Mixed-Use Property with
6612 Midway Road, Springtown, TX 76082
For Sale
New
$999,900
The site combines self-storage, a leased cottage, and a vacant warehouse on unincorporated land.
Property Size7,000 SF
Lot Size1.31 Acres
Price / SF$142.84
Days on Market3
Property Features for 6612 Midway Road
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Fenced Yard
Warehouse & Industrial
Warehouse Space
Self-Storage Units
Additional Details
Tenant in Place
Building Details
Building Size
Stories
Units
Listing Agency:
JPAR
(972) 836-9295
Listed By:
Marc Melhado · License TX #0642538
(817) 915-5591
Source:
Exlencerealty
Added: Nov 7
Last Checked: Nov 9 at 9:52AM
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 JPAR
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1.31-acre mixed-use property includes 50 self-storage units, a leased 840-square-foot remodeled cottage, and a vacant 7,000-square-foot warehouse. The cottage may also function as a business office. Warehouse doors measure 14 feet high and open to a 24-foot-wide opening. The property has well and septic service, along with open and covered vehicle parking areas.
Located on Midway Road outside city limits, the property has more than 450 feet of road frontage and is partially secured by fencing. It sits just off Hwy 199 between Azle and Springtown. The site is in unincorporated county territory and is described as unrestricted.
Located on Midway Road outside city limits, the property has more than 450 feet of road frontage and is partially secured by fencing. It sits just off Hwy 199 between Azle and Springtown. The site is in unincorporated county territory and is described as unrestricted.
Key Highlights
- 50 self‑storage units on a 1.31‑acre property
- Vacant 7,000‑square‑foot warehouse with 14‑foot‑high doors and a 24‑foot‑wide opening
- Leased, remodeled 840‑square‑foot cottage that may also serve as an office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,424
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,168,480
$1.2M
Cap Rate 7%
$834,629
$834.6K
Cap Rate 9%
$649,156
$649.2K
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$90.7K $12.96/SF
− Vacancy
−$7.3K −$1.04/SF
EGI
$83.5K $11.92/SF
− OpEx
−$25.0K −$3.58/SF
NOI
$58.4K $8.35/SF
Area
Parker County, TX
Vacancy
8.00%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,168,480
Cap Rate 7%
$834,629
Cap Rate 9%
$649,156
Alternative Uses
Best Use
Mixed Use
$1.52M
$1.33M – $1.77M
NOI $106,313 @ 7.0% cap · market cap 10.63%
Second Best
Self Storage
$834.6K
$730.3K – $973.7K
NOI $58,424 @ 7.0% cap · market cap 5.84%
Theoretical Best
Multifamily LT 5
$1.76M
$1.54M – $2.05M
NOI $123,084 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 76082, TX
21,514
Population
8,576
Households
2.5
Avg Household Size
40
Median Age
16%
College-Educated
87%
High-School Grad
102.8 sq mi
ZIP Area
209
Density / Sq Mi
$93,553
Median Household Income
$49,323
Median Earnings
$1,275
Median Rent
$277,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The site combines self-storage, a leased cottage, and a vacant warehouse on unincorporated land.
Where is this mixed-use property located?
The property is located at 6612 Midway Road Springtown, TX.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: 50 self‑storage units on a 1.31‑acre property; Vacant 7,000‑square‑foot warehouse with 14‑foot‑high doors and a 24‑foot‑wide opening; Leased, remodeled 840‑square‑foot cottage that may also serve as an office
