Industrial Flex Space
New
For Sale
$2,800,000
7240 Fm 1044, Marion, TX 78124
2017 construction with additional acreage along FM 1044 between IH-10 and IH-35.
Property Size12,850 SF
Price / SF$217.90
Days on Market3
Property Features for 7240 Fm 1044
General Information
Standard status
Active
Size
12,850 SF
Property subtype
Industrial
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Building Details
Building Size
12,850 SF
Year Built
2017
Buildings
1
Listing Agency:
Legacy Commercial Real Estate
(830) 214-3489
Listed By:
Cory Elrod · License #0565826
Source:
Legacycommercialre
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 30 at 2:32PM
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 Legacy Commercial Real Estate
Investment Insights
Based on property information with market context.
This flex space property includes a 12,850-square-foot building completed in 2017, along with additional acreage. The combination provides an owner-user with an established building and adjoining land within the same property. The asset is positioned on FM 1044 in Marion, Texas, between IH-10 and IH-35. Its highway-accessible setting places the property along a corridor connecting two interstate routes. The building and surrounding acreage create a straightforward industrial/flex configuration for an owner-user evaluating space for current operations and future property needs.
Key Highlights
- 12,850 SF flex space building
- Constructed in 2017
- Additional acreage included with the building
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
$135,311
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
4.83%
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%
$2,706,220
$2.7M
Cap Rate 7%
$1,933,014
$1.9M
Cap Rate 9%
$1,503,456
$1.5M
Market Conditions
NOI Build-Up for 12,850 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
$231.3K $18.00/SF
− Vacancy
−$23.1K −$1.80/SF
EGI
$208.2K $16.20/SF
− OpEx
−$72.9K −$5.67/SF
NOI
$135.3K $10.53/SF
Area
Guadalupe County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$2,706,220
Cap Rate 7%
$1,933,014
Cap Rate 9%
$1,503,456
Alternative Uses
Best Use
Flex RnD
$1.93M
$1.69M – $2.26M
NOI $135,311 @ 7.0% cap · market cap 4.83%
Second Best
Industrial
$1.10M
$961.3K – $1.28M
NOI $76,907 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$3.37M
$2.95M – $3.93M
NOI $235,926 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78124, TX
6,860
Population
2,674
Households
2.6
Avg Household Size
43
Median Age
22%
College-Educated
85%
High-School Grad
56.9 sq mi
ZIP Area
121
Density / Sq Mi
$82,534
Median Household Income
$44,510
Median Earnings
$1,326
Median Rent
$282,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 2017 construction with additional acreage along FM 1044 between IH-10 and IH-35.
Where is this flex space located?
The property is located at 7240 Fm 1044 Marion, TX.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 12,850 SF flex space building; Constructed in 2017; Additional acreage included with the building
