Office Building with Detached
602 N Gray Street, Caldwell, TX 77836
For Sale
$495,000
CommercialSale, Caldwell, TX
Property Size3,422 SF
Lot Size0.36 Acres
Price / SF$144.65
Days on Market109
Property Features for 602 N Gray Street
General Information
Property type
Property subtype
Appliances
Middle school
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Property Use
Medical Specialty
Taxes and HOA fees
Tax Description
Legal Description
Amenities
specialty work rooms
staff break room/kitchette
work-out space
climate controlled storage
Building Details
Year built
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
Home & Ranch Real Estate
(979) 272-1759
Listed By:
Melinda Scott · License TX #0527396
(979) 574-9228
Added: Jul 28
Changed: Nov 9
Last Checked: Nov 13 at 9:06AM
MLS# 26009590
Copyright © 2026 Bryan-College Station Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The 2,200-square-foot office building dates to 1971 and has laminate and tile flooring. A detached metal building adds more than 1,200 square feet of specialty workrooms, along with a staff break room and kitchenette, bathroom, workout area, and climate-controlled storage. The property has an asphalt parking lot for staff and visitors.
At 602 N Gray Street in Caldwell, the property is just off Hwy 21. The site spans 0.3618 acres.
At 602 N Gray Street in Caldwell, the property is just off Hwy 21. The site spans 0.3618 acres.
Key Highlights
- 2,200‑square‑foot office building, built in 1971
- Detached metal building with more than 1,200 square feet of specialty workrooms
- Separate building includes a break room and kitchenette, bathroom, workout space, and climate‑controlled storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,004
Cap Rate
9.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$900,080
$900.1K
Cap Rate 7%
$642,914
$642.9K
Cap Rate 9%
$500,044
$500.0K
Market Conditions
NOI Build-Up for 3,422 SF
Gross rent
$71.9K $21.00/SF
− Vacancy
−$11.9K −$3.47/SF
EGI
$60.0K $17.54/SF
− OpEx
−$15.0K −$4.38/SF
NOI
$45.0K $13.15/SF
Area
Burleson County, TX
Vacancy
16.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$900,080
Cap Rate 7%
$642,914
Cap Rate 9%
$500,044
Alternative Uses
Best Use
Office B
$642.9K
$562.6K – $750.1K
NOI $45,004 @ 7.0% cap · market cap 9.09%
Second Best
Healthcare Medical
$570.2K
$498.9K – $665.2K
NOI $39,914 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$842.6K
$737.3K – $983.1K
NOI $58,984 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
420
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - A separate metal structure adds specialty rooms, a staff kitchenette, a bathroom, workout space, and climate-controlled storage.
Where is this office building located?
The property is located at 602 N Gray Street Caldwell, TX.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,200‑square‑foot office building, built in 1971; Detached metal building with more than 1,200 square feet of specialty workrooms; Separate building includes a break room and kitchenette, bathroom, workout space, and climate‑controlled storage
