot size
- 1.58 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 2008
Listing agency
Blue Owl Real Estate
(817) 312-1634
Listed by
Heather Cross · License #630620
(817) 312-1634
Source
Cornerstonehomeandranch
Added: Jul 20 Updated: Jul 21 at 3:08AM Checked: Jul 21 at 3:08AM
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 Blue Owl Real Estate
Investment Insights
Based on property information with market context.
This flex-style property combines office-retail space with warehouse and yard storage. The approximately 1,872 SF front office-retail area is set up as two suites that can operate independently, with dedicated HVAC and hot water heaters. The space includes three bathrooms, three interior storage rooms with utility sinks, and polished stained concrete floors. Ten dedicated parking spaces support customer or employee access.
Behind the office are two warehouse buildings totaling approximately 6,030 SF under roof, including one building with a large roll-up door and additional enclosed space, plus secure fenced storage areas. Heavy-duty iron racks and gated access with barbed wire fencing support contractor, logistics, service, or specialty retail operations that need both showroom and storage.
The property sits on an approximately 1.58-acre site in the RC – Regional Commercial District, where the owner indicates a wide range of retail, service, and business uses are permitted (excluding furniture-mattress retail). Public traffic counts on W Kilpatrick St are listed at approximately 6,800–7,800 vehicles per day, supporting high visibility and access. The site is also described as convenient to Chisholm Trail Parkway, Hwy 67, and I-35, with access to surrounding communities including Burleson, Joshua, Keene, and Godley.
Behind the office are two warehouse buildings totaling approximately 6,030 SF under roof, including one building with a large roll-up door and additional enclosed space, plus secure fenced storage areas. Heavy-duty iron racks and gated access with barbed wire fencing support contractor, logistics, service, or specialty retail operations that need both showroom and storage.
The property sits on an approximately 1.58-acre site in the RC – Regional Commercial District, where the owner indicates a wide range of retail, service, and business uses are permitted (excluding furniture-mattress retail). Public traffic counts on W Kilpatrick St are listed at approximately 6,800–7,800 vehicles per day, supporting high visibility and access. The site is also described as convenient to Chisholm Trail Parkway, Hwy 67, and I-35, with access to surrounding communities including Burleson, Joshua, Keene, and Godley.
Key Highlights
- ±1.58‑acre commercial site on W Kilpatrick St in Cleburne, TX within the RC – Regional Commercial District
- ±6,030 SF under roof with front office‑retail, two warehouse buildings, and secure fenced storage areas
- ±1,872 SF front office‑retail area with two suites, each with its own HVAC and hot water heater, plus three bathrooms
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 | $54.3k | $9.00 |
| − Vacancy | −$4.9k | −$0.82 |
| EGI | $49.3k | $8.18 |
| − OpEx | −$7.4k | −$1.23 |
| NOI | $41.9k | $6.95 |
6,030 SF · lease $9.00/SF/yr · vacancy 9.10% · expense 15.00%
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,864 @ 7.0% cap · market cap 14.51%
Second Best
Retail
$1.43M
$1.25M – $1.67M
NOI $100,088 @ 7.0% cap · market cap 14.40%
Theoretical Best
Multifamily LT 5
$72.28M
$63.24M – $84.33M
NOI $5,059,565 @ 7.0% cap · market cap 727.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Mattress Outlet Cleburne
Furniture & Home Goods
Similar For Sale Nearby
Similar Off Market Nearby
- Lone Star Taqueria — 2016 N Main St, Cleburne, TX 76033
FAQs
What type of property is this?
Flex space - Flex property with front office-retail suites, two warehouse buildings, and fenced storage areas.
Where is this flex space located?
The property is located at 500 W Kilpatrick Street Cleburne, TX.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: ±1.58‑acre commercial site on W Kilpatrick St in Cleburne, TX within the RC – Regional Commercial District; ±6,030 SF under roof with front office‑retail, two warehouse buildings, and secure fenced storage areas; ±1,872 SF front office‑retail area with two suites, each with its own HVAC and hot water heater, plus three bathrooms
