Mixed-Use Property with Vehicle
New
For Sale
$3,000,000
5989 N FM 51 Highway N, Weatherford, TX 76085
CommercialSale, Weatherford, TX
Property Size20,000 SF
Lot Size4.25 Acres
Price / SF$150
Days on Market3
Property Features for 5989 N FM 51 Highway N
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
Commercial
Parking features
Oversize, Open, Covered, Garage, Carport
Security features
Security
Accessibility
Accessible Approach with Ramp
Subdivision
J.S. Amos
Lot features
Acreage, Level
Directions
10 miles north on FM 51 of Parker County Courthouse in Weatherford on left or 5 miles south on Hwy 51 & 199 from Sprintown on right to property 5989 and 5999 FM 51 North
Standard status
Active
APN
R000095637
Size
20,000 SF
Lot size
4.25 Acres
Taxes and HOA fees
Tax Description
Abstract 2
Tax Annual Amount
17100
Legal Description
Abstract 2
Utilities
Sewer type
Aerobic Septic
Heating system
Central, Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air, ENERGY STAR Qualified Equipment, Electric
Amenities
climate controlled
office spaces
overhead doors
restrooms
maintenance materials storage
exterior covered carports
concrete parking
hospitality suite
kitchen
dining area
conversation and reception area
full bar area
outdoor dining and dancing area
separate covered band stand
Building Details
Year built
2024
Floors in Building
1
Number of units
4
Flooring type
Concrete
Building materials
AluminumSiding, Block, Concrete
Roof type
Metal
Listing Agency:
Exclusive Real Estate Services
(682) 225-7585
Listed By:
Marilyn Carter · License #0257944
(817) 441-2255
Added: Sep 25
Last Checked: Sep 27 at 12:06PM
MLS# 21079447
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.
At 5989 N FM 51 Highway N in Weatherford, this mixed-use property includes two climate-controlled vehicle buildings measuring 5,000 square feet and 4,000 square feet. Each has office space, overhead doors, restrooms, and dedicated storage for maintenance materials. Covered exterior carports provide additional vehicle display space, alongside concrete parking areas. The listing reports a total property size of 20,000 square feet on 4.25 acres.
A separate freestanding hospitality building contains a kitchen, dining and reception areas, a bar, restrooms, and an outdoor gathering area with a covered bandstand. An additional 2-acre parking area on adjacent property has a graded and paved road and capacity for approximately 300 cars. A brick home on that parcel is rented month to month. The seller may lease back the restaurant and one building on a long-term basis.
A separate freestanding hospitality building contains a kitchen, dining and reception areas, a bar, restrooms, and an outdoor gathering area with a covered bandstand. An additional 2-acre parking area on adjacent property has a graded and paved road and capacity for approximately 300 cars. A brick home on that parcel is rented month to month. The seller may lease back the restaurant and one building on a long-term basis.
Key Highlights
- Two climate‑controlled vehicle buildings: 5,000 sq ft and 4,000 sq ft
- Each vehicle building has offices, overhead doors, restrooms, and maintenance‑material storage
- Separate hospitality building with kitchen, dining, reception, bar, and restrooms
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
$276,000
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
9.20%
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%
$5,520,000
$5.5M
Cap Rate 7%
$3,942,857
$3.9M
Cap Rate 9%
$3,066,667
$3.1M
Market Conditions
NOI Build-Up for 20,000 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
$480.0K $24.00/SF
− Vacancy
−$38.4K −$1.92/SF
EGI
$441.6K $22.08/SF
− OpEx
−$165.6K −$8.28/SF
NOI
$276.0K $13.80/SF
Area
Parker County, TX
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$5,520,000
Cap Rate 7%
$3,942,857
Cap Rate 9%
$3,066,667
Alternative Uses
Best Use
Industrial
$19.87M
$17.39M – $23.19M
NOI $1,391,126 @ 7.0% cap · market cap 46.37%
Second Best
Retail
$4.60M
$4.02M – $5.36M
NOI $321,809 @ 7.0% cap · market cap 10.73%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 76085, TX
12,249
Population
4,027
Households
3
Avg Household Size
41
Median Age
20%
College-Educated
84%
High-School Grad
65.3 sq mi
ZIP Area
188
Density / Sq Mi
$102,014
Median Household Income
$41,911
Median Earnings
$1,699
Median Rent
$357,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two climate-controlled buildings pair vehicle storage and service areas with a separate hospitality facility.
Where is this mixed-use property located?
The property is located at 5989 N FM 51 Highway N Weatherford, TX.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Two climate‑controlled vehicle buildings: 5,000 sq ft and 4,000 sq ft; Each vehicle building has offices, overhead doors, restrooms, and maintenance‑material storage; Separate hospitality building with kitchen, dining, reception, bar, and restrooms
