Flex Space with Roll-Up
For Sale
Under Contract
$450,000
731 Ferguson Drive, Corsicana, TX 75110
CommercialSale, Corsicana, TX
Property Size6,000 SF
Lot Size11.31 Acres
Price / SF$75
Days on Market60
Property Features for 731 Ferguson Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Subdivision
Corsicana
Directions
From I-45, go west on Hwy 287, turn right onto Ferguson (across from Elliots Hardware). Cross the RR tracks, building on the right hand side.
Standard status
Active Under Contract
APN
61044
Lot size
11.31 Acres
Taxes and HOA fees
Tax Description
C0000 CORSICANA BLK 1302 (REPLAT OF 1301 - 13
Tax Annual Amount
7589
Legal Description
C0000 CORSICANA BLK 1302 (REPLAT OF 1301 - 13
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
2002
Floors in Building
1
Number of units
1
Flooring type
Concrete, Tile
Building materials
MetalSiding, Concrete
Roof type
Metal
Listing Agency:
Premier Realty
(903) 205-1717
Listed By:
Stormy Hornik · License #0770931
(903) 467-9654
Added: Jul 11
Changed: Sep 5
Last Checked: Sep 8 at 4:06AM
MLS# 21213169
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.
Built in 2002, this flex property combines dedicated office space with approximately 4,000 square feet of shop area. Seven roll-up doors support loading, unloading, and access across the working areas. The improvements include metal siding, concrete construction, a metal roof, concrete and tile flooring, central heating, central air, and ceiling fans.
The property encompasses 11.306 acres in a small industrial area near Interstate 45 and U.S. Highway 287. High chain-link fencing encloses the site, with room for equipment storage, parking, expansion, or additional improvements. Public water and public sewer serve the property, providing infrastructure for industrial, logistics, and service-oriented operations.
The property encompasses 11.306 acres in a small industrial area near Interstate 45 and U.S. Highway 287. High chain-link fencing encloses the site, with room for equipment storage, parking, expansion, or additional improvements. Public water and public sewer serve the property, providing infrastructure for industrial, logistics, and service-oriented operations.
Key Highlights
- 11.306‑acre flex property near Interstate 45 and U.S. Highway 287
- Approximately 4,000 square feet of functional shop space
- Seven roll‑up doors for loading, unloading, and interior access
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
$38,483
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
8.55%
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%
$769,660
$769.7K
Cap Rate 7%
$549,757
$549.8K
Cap Rate 9%
$427,589
$427.6K
Market Conditions
NOI Build-Up for 6,000 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
$60.5K $10.08/SF
− Vacancy
−$5.5K −$0.92/SF
EGI
$55.0K $9.16/SF
− OpEx
−$16.5K −$2.75/SF
NOI
$38.5K $6.41/SF
Area
Navarro County, TX
Vacancy
9.10%
Lease Rate
$10.08 /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%
$769,660
Cap Rate 7%
$549,757
Cap Rate 9%
$427,589
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.67M
NOI $100,362 @ 7.0% cap · market cap 22.30%
Second Best
Warehouse
$659.5K
$577.1K – $769.4K
NOI $46,164 @ 7.0% cap · market cap 10.26%
Theoretical Best
Multifamily LT 5
$65.92M
$57.68M – $76.90M
NOI $4,614,139 @ 7.0% cap · market cap 1,025.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75110, TX
30,336
Population
11,980
Households
2.5
Avg Household Size
35
Median Age
17%
College-Educated
77%
High-School Grad
137.5 sq mi
ZIP Area
221
Density / Sq Mi
$53,053
Median Household Income
$29,804
Median Earnings
$1,043
Median Rent
$169,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Versatile facility combines dedicated offices with functional shop space and secured outdoor areas.
Where is this flex space located?
The property is located at 731 Ferguson Drive Corsicana, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 11.306‑acre flex property near Interstate 45 and U.S. Highway 287; Approximately 4,000 square feet of functional shop space; Seven roll‑up doors for loading, unloading, and interior access
