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    405 Ridgeway Dr Cleburne, TX 76033

    Sponsored
    For Sale
    $795,000

    10,612 SF Multi-Tenant Warehouse in Cleburne, TX

    Property size:
    10,612 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional investment property, located at 405 N Ridgeway Drive in Cleburne, Texas, presents a compelling opportunity for astute investors. The property encompasses a total of 10,612 square feet of versatile commercial space, strategically situated within Cleburne's thriving business district. The property comprises two buildings: a 6,480-square-foot, two-story structure constructed in 1975, and a 4,132-square-foot, single-story building built in 1990. The older building features six individual spaces, four of which are currently leased, leaving two available for immediate income generation. The newer building offers two spaces, one leased and one vacant. The existing spaces range in size from 2,160 to 2,646 square feet, providing flexibility for various tenants and the potential for modification to create larger or smaller units to suit specific needs. The property is classified as Class B and is offered under a modified lease type. Ample parking is available on-site. The asking price for this multi-tenant warehouse is $795,000. This property is zoned for commercial and industrial use, making it an ideal investment for those seeking a diversified portfolio with strong potential for rental income and future appreciation. The property's location in the heart of Cleburne's business activity ensures high visibility and accessibility for tenants. The combination of existing leases and available spaces provides immediate cash flow and the opportunity for future growth. This is a rare opportunity to acquire a well-located, multi-tenant warehouse in a growing Texas market.

    Property Features for 405 Ridgeway Dr

    General Information

    Property type
    Distribution properties
    Square Feet
    10,612 SF
    Class
    B

    HighLights

    • $795,000 asking price.
    • 10,612 square foot industrial property on 76033 Cleburne, TX.
    • Class B multi‑tenant warehouse with modified lease terms.
    • Two buildings: a 6,480 SF, 2‑story building (1975 construction) and a 4,132 SF, 1‑story building (1990 construction).
    • Ample parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gemini Testing & Resources Paternity Testing Service Sneaky Blinks Eyelash Salon Bavousett's Caring Keepers Home Health Care Service First Allied Securities ... Stock Broker Dr. Malouf Dermatology Dermatologist

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleburne
    County
    Johnson
    State
    Texas
    Longitude
    -97.4119013
    Latitude
    32.3448167

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    FAQs

    What type of property is this?
    Distribution property - 10,612 SF Multi-Tenant Warehouse in Cleburne, TX
    Where is this distribution property located?
    The property is located at 405 Ridgeway Dr Cleburne, TX.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: $795,000 asking price.; 10,612 square foot industrial property on 76033 Cleburne, TX.; Class B multi-tenant warehouse with modified lease terms.
    Request Owner's contact information
    405 Ridgeway Dr 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.

    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
    405 Ridgeway Dr Cleburne, TX 76033
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