Flex Space with Covered Work
For Sale
$535,000
513 N Main St, Caldwell, TX 77836
Versatile commercial improvements combine office, warehouse, service, and covered work areas with direct access and perimeter security fencing.
Property Size4,500 SF
Lot Size0.85 Acres
Price / SF$118.89
Days on Market26
Property Features for 513 N Main St
General Information
Standard status
Active
Size
4,500 SF
Lot size
0.85 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Building Details
Building Size
4,500 SF
Year Built
1964
Buildings
1
Listing Agency:
Armstrong Properties
(979) 567-7653
Listed By:
Alexis Jolly
Source:
Buttross
Added: Jul 29
Changed: Aug 23
Last Checked: Aug 23 at 3:46AM
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 Armstrong Properties
Investment Insights
Based on property information with market context.
This flex property at 513 Main ST includes an approximately 3,900-square-foot office, warehouse, and service building, complemented by an attached 600-square-foot covered work area. Two detached equipment sheds add approximately 2,520 square feet of covered storage. Concrete aprons support access and maneuvering, while a 6-foot chain-link fence encloses the site. The property also includes central air and 14 parking spaces.
The approximately 0.854-acre parcel provides about 247 feet of frontage along North Main Street in Caldwell. It sits directly beside O'Reilly Auto Parts and less than 250 feet from the intersection of North Main Street and State Highway 21. The Highway 21 and Highway 36 junction in downtown Caldwell is one intersection away, providing a clearly defined access point for the property.
The approximately 0.854-acre parcel provides about 247 feet of frontage along North Main Street in Caldwell. It sits directly beside O'Reilly Auto Parts and less than 250 feet from the intersection of North Main Street and State Highway 21. The Highway 21 and Highway 36 junction in downtown Caldwell is one intersection away, providing a clearly defined access point for the property.
Key Highlights
- Approximately 0.854‑acre site with about 247 feet of frontage on North Main Street
- Approximately 3,900 SF office, warehouse, and service building
- Attached 600 SF covered work area at the rear
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
$40,804
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
7.63%
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%
$816,080
$816.1K
Cap Rate 7%
$582,914
$582.9K
Cap Rate 9%
$453,378
$453.4K
Market Conditions
NOI Build-Up for 4,500 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
$67.5K $15.00/SF
− Vacancy
−$4.7K −$1.05/SF
EGI
$62.8K $13.95/SF
− OpEx
−$22.0K −$4.88/SF
NOI
$40.8K $9.07/SF
Area
Burleson County, TX
Vacancy
7.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
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%
$816,080
Cap Rate 7%
$582,914
Cap Rate 9%
$453,378
Alternative Uses
Best Use
Office B
$845.4K
$739.8K – $986.4K
NOI $59,181 @ 7.0% cap · market cap 11.06%
Second Best
Flex RnD
$582.9K
$510.1K – $680.1K
NOI $40,804 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$1.11M
$969.6K – $1.29M
NOI $77,566 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77836, TX
11,721
Population
5,990
Households
2
Avg Household Size
45
Median Age
22%
College-Educated
86%
High-School Grad
431.1 sq mi
ZIP Area
27
Density / Sq Mi
$79,567
Median Household Income
$45,291
Median Earnings
$869
Median Rent
$199,000
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 - Versatile commercial improvements combine office, warehouse, service, and covered work areas with direct access and perimeter security fencing.
Where is this flex space located?
The property is located at 513 N Main St Caldwell, TX.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Approximately 0.854‑acre site with about 247 feet of frontage on North Main Street; Approximately 3,900 SF office, warehouse, and service building; Attached 600 SF covered work area at the rear
