Corner Property with Flexible Metal
For Sale
$315,000
601 Franklin St, Liberty, TX 77575
Versatile property with renovated office, workshop, and fenced lots.
Property Size3,200 SF
Price / SF$98.44
Days on Market142
Property Features for 601 Franklin St
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Land
Taxes and HOA fees
Annual Taxes
$2,383
Listing Agency:
BOOM REAL ESTATE
(832) 814-4070
Listed By:
Tatum MacNaughton
(832) 814-4070
Source:
Elliman
Added: Apr 11
Changed: Aug 22
Last Checked: Aug 29 at 11:11AM
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 BOOM REAL ESTATE
Investment Insights
Based on property information with market context.
This versatile corner property spans three lots and features a 40x80 all-metal building designed for efficiency and flexibility. The interior includes a renovated office space measuring 15x9, a break room of 18x7, and a large 9x4 bathroom, all updated in 2021 with new sheetrock, framing, tile, paint, fixtures, and doors. A 400 square foot storage area is located above the office. The office space is climate-controlled with mini-splits. The workshop provides 24-foot clear height, two bay doors for pull-through access, and an open layout without interior columns. Exterior features include two fenced lots and a 30x90 concrete slab. Utilities available are 220V single-phase electricity, city water and sewer, and natural gas. The property is located blocks from Highway 90, with TxDOT estimating traffic counts between 8,000 and 15,000 vehicles per day, offering easy access to the highway. This property presents an opportunity for owner-users or investors seeking space, accessibility, and future potential.
Key Highlights
- Versatile corner property spanning three lots with a 40x80 all‑metal building.
- Workshop with 24’ clear height and two bay doors for pull‑through access.
- Renovated interior office, break room, and bathroom (2021).
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
$16,287
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
5.17%
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%
$325,740
$325.7K
Cap Rate 7%
$232,671
$232.7K
Cap Rate 9%
$180,967
$181.0K
Market Conditions
NOI Build-Up for 3,200 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
$24.8K $7.76/SF
− Vacancy
−$1.6K −$0.49/SF
EGI
$23.3K $7.27/SF
− OpEx
−$7.0K −$2.18/SF
NOI
$16.3K $5.09/SF
Area
Liberty County, TX
Vacancy
6.30%
Lease Rate
$7.76 /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%
$325,740
Cap Rate 7%
$232,671
Cap Rate 9%
$180,967
Alternative Uses
Best Use
Industrial
$232.7K
$203.6K – $271.5K
NOI $16,287 @ 7.0% cap · market cap 5.17%
Second Best
Flex RnD
$218.6K
$191.3K – $255.0K
NOI $15,302 @ 7.0% cap · market cap 4.86%
Theoretical Best
Multifamily LT 5
$35.88M
$31.39M – $41.86M
NOI $2,511,372 @ 7.0% cap · market cap 797.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77575, TX
15,768
Population
7,059
Households
2.2
Avg Household Size
39
Median Age
14%
College-Educated
80%
High-School Grad
238.1 sq mi
ZIP Area
66
Density / Sq Mi
$52,238
Median Household Income
$33,168
Median Earnings
$953
Median Rent
$161,300
Median Home Value
Market
Vacancy Rate% for Industrial 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 - Versatile property with renovated office, workshop, and fenced lots.
Where is this flex space located?
The property is located at 601 Franklin St Liberty, TX.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Versatile corner property spanning three lots with a 40x80 all‑metal building.; Workshop with **24’ clear height** and **two bay doors** for pull‑through access.; Renovated interior office, break room, and bathroom (2021).
