Multi-Tenant Retail
For Sale
Contact for pricing
713 W Henderson St, Cleburne, TX 76033
Newly remodeled, 100% occupied multi-tenant retail center anchored by national and local operators.
Property Size14,536 SF
Price / SF$517.47
Days on Market106
Property Features for 713 W Henderson St
General Information
Standard status
Active
Size
14,536 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$507,717
Building Details
Year Built
1982
Year Renovated
2026
Units
7
Tenancy
Multi
Listing Agency:
DUWEST
(469) 601-0311
Listed By:
Will Walters · License #TX 596941
Source:
Crexi
Added: Apr 29
Changed: Aug 8
Last Checked: Aug 11 at 9:25AM
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 DUWEST
Investment Insights
Based on property information with market context.
DuWest Realty Investment Services presents the opportunity to acquire a newly remodeled, 100% occupied multi-tenant retail center totaling 14,536 square feet. The tenant mix includes Chipotle, Jersey Mike’s, Nothing Bundt Cakes, America’s Best, Metro by T-Mobile, Fred Loya Insurance, and Glow Nail Bar.
The property is positioned along Henderson Street in Cleburne, Texas, the primary commercial corridor for this DFW submarket. The center is directly across from H-E-B and is also in close proximity to Walmart Supercenter, supporting high-frequency consumer traffic to the corridor.
The offering provides a stabilized income stream with a weighted average lease term (WALT) of 10.4 years. Contractual rent growth is in place for all tenants, with 5 of 7 tenants featuring annual increases, and the average rent is reported at $29.17 per square foot (excluding Chipotle).
The property is positioned along Henderson Street in Cleburne, Texas, the primary commercial corridor for this DFW submarket. The center is directly across from H-E-B and is also in close proximity to Walmart Supercenter, supporting high-frequency consumer traffic to the corridor.
The offering provides a stabilized income stream with a weighted average lease term (WALT) of 10.4 years. Contractual rent growth is in place for all tenants, with 5 of 7 tenants featuring annual increases, and the average rent is reported at $29.17 per square foot (excluding Chipotle).
Key Highlights
- 14,536 SF, multi‑tenant retail center in Cleburne, TX on Henderson Street.
- 100% occupied with a tenant mix including Chipotle, Jersey Mike's, Nothing Bundt Cakes, America's Best, Metro by T‑Mobile, Fred Loya Insurance, and Glow Nail Bar.
- Newly remodeled property with an average rent of $29.17 PSF (excluding Chipotle).
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
$241,274
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
3.21%
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%
$4,825,480
$4.8M
Cap Rate 7%
$3,446,771
$3.4M
Cap Rate 9%
$2,680,822
$2.7M
Market Conditions
NOI Build-Up for 14,536 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
$362.8K $24.96/SF
− Vacancy
−$18.1K −$1.25/SF
EGI
$344.7K $23.71/SF
− OpEx
−$103.4K −$7.11/SF
NOI
$241.3K $16.60/SF
Area
Johnson County, TX
Vacancy
5.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
30.00%
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%
$4,825,480
Cap Rate 7%
$3,446,771
Cap Rate 9%
$2,680,822
Alternative Uses
Best Use
Retail
$3.45M
$3.02M – $4.02M
NOI $241,274 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$174.24M
$152.46M – $203.28M
NOI $12,196,656 @ 7.0% cap · market cap 162.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,048
Businesses Nearby
206k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Groceries 33%
Shops & Services 13%
Electronics 1%
H-E-B
Groceries
67,964 visits/mo
0.3 miles
Chick-fil-A
Dining
26,362 visits/mo
0.0 miles
H-E-B Fuel
Shops & Services
19,385 visits/mo
0.2 miles
Whataburger
Dining
18,750 visits/mo
0.5 miles
Taco Bell
Dining
16,143 visits/mo
0.1 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Newly remodeled, 100% occupied multi-tenant retail center anchored by national and local operators.
Where is this shopping center located?
The property is located at 713 W Henderson St Cleburne, TX.
What is the asking price?
The asking price for this property is $7,522,000.
What are key features of this property?
This property features: 14,536 SF, multi‑tenant retail center in Cleburne, TX on Henderson Street.; 100% occupied with a tenant mix including Chipotle, Jersey Mike's, Nothing Bundt Cakes, America's Best, Metro by T‑Mobile, Fred Loya Insurance, and Glow Nail Bar.; Newly remodeled property with an average rent of $29.17 PSF (excluding Chipotle).
