Flex Space with Expansion
For Sale
$2,400,000
930 N Highway 377, Pilot Point, TX 76258
CommercialSale, Pilot Point, TX
Property Size5,846 SF
Lot Size1.13 Acres
Price / SF$410.54
Days on Market30
Property Features for 930 N Highway 377
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-2
Parking features
Parking Lot
Subdivision
P Gass
Lot features
Level
Directions
From Highway 380, travel north on US 377 approximately 12 miles toward Pilot Point, watch for 903 N US 377 on the west side of the highway; turn left into the gravel entry at the existing metal building fronting US 377 to access the primary structure
Standard status
Active
APN
R98052
Size
5,846 SF
Lot size
1.13 Acres
Taxes and HOA fees
Tax Description
A0496A P. GASS, TR 40, 1.126 ACRES
Tax Annual Amount
4669
Legal Description
A0496A P. GASS, TR 40, 1.126 ACRES
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1983
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
MetalSiding, Concrete
Roof type
Metal
Listing Agency:
Keller Williams Realty
(940) 484-9411
Listed By:
Benjamin Clark · License #0611947
(940) 484-9411
Added: Jul 24
Changed: Aug 19
Last Checked: Aug 22 at 6:06AM
MLS# 21325205
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.
This flex-space property includes a 5,846-square-foot insulated metal building arranged with warehouse, showroom, office, storage, and service areas. Concrete flooring, a metal roof, central heating, ceiling fan cooling, a parking lot, public water, and public sewer support the existing improvements. Built in 1983, the building offers a practical mix of work, display, and administrative areas.
The property encompasses 1.126 acres at 930 N Highway 377 in Pilot Point, Denton County, with direct placement along the US Highway 377 corridor. A 4,200-square-foot concrete slab is already in place for an additional commercial improvement. The site also includes room for further site development, including additional buildings, fenced storage, or equipment areas, subject to applicable approvals.
The property encompasses 1.126 acres at 930 N Highway 377 in Pilot Point, Denton County, with direct placement along the US Highway 377 corridor. A 4,200-square-foot concrete slab is already in place for an additional commercial improvement. The site also includes room for further site development, including additional buildings, fenced storage, or equipment areas, subject to applicable approvals.
Key Highlights
- 5,846‑square‑foot insulated metal building built in 1983
- 4,200‑square‑foot concrete slab in place for future expansion
- 1.126‑acre site along US Highway 377 in Pilot Point
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
$97,034
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
4.04%
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%
$1,940,680
$1.9M
Cap Rate 7%
$1,386,200
$1.4M
Cap Rate 9%
$1,078,156
$1.1M
Market Conditions
NOI Build-Up for 5,846 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
$145.9K $24.96/SF
− Vacancy
−$7.3K −$1.25/SF
EGI
$138.6K $23.71/SF
− OpEx
−$41.6K −$7.11/SF
NOI
$97.0K $16.60/SF
Area
Denton County, TX
Vacancy
5.00%
Lease Rate
$24.96 /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%
$1,940,680
Cap Rate 7%
$1,386,200
Cap Rate 9%
$1,078,156
Alternative Uses
Best Use
Retail
$1.39M
$1.21M – $1.62M
NOI $97,034 @ 7.0% cap · market cap 4.04%
Second Best
Warehouse
$520.5K
$455.5K – $607.3K
NOI $36,436 @ 7.0% cap · market cap 1.52%
Theoretical Best
Multifamily LT 5
$81.75M
$71.53M – $95.38M
NOI $5,722,706 @ 7.0% cap · market cap 238.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 76258, TX
7,409
Population
3,079
Households
2.4
Avg Household Size
41
Median Age
30%
College-Educated
82%
High-School Grad
90.3 sq mi
ZIP Area
82
Density / Sq Mi
$93,661
Median Household Income
$51,382
Median Earnings
$1,224
Median Rent
$320,200
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 - Insulated metal improvements combine warehouse, showroom, office, storage, and service areas.
Where is this flex space located?
The property is located at 930 N Highway 377 Pilot Point, TX.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 5,846‑square‑foot insulated metal building built in 1983; 4,200‑square‑foot concrete slab in place for future expansion; 1.126‑acre site along US Highway 377 in Pilot Point
