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    200 Ridgeway Dr Cleburne, TX 76033

    Sponsored
    For Lease
    $10 SF/Yr ($4,810 /Mo)

    Prime Cleburne office, 2,540 sq ft available.

    Lot size:
    5,540 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional executive office space, located at 200 S. Ridgeway Dr in Cleburne, Texas, offers 2,540 square feet of readily available space within a larger 5,540 square foot building. Situated on a 0.48-acre lot, the property boasts convenient free surface parking, a significant advantage for employees and clients alike. The building, constructed in 1976, has undergone recent renovations, ensuring a modern and functional workspace. This is a turnkey solution, perfect for businesses seeking immediate occupancy. The space is part of a multi-tenant building, offering a collaborative environment. Utilities and janitorial services are included in the full-service lease rate, minimizing operational overhead. The property's location in Cleburne, Johnson County, Texas (zip code 76033) provides easy access to major thoroughfares, enhancing connectivity and accessibility. The property is classified as both retail and office space, reflecting its versatility and potential for diverse business applications. This is an excellent opportunity for businesses seeking a well-maintained, conveniently located, and fully serviced office space in a thriving area. The available space is ideal for a variety of executive office needs.

    Property Features for 200 Ridgeway Dr

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,540 SF
    Total Rate
    4810.57

    Building Details

    Year Built
    1976

    Unit(s) available at that property

    Space
    Suite 200
    Size
    2,540 SF
    Rate per SF
    $10

    We can help!

    Listing Contact
    Randy Jay
    Randy Jay

    Learn more

    Property Insight Report

    HighLights

    • 5,540 SF Total Building Area
    • 2,540 SF Suite Available (Suite 200)
    • 1976 Year Built
    • 0.48‑Acre Lot
    • $10.42/SF NNN Lease Rate
    Property Profile Location Intelligence

    Current Use by Public Records

    First Financial Mortgage Mortgage Lender First Financial Bank Bank

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cleburne
    County
    Johnson
    State
    Texas
    Longitude
    -97.4076778
    Latitude
    32.3386368

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Cleburne office, 2,540 sq ft available.
    Where is this office property / space located?
    The property is located at 200 Ridgeway Dr Cleburne, TX.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: 5,540 SF Total Building Area; 2,540 SF Suite Available (Suite 200); 1976 Year Built
    Request Owner's contact information
    200 Ridgeway Dr Cleburne, TX 76033
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    Cleburne, TX 76033
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    200 Ridgeway Dr Cleburne, TX 76033
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    We can help!
    Listing Contact
    Randy Jay
    Randy Jay
    Real Estate License ID: TX 611516
    Learn more
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