Two-Building Warehouse with
659 Martin Duke Road Van Alstyne, TX 75495
For Sale
$3,200,000
COMMERCIAL - Van Alstyne, TX
Property Size11,025 SF
Lot Size5.72 Acres
Price / SF$290.25
Days on Market17
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
Central, Electric (Heating)
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
Vinyl, Concrete
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Vincent Realty Group
(903) 870-8528
Listed By:
Sara Jerome · License #0630971
(903) 870-8528
Added: Jul 13
Changed: Jul 29
Last Checked: Jul 29 at 11:06PM
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.
Investment Insights
Based on property information with market context.
This for-sale industrial property includes two buildings on 5.717 acres, totaling 11,025 sq ft. The main building offers 9,625 sq ft and features approximately 2,800 sq ft of central HVAC offices, a shop manager office, 7 bays with roll-up doors, and four bathrooms with two located in the office area and two in the shop area. A second 1,400 sq ft warehouse is also on site and has been used for overstock and storage only.
The owner indicates the larger shop could be leased along with approximately 2 acres, and that the property may also be considered for division. Availability is noted for Jan 15, 2026.
Buyer should verify all details, including dimensions and any intended split or lease terms, prior to closing.
The owner indicates the larger shop could be leased along with approximately 2 acres, and that the property may also be considered for division. Availability is noted for Jan 15, 2026.
Buyer should verify all details, including dimensions and any intended split or lease terms, prior to closing.
Key Highlights
- 11,025 SF total facilities on 5.717 acres in Grayson County, TX
- Main building offers 9,625 SF with approx. 2,800 SF central HVAC office space
- Second building includes a 1,400 SF warehouse; previously used for overstock and storage
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 5.76%
Second Best
Warehouse
$996.3K
$871.8K – $1.16M
NOI $69,740 @ 7.0% cap · market cap 2.18%
Theoretical Best
Hotel Hospitality
$5.66M
$4.95M – $6.60M
NOI $395,908 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Elite Self Storage #2 — 449 FM3133, Van Alstyne, TX 75495
Frequently Asked Questions
What type of property is this?
Warehouse - Two buildings totaling 11,025 sq ft with office space, roll-up bays, and 5.717 acres for sale.
Where is this warehouse 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 $3,200,000.
What are key features of this property?
This property features: 11,025 SF total facilities on 5.717 acres in Grayson County, TX; Main building offers 9,625 SF with approx. 2,800 SF central HVAC office space; Second building includes a 1,400 SF warehouse; previously used for overstock and storage
