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    Stephenville Warehouse with Open Space Title is generated by Realmo AI

    W Washington Street, Stephenville, TX 76401

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    For Lease
    $4,500/Mo $18 SF/Yr (calc)

    COMMERCIAL - Stephenville, TX

    Property size:
    2,900 SF
    Lot size:
    1.00 Acre
    Added:
    Jan 24, 2026
    Days on Market:
    129
    Last Refresh:
    Jun 2 at 9:06 pm

    Property Features for W Washington Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    R000023875
    Size
    2,900 SF
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Description
    A portion of R000023875

    Utilities

    Heating system
    Propane (Heating)

    Building Details

    Year built
    1977
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    MetalSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Joe Humphries

    Listing agent Joe Humphries License #0430457

    Listing office PREFERRED PROPERTIES OF TEXAS Stephenville, TX

    Listing date Jan 24, 2026

    MLS# 21162520

    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.

    HighLights

    • Large, versatile space: 2,900 SF covered/lockable + 1,600 SF covered/open access, totaling 4,500 SF.
    • Flexible customization: Tenant can add office space, storage, and other business‑specific improvements with owner's permission.
    • 24‑hour access: Provides operational flexibility.
    • Utilities available: Ready for immediate use.
    • Dedicated parking area: Convenient for employees and customers.
    • Expansion potential: Additional 2 acres available to lease, with potential to combine with adjacent property (MLS 21160267) for a larger site.

    Overview

    This large warehouse offers open space, allowing tenants, with the owner's permission, to add office space, storage shelves, and other items necessary for their business. It features tall doors, tall ceilings, concrete floors, utilities, and 24-hour access. The covered and lockable space totals 2,900 square feet, with an additional 1,600 square feet covered with open access doors, plus a dedicated parking area. The total ground space for the warehouse and parking is approximately 1.0 acres, with an additional 2 acres available for lease. This warehouse is located in Stephenville, TX. The desired lease is a 5-year NNN lease with annual increases. The tenant will carry liability insurance naming the owner as an additional insured. This building can be combined with the building and acreage to create a large versatile commercial, industrial site with great visibility along Hwy 377. Potential business uses include warehouse and industrial operations.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Similar Places Nearby

    • Cowboy Classic Storage — 5590 US-377, Stephenville, TX 76401

    Map

    City
    Stephenville
    County
    Erath
    State
    Texas
    Longitude
    -98.253311
    Latitude
    32.196303

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    FAQs

    What type of property is this?
    Warehouse - Large warehouse with open space and 24-hour access.
    Where is this warehouse located?
    The property is located at W Washington Street Stephenville, TX.
    What is the lease rate?
    The lease rate is $4,500 /Mo.
    What are key features of this property?
    This property features: Large, versatile space: 2,900 SF covered/lockable + 1,600 SF covered/open access, totaling 4,500 SF.; Flexible customization: Tenant can add office space, storage, and other business‑specific improvements with owner's permission.; 24‑hour access: Provides operational flexibility.
    (254) 965-7775
    We can help!
    Listing Contact
    Joe Humphries
    Real Estate License ID: 0430457
    Learn More
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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.

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