Multi-Office Commercial
For Sale
$389,000
603 N Nolan River Road, Cleburne, TX 76033
Flexible office, retail, or medical layout with multiple private offices, kitchen, and ample on-site parking for staff and visitors.
Property Size1,500 SF
Price / SF$259.33
Days on Market59
Property Features for 603 N Nolan River Road
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Office
Additional Details
Office Units
4
Building Details
Year Built
1995
Listing Agency:
NextHome on Main
(214) 957-9395
Listed By:
Ginger Smith · License #0686824
(214) 957-9395
Source:
Xome
Added: Jun 11
Changed: Jul 10
Last Checked: Aug 7 at 12:57AM
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 NextHome on Main
Investment Insights
Based on property information with market context.
This versatile commercial space offers a functional layout suited for office, retail, medical, or service-related use. The interior features four large office spaces, along with a convenient kitchen and break area for staff and clients. Additional storage is available to support everyday operations. The property is offered for sale as a single, easy-to-manage suite with its own on-site parking for convenient access by employees and visitors.
Located at 603 N Nolan River Road in Cleburne, the property is positioned for visibility and straightforward access along a major thoroughfare. The listing notes that the surrounding area includes shopping, dining, and other established businesses, supported by convenient proximity to major routes.
For prospective tenants, buyers, or operators, the combination of multiple private offices, a dedicated break/kitchen area, and substantial storage supports businesses that need both workflow space and space for client-facing meetings. The on-site parking and accessible setting can also simplify day-to-day arrivals for staff and visitors. Showings are by appointment only with 24 hours’ notice, and please do not disturb tenant or employees.
Located at 603 N Nolan River Road in Cleburne, the property is positioned for visibility and straightforward access along a major thoroughfare. The listing notes that the surrounding area includes shopping, dining, and other established businesses, supported by convenient proximity to major routes.
For prospective tenants, buyers, or operators, the combination of multiple private offices, a dedicated break/kitchen area, and substantial storage supports businesses that need both workflow space and space for client-facing meetings. The on-site parking and accessible setting can also simplify day-to-day arrivals for staff and visitors. Showings are by appointment only with 24 hours’ notice, and please do not disturb tenant or employees.
Key Highlights
- 1,500‑SF commercial space with a flexible layout for office, retail, medical, or service‑related use
- Interior includes 4 large private office spaces plus a kitchen/break area and lots of storage
- Ample on‑site parking for staff and visitors
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
$25,091
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
6.45%
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%
$501,820
$501.8K
Cap Rate 7%
$358,443
$358.4K
Cap Rate 9%
$278,789
$278.8K
Market Conditions
NOI Build-Up for 1,500 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
$46.1K $30.72/SF
− Vacancy
−$12.6K −$8.42/SF
EGI
$33.5K $22.30/SF
− OpEx
−$8.4K −$5.58/SF
NOI
$25.1K $16.73/SF
Area
Johnson 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%
$501,820
Cap Rate 7%
$358,443
Cap Rate 9%
$278,789
Alternative Uses
Best Use
Office B
$358.4K
$313.6K – $418.2K
NOI $25,091 @ 7.0% cap · market cap 6.45%
Second Best
Retail
$355.7K
$311.2K – $415.0K
NOI $24,898 @ 7.0% cap · market cap 6.40%
Theoretical Best
Multifamily LT 5
$17.98M
$15.73M – $20.98M
NOI $1,258,598 @ 7.0% cap · market cap 323.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 76033, TX
27,243
Population
10,962
Households
2.5
Avg Household Size
39
Median Age
21%
College-Educated
88%
High-School Grad
176.1 sq mi
ZIP Area
155
Density / Sq Mi
$69,870
Median Household Income
$40,168
Median Earnings
$1,287
Median Rent
$230,600
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?
Office units - Flexible office, retail, or medical layout with multiple private offices, kitchen, and ample on-site parking for staff and visitors.
Where is this office units located?
The property is located at 603 N Nolan River Road Cleburne, TX.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: 1,500‑SF commercial space with a flexible layout for office, retail, medical, or service‑related use; Interior includes 4 large private office spaces plus a kitchen/break area and lots of storage; Ample on‑site parking for staff and visitors
