Flex Space with Clear-Span
For Sale
$1,200,000
509 Clark Street, Italy, TX 76651
COMMERCIAL - Italy, TX
Property Size16,200 SF
Lot Size1.44 Acres
Price / SF$74.07
Days on Market209
Property Features for 509 Clark Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Assigned
Subdivision
O T Italy-Rev
Lot features
Acreage
Directions
Interstate 35E (I-35E) crosses the north-western corner of Italy, Texas at Exit 386. Use GPS
Standard status
Active
APN
164235
Size
16,200 SF
Lot size
1.44 Acres
Taxes and HOA fees
Tax Description
1-4 512 16 O T ITALY E D HARRISON 1.437 ACRES
Tax Annual Amount
3671
Legal Description
1-4 512 16 O T ITALY E D HARRISON 1.437 ACRES
Utilities
Sewer type
Public Sewer
Cooling system
ENERGY STAR Qualified Equipment
Water source
Public
Building Details
Year built
1995
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
MetalSiding, Concrete
Roof type
Metal
Listing Agency:
Powerstar Realty
(855) 659-3400
Listed By:
Carl Wright · License #0825033
(800) 952-8988
Added: Feb 5
Changed: Aug 4
Last Checked: Sep 2 at 9:06AM
MLS# 21094587
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.
Investment Insights
Based on property information with market context.
Flex space opportunity featuring a 14,000 SF clear-span warehouse plus a 2,200 SF standalone office building. The warehouse is built on 10-ft centers with reinforced sidewalls and concrete flooring. Exterior improvements include recently updated siding, and the property also offers multiple grain bins, an accessory storage building, and several overhead winch systems for specialized operational use.
The property is located at 509 Clark Street in Italy, TX 76651 (Ellis County). It sits on 1.437 acres with public water and public sewer available. The roof is metal, and cooling is provided by ENERGY STAR qualified equipment. Parking is listed as assigned.
Built in 1995, this facility’s combination of clear-span storage, overhead winch systems, and on-site support space can fit industrial, storage, and other specialized operations that benefit from flexible warehouse layout.
The property is located at 509 Clark Street in Italy, TX 76651 (Ellis County). It sits on 1.437 acres with public water and public sewer available. The roof is metal, and cooling is provided by ENERGY STAR qualified equipment. Parking is listed as assigned.
Built in 1995, this facility’s combination of clear-span storage, overhead winch systems, and on-site support space can fit industrial, storage, and other specialized operations that benefit from flexible warehouse layout.
Key Highlights
- 14,000 SF clear‑span warehouse with concrete flooring
- 2,200 SF standalone office building
- 1.437‑acre property with public water and public sewer
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
$83,978
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
7.00%
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%
$1,679,560
$1.7M
Cap Rate 7%
$1,199,686
$1.2M
Cap Rate 9%
$933,089
$933.1K
Market Conditions
NOI Build-Up for 16,200 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
$131.5K $8.12/SF
− Vacancy
−$11.6K −$0.71/SF
EGI
$120.0K $7.41/SF
− OpEx
−$36.0K −$2.22/SF
NOI
$84.0K $5.18/SF
Area
Ellis County, TX
Vacancy
8.80%
Lease Rate
$8.12 /SF/Yr
Expense Ratio
30.00%
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%
$1,679,560
Cap Rate 7%
$1,199,686
Cap Rate 9%
$933,089
Alternative Uses
Best Use
Office B
$3.87M
$3.39M – $4.52M
NOI $270,978 @ 7.0% cap · market cap 22.58%
Second Best
Warehouse
$1.61M
$1.41M – $1.88M
NOI $112,652 @ 7.0% cap · market cap 9.39%
Theoretical Best
Multifamily LT 5
$176.77M
$154.67M – $206.23M
NOI $12,373,809 @ 7.0% cap · market cap 1,031.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76651, TX
3,373
Population
1,539
Households
2.2
Avg Household Size
39
Median Age
21%
College-Educated
90%
High-School Grad
94.9 sq mi
ZIP Area
36
Density / Sq Mi
$69,191
Median Household Income
$41,169
Median Earnings
$1,152
Median Rent
$213,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space featuring a clear-span warehouse and standalone office building suited for industrial, storage, or specialized operations.
Where is this flex space located?
The property is located at 509 Clark Street Italy, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 14,000 SF clear‑span warehouse with concrete flooring; 2,200 SF standalone office building; 1.437‑acre property with public water and public sewer
