Highway 377 Commercial
For Sale
Contact for pricing
23350 US-377, Whitesboro, TX 76273
3-acre commercial property with two buildings off Highway 377.
Property Size8,000 SF
Lot Size3.00 Acres
Price / SF$150
Days on Market1232
Property Features for 23350 US-377
General Information
Standard status
Active
Size
8,000 SF
Lot size
3.00 Acres
Property subtype
Land, Mixed Use
Zoning
Commercial
Listing Agency:
Texas Homes and Land
(214) 908-5468
Listed By:
Coryann Johnson · License #Tx 0450333
Source:
Crexi
Added: Apr 13, 2023
Changed: Aug 14
Last Checked: Aug 26 at 12:58AM
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 Texas Homes and Land
Investment Insights
Based on property information with market context.
This 3-acre commercial property is located off Highway 377 in Whitesboro, Texas. The site features a heavy gravel surface designed to support truck traffic and includes two buildings suitable for industrial or commercial operations. The main building offers 5,000 square feet of space, including a small office and bathroom, making it suitable for fabrication, manufacturing, or storage. It features roll-up and slider doors on three sides for access. The secondary building provides 3,000 square feet of space with three roll-up bays and a 36-foot by 16-foot office equipped with central heat and air. The property has rural water service and a 1,400 ft well with pump that is not currently in use. The location provides visibility and access from Highway 377, a major North Texas corridor. The property's infrastructure and layout make it suitable for a manufacturing facility, distribution hub, trucking operation, or warehouse space. The site offers room to expand.
Key Highlights
- Prime location directly off Highway 377 in Whitesboro, Texas, offering excellent visibility and access.
- Heavy‑duty gravel surface designed to support truck traffic and heavy equipment.
- 5,000 sq. ft. main building with roll‑up and slider doors on three sides, suitable for various industrial uses.**
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
$41,675
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
3.47%
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%
$833,500
$833.5K
Cap Rate 7%
$595,357
$595.4K
Cap Rate 9%
$463,056
$463.1K
Market Conditions
NOI Build-Up for 8,000 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
$65.3K $8.16/SF
− Vacancy
−$5.7K −$0.72/SF
EGI
$59.5K $7.44/SF
− OpEx
−$17.9K −$2.23/SF
NOI
$41.7K $5.21/SF
Area
Grayson County, TX
Vacancy
8.80%
Lease Rate
$8.16 /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%
$833,500
Cap Rate 7%
$595,357
Cap Rate 9%
$463,056
Alternative Uses
Best Use
Industrial
$595.4K
$520.9K – $694.6K
NOI $41,675 @ 7.0% cap · market cap 3.47%
Second Best
Flex RnD
$546.5K
$478.2K – $637.6K
NOI $38,254 @ 7.0% cap · market cap 3.19%
Theoretical Best
Hotel Hospitality
$4.10M
$3.59M – $4.79M
NOI $287,280 @ 7.0% cap · market cap 23.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76273, TX
9,857
Population
4,182
Households
2.4
Avg Household Size
43
Median Age
20%
College-Educated
92%
High-School Grad
206.9 sq mi
ZIP Area
48
Density / Sq Mi
$80,244
Median Household Income
$41,441
Median Earnings
$1,171
Median Rent
$234,400
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 - 3-acre commercial property with two buildings off Highway 377.
Where is this flex space located?
The property is located at 23350 US-377 Whitesboro, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Prime location directly off Highway 377 in Whitesboro, Texas, offering excellent visibility and access.; Heavy‑duty gravel surface designed to support truck traffic and heavy equipment.; 5,000 sq. ft. main building with roll‑up and slider doors on three sides, suitable for various industrial uses.**
