Four-Office Commercial
For Sale
$389,000
603 N Nolan River Rd, Cleburne, TX 76033
Flexible layout includes staff amenities, storage, and on-site parking for business operations and visitors.
Property Size1,500 SF
Price / SF$259.33
Days on Market40
Property Features for 603 N Nolan River Rd
General Information
Standard status
Active
Size
1,500 SF
Additional Details
Road Access
Yes
Amenities
kitchen
break area
storage
Building Details
Year Built
1995
Listing Agency:
NextHome on Main
(214) 957-9395
Listed By:
Ginger Smith · License #0686824
Source:
Christenberrygroup
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 28 at 8:44PM
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 1,500-square-foot office unit, built in 1995, is arranged with four large office areas plus a kitchen and break space. Additional storage supports day-to-day operations, while on-site parking serves employees and visitors. The configuration is presented as suitable for office, retail, medical, and service-related uses.
The property is located at 603 N Nolan River Rd in Cleburne, with frontage on North Nolan River Road. The setting is near major thoroughfares, shopping, dining, and established businesses. Showings are available by appointment with 24-hour notice, and the existing tenant and employees should not be disturbed.
The property is located at 603 N Nolan River Rd in Cleburne, with frontage on North Nolan River Road. The setting is near major thoroughfares, shopping, dining, and established businesses. Showings are available by appointment with 24-hour notice, and the existing tenant and employees should not be disturbed.
Key Highlights
- 1,500‑square‑foot commercial space
- Four large office spaces within the interior layout
- Kitchen and break area included
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
—
—
no second resolved use
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
92
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 layout includes staff amenities, storage, and on-site parking for business operations and visitors.
Where is this office units located?
The property is located at 603 N Nolan River Rd 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‑square‑foot commercial space; Four large office spaces within the interior layout; Kitchen and break area included
