Flex Space with Live-Work
For Sale
$790,000
5207 Dogridge Road, Belton, TX 76513
CommercialSale, Belton, TX
Property Size4,000 SF
Lot Size10.00 Acres
Price / SF$197.50
Days on Market101
Property Features for 5207 Dogridge Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Special Needs, RV
Security features
Security
Interior features
Storage
Exterior features
Lighting, Storage
Lot features
Ten To Twenty Acres, Five To Ten Acres, Outside City Limits, Secluded, Sloped
Directions
From I-35 -Take Exit 293B for I-14 / US-190 West toward Killeen / Fort Cavazos. Merge onto I-14 West and drive approximately 4 miles. Take the G. Wilson Rd / FM 93 exit. At the end of the ramp, turn slight left onto G. Wilson Rd. Take the first left onto George Wilson Rd. Take the next left onto Dogridge Rd. Continue on Dogridge Rd for a short distance and property is on the right.
Standard status
Active
APN
399470
Size
4,000 SF
Lot size
10.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
A0433BC W M HEAD, ACRES 10.0
Tax Annual Amount
5912
Legal Description
A0433BC W M HEAD, ACRES 10.0
Utilities
Sewer type
Septic Tank, Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Building Details
Year built
2010
Floors in Building
2
Flooring type
Concrete, Tile
Building materials
MetalFrame, MetalSiding
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Benchmark Real Estate
(254) 800-5000
Listed By:
Damon Gottschalk · License #0656896
(254) 493-2623
Added: May 14
Changed: Aug 20
Last Checked: Aug 22 at 11:06AM
MLS# 613685
Copyright © 2026 Central Texas Multiple Listing Service. 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.
This flex property occupies 4,000 square feet on approximately 10 acres and is arranged for combined commercial and residential use. The building includes a 2,400-square-foot shop or warehouse area with high ceilings and bay doors, an 800-square-foot office and showroom on the lower level, and an 800-square-foot apartment upstairs. Concrete and tile flooring, central electric heating and cooling, storage areas, metal siding, and a metal roof are included. A 1,600-square-foot awning adds covered space, while on-site parking and exterior lighting support daily operations.
The property fronts Dogridge Road with direct access and is located in Belton’s ETJ, where no zoning restrictions are stated. Water service is provided by Dogridge, with Oncor electric and septic infrastructure in place. The site offers access to I-14 and I-35, with I-14 traffic reported at 72,192 VPD. Belton, Temple, Fort Cavazos, and the I-35 corridor are nearby.
The property fronts Dogridge Road with direct access and is located in Belton’s ETJ, where no zoning restrictions are stated. Water service is provided by Dogridge, with Oncor electric and septic infrastructure in place. The site offers access to I-14 and I-35, with I-14 traffic reported at 72,192 VPD. Belton, Temple, Fort Cavazos, and the I-35 corridor are nearby.
Key Highlights
- 4,000‑square‑foot flex building on approximately 10 acres
- 2,400‑square‑foot shop or warehouse with high ceilings and bay doors
- 800‑square‑foot office/showroom downstairs plus 800‑square‑foot apartment upstairs
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
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Metal-frame property combines shop, office, and upstairs living areas.
Where is this flex space located?
The property is located at 5207 Dogridge Road 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 building on approximately 10 acres; 2,400‑square‑foot shop or warehouse with high ceilings and bay doors; 800‑square‑foot office/showroom downstairs plus 800‑square‑foot apartment upstairs
