Five-Building Mixed-Use
For Sale
$250,000
102 E Main Street, Gatesville, TX 76528
CommercialSale, Gatesville, TX
Property Size3,217 SF
Lot Size1.93 Acres
Price / SF$77.71
Days on Market299
Property Features for 102 E Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Garage
Subdivision
Original Town
Lot features
One To Three Acres, City Lot
View
River
Directions
From court house, west on Main St/Hwy 84, property is on the left just before the Leon River bridge.
Standard status
Active
APN
114235
Size
3,217 SF
Lot size
1.93 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ORIGINAL TOWN GATESVILLE, BLOCK 87, LOT 7 NW PT & 8 NW PT & 8 SW 1/4 PT & 9, ACRES 1.9261
Tax Annual Amount
1493
Legal Description
ORIGINAL TOWN GATESVILLE, BLOCK 87, LOT 7 NW PT & 8 NW PT & 8 SW 1/4 PT & 9, ACRES 1.9261
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Water front
1
Building Details
Year built
1933
Floors in Building
1
Building materials
Brick, Block, Concrete, WoodSiding
Roof type
Composition, Shingle
Listing Agency:
Front Porch Realty
(254) 865-6991
Listed By:
Kandi Luensmann · License #0625982
(254) 223-8883
Added: Nov 12, 2025
Changed: Aug 20
Last Checked: Sep 7 at 1:06AM
MLS# 597717
Copyright © 2026 Central Texas Multiple Listing Service. 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 mixed-use property comprises five buildings on 1.9261 acres, with 3,217 square feet of total property size. The improvements date to 1933 and feature brick, block, concrete, and wood siding construction. Composition and shingle roofing, window-unit cooling, and a garage are included. Public water and public sewer serve the property.
Located at the west entrance to Gatesville near the Leon River, the property has access from both E Main Street and Leon Street. Commercial and/or residential zoning accommodates a range of potential configurations, including the bed-and-breakfast, restaurant, music venue, office, and retail concepts identified for the site.
Located at the west entrance to Gatesville near the Leon River, the property has access from both E Main Street and Leon Street. Commercial and/or residential zoning accommodates a range of potential configurations, including the bed-and-breakfast, restaurant, music venue, office, and retail concepts identified for the site.
Key Highlights
- Five buildings totaling 3,217 square feet on 1.9261 acres
- Zoned for commercial and/or residential use
- Access from both E Main Street and Leon Street
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
$19,364
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
7.75%
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%
$387,280
$387.3K
Cap Rate 7%
$276,629
$276.6K
Cap Rate 9%
$215,156
$215.2K
Market Conditions
NOI Build-Up for 3,217 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
$46.3K $14.40/SF
− Vacancy
−$5.6K −$1.73/SF
EGI
$40.8K $12.67/SF
− OpEx
−$21.4K −$6.65/SF
NOI
$19.4K $6.02/SF
Area
Coryell County, TX
Vacancy
12.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
52.50%
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%
$387,280
Cap Rate 7%
$276,629
Cap Rate 9%
$215,156
Alternative Uses
Best Use
Mixed Use
$434.3K
$380.0K – $506.7K
NOI $30,401 @ 7.0% cap · market cap 12.16%
Second Best
Hotel Hospitality
$276.6K
$242.1K – $322.7K
NOI $19,364 @ 7.0% cap · market cap 7.75%
Theoretical Best
Office A
$772.7K
$676.1K – $901.5K
NOI $54,089 @ 7.0% cap · market cap 21.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
212
Businesses Nearby
Explore this area
Business Placement
Demographics for 76528, TX
18,773
Population
7,311
Households
2.6
Avg Household Size
40
Median Age
18%
College-Educated
89%
High-School Grad
486.3 sq mi
ZIP Area
39
Density / Sq Mi
$66,989
Median Household Income
$37,705
Median Earnings
$848
Median Rent
$189,900
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial and residential zoning with access from both Main Street and Leon Street.
Where is this mixed-use property located?
The property is located at 102 E Main Street Gatesville, TX.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Five buildings totaling 3,217 square feet on 1.9261 acres; Zoned for commercial and/or residential use; Access from both E Main Street and Leon Street
