Flex and Warehouse
659 Martin Duke Road, Van Alstyne, TX 75495
COMMERCIAL - Van Alstyne, TX
Property size:
11,025 SFLot size:
5.72 AcresPrice / SF:
$326/SF- Added:
- Apr 29, 2026
- Days on Market:
- 47
- Last Refresh:
- Jun 14 at 5:06 am
Property Features for 659 Martin Duke Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- Oversize
- Standard status
- Active
- APN
- 435667
- Lot size
- 5.72 Acres
Taxes and HOA fees
- Tax Description
- JACKSON COLEMAN INDUSTRIAL SUBD REPLAT LT 2R
- Tax Annual Amount
- 36394
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric, Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 2004
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Concrete, Vinyl
- Building materials
- MetalSiding
- Roof type
- Metal
Listing agent Sara Jerome License #0630971 (903) 870-8528
Listing office Vincent Realty Group Tom Bean, TX (903) 870-8528
Listing date Apr 29, 2026
MLS# 21008194
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Two‑building industrial property totaling 11,025 SF on 5.717 acres
- Main building is 9,625 SF with 7 bays and roll‑up doors plus ~2,800 SF central HVAC offices
- Second building is a 1,400 SF warehouse used for overstock and storage (buyer to verify use/permissions)
- Public water and public sewer; metal roof; metal siding construction
- Central air plus electric heating, with central HVAC offices and ceiling fans
- Oversize parking; available Jan 15, 2026
Overview
A two-building flex and warehouse property offering a main facility with central HVAC offices and a dedicated shop/managers area, plus an additional warehouse building. The main building includes approximately 7 bays with roll-up doors and 4 bathrooms, two in the office area and two in the shop. The second building has been used for overstock and storage only. With a total of 5.717 acres, the site provides flexibility for operators seeking warehouse capacity alongside office support, and the current setup is also described as divisible for a smaller shop and acreage.
Located in Grayson County in North Texas, the property is positioned for convenient access to major business hubs, with reported drive times of approximately 15 minutes to Sherman’s new IT corridor and about 20 minutes to the north side of the DFW metroplex. The facility is available starting January 15, 2026.
This offering may fit businesses that need both warehouse operations and functional office space on-site, including distribution, light industrial, storage-focused operations, or companies planning to grow on an expandable yard footprint. Owners are also open to considering a lease of the larger shop and approximately 2 acres on a multi-year triple-net structure, and may consider leasing the entire property as well.
Located in Grayson County in North Texas, the property is positioned for convenient access to major business hubs, with reported drive times of approximately 15 minutes to Sherman’s new IT corridor and about 20 minutes to the north side of the DFW metroplex. The facility is available starting January 15, 2026.
This offering may fit businesses that need both warehouse operations and functional office space on-site, including distribution, light industrial, storage-focused operations, or companies planning to grow on an expandable yard footprint. Owners are also open to considering a lease of the larger shop and approximately 2 acres on a multi-year triple-net structure, and may consider leasing the entire property as well.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $338.7k | $30.72 |
| − Vacancy | −$92.8k | −$8.42 |
| EGI | $245.9k | $22.30 |
| − OpEx | −$61.5k | −$5.58 |
| NOI | $184.4k | $16.73 |
11,025 SF · lease $30.72/SF/yr · vacancy 27.40% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.63M
$2.31M – $3.07M
NOI $184,416 @ 7.0% cap · market cap 5.12%
Second Best
Warehouse
$996.3K
$871.8K – $1.16M
NOI $69,740 @ 7.0% cap · market cap 1.94%
Theoretical Best
Hotel Hospitality
$5.66M
$4.95M – $6.60M
NOI $395,908 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Cop Stuff
(Bike/Boat/Book/etc) Store
Priority Public Safety
(Bike/Boat/Book/etc) Store
Similar Places Nearby
- Hops and Hitch LLC — 308 Redwood Dr, Van Alstyne, TX 75495
Location Insight
- Map
- Local Demand
- City
- Van Alstyne
- County
- Grayson
- State
- Texas
- Longitude
- -96.566569
- Latitude
- 33.413285
Nearby Similar for Sale
FAQs
What type of property is this?
Flex space - Two-building industrial facility with multiple roll-up bays, office space, and room for expansion on acreage.
Where is this flex space located?
The property is located at 659 Martin Duke Road Van Alstyne, TX.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Two‑building industrial property totaling 11,025 SF on 5.717 acres; Main building is 9,625 SF with 7 bays and roll‑up doors plus ~2,800 SF central HVAC offices; Second building is a 1,400 SF warehouse used for overstock and storage (buyer to verify use/permissions)
