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Newer Retail Building For Sale

605 Harris St Morgan, TX

605 Harris St, Morgan, TX, 00000

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For Sale

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Retail building with long-term corporate lease in Morgan, Texas.

Property Size9,100 SF

Lot Size1.37 Acres

Price / SF$135.27

AddedJul 21, 2025

Days on Market361

Last RefreshJul 15 at 6:26 pm

Property Features for 605 Harris St

General Information

Standard status: Active
Size: 9,100 SF
Lot size: 1.37 Acres
Property subtype: RETAIL

Listing office Secure Net Lease - Dallas

Listing date Jul 21, 2025

Source Moodyscre

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 Secure Net Lease - Dallas

Investment Insights

Based on property information with market context.

Constructed in 2019, this retail building offers approximately 9,100 square feet of space on a 1.35-acre lot. The property is subject to a corporate absolute NNN lease with approximately 9 years remaining and three 5-year renewal options. Located in Morgan, Texas, it is approximately 50 miles south of the Dallas-Fort Worth Metroplex and 30 miles from Waco, Texas. The property is also located about 7 miles from Lake Whitney, a destination designated as the “Getaway Capital of Texas”. The site benefits from limited competition, as this Dollar General is one of only two grocery options in the Morgan area. The tenant, Dollar General, is a Fortune 500 company and one of the largest discount retailers in the U.S., with over 20,400 locations nationwide. Morgan is located within the Dallas-Fort Worth Metroplex, which has a MSA population of 8.3 million.

Key Highlights

Corporate Absolute NNN Lease with 9 Years Remaining and (3) 5‑Year Options to Renew
Fortune 500 Company (Dollar General) with 20,400+ Locations Nationwide
Limited Competition – One of Only Two Grocery Options in the Morgan Area

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$169.3k	$18.60
− Vacancy	−$17.8k	−$1.95
EGI	$151.5k	$16.65
− OpEx	−$45.4k	−$4.99
NOI	$106.0k	$11.65

9,100 SF · lease $18.60/SF/yr · vacancy 10.50% · expense 30.00%

Alternative Uses

Best Use

Specialty Retail

$1.75M

$1.53M – $2.04M (±1% cap)

NOI $122,297 @ 7.0% cap · market cap 9.93%

Second Best

Retail

$1.51M

$1.33M – $1.77M (±1% cap)

NOI $106,041 @ 7.0% cap · market cap 8.61%

Theoretical Best

Office A

$2.40M

$2.10M – $2.80M (±1% cap)

NOI $168,059 @ 7.0% cap · market cap 13.65%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Grocery and convenience stores

Suggested Use

What type of property is this?

Grocery and convenience store - Retail building with long-term corporate lease in Morgan, Texas.

Where is this grocery and convenience store located?

The property is located at 605 Harris St Morgan, TX.

What is the asking price?

The asking price for this property is $1,231,000.

What are key features of this property?

This property features: Corporate Absolute NNN Lease with 9 Years Remaining and (3) 5‑Year Options to Renew; Fortune 500 Company (Dollar General) with 20,400+ Locations Nationwide; Limited Competition – One of Only Two Grocery Options in the Morgan Area