Steel Warehouse with Overhead
For Sale
$110,000
845 Smith St, Malakoff, TX 75148
Commercial Sale, Malakoff, TX
Property Size1,200 SF
Lot Size1.03 Acres
Price / SF$91.67
Days on Market250
Property Features for 845 Smith St
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Henderson
Standard status
Active
APN
0481.0100.0A1D.60
Size
1,200 SF
Lot size
1.03 Acres
Taxes and HOA fees
Tax Description
10 A1D
Legal Description
10 A1D
Building Details
Year built
2021
Listing Agency:
Ebby Halliday Realtors - Cedar Creek Lake
(903) 340-8590
Listed By:
Kathy Martin · License #0472199
(903) 880-7388
Added: Jan 13
Changed: Aug 19
Last Checked: Sep 20 at 5:06AM
MLS# 110159
Copyright © 2026 Henderson County Board of REALTORS®. 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 1200-square-foot warehouse was completed in 2021 and uses steel construction over a concrete slab. The building measures 30x40 and includes 2 overhead doors. It occupies a 1.03-acre site, providing the stated building and land configuration for the property.
The property is located at 845 Smith St in Malakoff, Texas, outside the city limits. Utilities are not currently present at the site.
The property is located at 845 Smith St in Malakoff, Texas, outside the city limits. Utilities are not currently present at the site.
Key Highlights
- 1200 square feet of warehouse space
- 30x40 steel building on a slab
- 2 overhead doors
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
$7,474
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
6.79%
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%
$149,480
$149.5K
Cap Rate 7%
$106,771
$106.8K
Cap Rate 9%
$83,044
$83.0K
Market Conditions
NOI Build-Up for 1,200 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
$9.8K $8.16/SF
− Vacancy
−$999 −$0.83/SF
EGI
$8.8K $7.33/SF
− OpEx
−$1.3K −$1.10/SF
NOI
$7.5K $6.23/SF
Area
Henderson County, TX
Vacancy
10.20%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
15.00%
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%
$149,480
Cap Rate 7%
$106,771
Cap Rate 9%
$83,044
Alternative Uses
Best Use
Warehouse
$106.8K
$93.4K – $124.6K
NOI $7,474 @ 7.0% cap · market cap 6.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$422.1K
$369.4K – $492.5K
NOI $29,549 @ 7.0% cap · market cap 26.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
207
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75148, TX
5,796
Population
3,625
Households
1.6
Avg Household Size
46
Median Age
22%
College-Educated
85%
High-School Grad
88.8 sq mi
ZIP Area
65
Density / Sq Mi
$59,923
Median Household Income
$33,318
Median Earnings
$838
Median Rent
$159,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Malakoff Storage — 209 S Terry St, Malakoff, TX 75148
- Hunnybear Storage — 420 E Royall Blvd, Malakoff, TX 75148
Frequently Asked Questions
What type of property is this?
Warehouse - Built in 2021, the property is outside city limits and currently has no utilities.
Where is this warehouse located?
The property is located at 845 Smith St Malakoff, TX.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: 1200 square feet of warehouse space; 30x40 steel building on a slab; 2 overhead doors
