Flex Space with Warehouse
For Sale
$790,000
5207 Dogridge Rd, Belton, TX 76513
Combined living, office, showroom, and shop areas create a versatile flex-space configuration.
Property Size4,000 SF
Price / SF$197.50
Days on Market109
Property Features for 5207 Dogridge Rd
General Information
Standard status
Active
Size
4,000 SF
Building Details
Year Built
2010
Listing Agency:
Benchmark Real Estate
(254) 493-2623
Listed By:
Damon Gottschalk · License #0656896
Source:
Ashbyregroup
Added: May 14
Changed: Aug 30
Last Checked: Aug 30 at 7:05PM
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 Benchmark Real Estate
Investment Insights
Based on property information with market context.
This 4,000-square-foot flex property, built in 2008, combines several functional areas within one building. The upstairs includes an 800-square-foot apartment or living area, while the ground floor provides an 800-square-foot office and showroom. A separate 2,400-square-foot shop and warehouse area adds substantial operational space, with high ceilings and bay doors suited to warehouse or shop functions.
The property is located at 5207 Dogridge Rd in Belton, Texas. On-site features include parking and covered areas, complementing the building’s mix of office, living, showroom, and industrial space.
The property is located at 5207 Dogridge Rd in Belton, Texas. On-site features include parking and covered areas, complementing the building’s mix of office, living, showroom, and industrial space.
Key Highlights
- 4,000‑square‑foot flex property built in 2008
- 2,400‑square‑foot shop and warehouse area
- 800‑square‑foot upstairs apartment or living area
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
$66,908
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
8.47%
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%
$1,338,160
$1.3M
Cap Rate 7%
$955,829
$955.8K
Cap Rate 9%
$743,422
$743.4K
Market Conditions
NOI Build-Up for 4,000 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
$122.9K $30.72/SF
− Vacancy
−$33.7K −$8.42/SF
EGI
$89.2K $22.30/SF
− OpEx
−$22.3K −$5.58/SF
NOI
$66.9K $16.73/SF
Area
Bell County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
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%
$1,338,160
Cap Rate 7%
$955,829
Cap Rate 9%
$743,422
Alternative Uses
Best Use
Office B
$955.8K
$836.4K – $1.12M
NOI $66,908 @ 7.0% cap · market cap 8.47%
Second Best
Flex RnD
$699.7K
$612.2K – $816.3K
NOI $48,978 @ 7.0% cap · market cap 6.20%
Theoretical Best
Multifamily LT 5
$44.65M
$39.07M – $52.10M
NOI $3,125,808 @ 7.0% cap · market cap 395.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
59
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76513, TX
43,698
Population
16,004
Households
2.7
Avg Household Size
36
Median Age
33%
College-Educated
89%
High-School Grad
108.3 sq mi
ZIP Area
403
Density / Sq Mi
$82,366
Median Household Income
$38,428
Median Earnings
$1,216
Median Rent
$260,200
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 - Combined living, office, showroom, and shop areas create a versatile flex-space configuration.
Where is this flex space located?
The property is located at 5207 Dogridge Rd Belton, TX.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: 4,000‑square‑foot flex property built in 2008; 2,400‑square‑foot shop and warehouse area; 800‑square‑foot upstairs apartment or living area
