Insulated Flex
For Sale
$187,000
910 Wheelock St Farm To Market Road, Franklin, TX 77856
COMMERCIAL - Franklin, TX
Property Size1,700 SF
Lot Size0.52 Acres
Price / SF$110
Days on Market255
Property Features for 910 Wheelock St Farm To Market Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Robertson
Lot features
Fencing, Yard Area
Elementary school district
Franklin
Middle school district
Franklin
High school district
Franklin
Directions
As you come into Franklin on FM 46, property will be immediately on the right, directly across the street from the County Barn
Standard status
Active
APN
910 Wheelock St 202
Size
1,700 SF
Lot size
0.52 Acres
Amenities
restroom
office
spray foam insulation
Building Details
Flooring type
Concrete
Listing Agency:
Captiva Realty
(979) 324-4363
Listed By:
Steve Cox · License #0527847
(979) 450-1338
Added: Dec 10, 2025
Changed: Aug 4
Last Checked: Aug 22 at 8:06AM
MLS# 25012847
Copyright © 2026 Bryan-College Station Regional MLS. 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 1,700-square-foot flex building is wood framed, clad in metal, and built on a concrete slab. Spray foam insulation extends throughout the structure, while the interior includes concrete flooring, a restroom, and a compact office area. Previous uses included auto repair and woodworking, providing established commercial utility for a range of business operations.
The property includes 150 feet of frontage along FM 46 and extends 135 feet deep. Municipal water and sewer service are available through the City of Franklin. The site is within Franklin ISD and carries Robertson zoning.
The property includes 150 feet of frontage along FM 46 and extends 135 feet deep. Municipal water and sewer service are available through the City of Franklin. The site is within Franklin ISD and carries Robertson zoning.
Key Highlights
- 1,700 SF flex building on a concrete slab
- 150 feet of frontage on FM 46
- Lot extends 135 feet deep
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
$15,415
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
8.24%
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%
$308,300
$308.3K
Cap Rate 7%
$220,214
$220.2K
Cap Rate 9%
$171,278
$171.3K
Market Conditions
NOI Build-Up for 1,700 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
$25.5K $15.00/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$23.7K $13.95/SF
− OpEx
−$8.3K −$4.88/SF
NOI
$15.4K $9.07/SF
Area
Robertson County, TX
Vacancy
7.00%
Lease Rate
$15.00 /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%
$308,300
Cap Rate 7%
$220,214
Cap Rate 9%
$171,278
Alternative Uses
Best Use
Retail
$262.8K
$229.9K – $306.6K
NOI $18,393 @ 7.0% cap · market cap 9.84%
Second Best
Flex RnD
$220.2K
$192.7K – $256.9K
NOI $15,415 @ 7.0% cap · market cap 8.24%
Theoretical Best
Office A
$418.6K
$366.3K – $488.4K
NOI $29,303 @ 7.0% cap · market cap 15.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77856, TX
5,170
Population
2,642
Households
2
Avg Household Size
44
Median Age
23%
College-Educated
89%
High-School Grad
372.7 sq mi
ZIP Area
14
Density / Sq Mi
$90,889
Median Household Income
$47,207
Median Earnings
$919
Median Rent
$245,900
Median Home Value
Market
Vacancy Rate% for Industrial 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 - Concrete-floor commercial space with a restroom, former office area, and municipal water and sewer service.
Where is this flex space located?
The property is located at 910 Wheelock St Farm To Market Road Franklin, TX.
What is the asking price?
The asking price for this property is $187,000.
What are key features of this property?
This property features: 1,700 SF flex building on a concrete slab; 150 feet of frontage on FM 46; Lot extends 135 feet deep
