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    116 Gassaway, Lott, TX 76656

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    For Sale
    $178,500

    COMMERCIAL - Lott, TX

    Lot size:
    0.10 Acres
    Added:
    May 15, 2026
    Days on Market:
    24
    Last Refresh:
    Jun 7 at 1:06 am

    Property Features for 116 Gassaway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    On Street
    Security features
    Security
    Standard status
    Active
    APN
    35356
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Description
    S2060 TOWNSITE OF LOTT BLK 81 LOT 12 .096 ACRES
    Tax Annual Amount
    1669

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Electric, Central Air, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Floors in Building
    1
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    Brick
    Roof type
    Metal

    We can help!

    Listing Contact
    Felicia Galvez-Mauldin

    Listing agent Felicia Galvez-Mauldin License #0778435

    Listing office Compass RE Texas, LLC. Dallas, TX

    Listing date May 15, 2026

    MLS# 21269951

    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

    • Move‑in ready commercial space in historic downtown Lott with an open interior layout and high ceilings
    • Recently updated plumbing and electrical systems
    • Large grade‑level roll‑up doors plus attached storage areas
    • Additional attic storage above the office and concrete floors
    • Metal roof; brick exterior construction
    • Utilities: public water and public sewer; central electric heating and central air

    Overview

    This move-in ready commercial property offers an open interior layout designed for flexible use. The building includes large grade-level roll-up doors, concrete floors, and high ceilings, along with attached storage areas for additional capacity. Above the office, there is extra attic storage, supporting a practical mix of work and inventory or equipment organization. Recent major improvements include updated plumbing and electrical systems, positioning the space for immediate occupancy and operational readiness.

    Located in historic downtown Lott, the property is conveniently positioned approximately 25 minutes from downtown Temple and about 30 minutes from Waco. The offering presents an opportunity for businesses and operators seeking a flexible commercial footprint in a smaller community setting.

    The configuration and storage-friendly features make this property well-suited for a range of tenant types, including small business operations, retail and office space, workshop activities, event use, and inventory or storage needs. While zoning and permitted uses must be independently verified with the City of Lott, the property is believed to have very limited restrictions, which may support broader future adaptation for the right buyer or operator.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lott
    County
    Falls
    State
    Texas
    Longitude
    -97.03546276
    Latitude
    31.2054753

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    FAQs

    What type of property is this?
    Flex space - Move-in ready commercial space with roll-up doors and updated systems, suited for retail, office, storage, or workshop uses.
    Where is this flex space located?
    The property is located at 116 Gassaway Lott, TX.
    What is the asking price?
    The asking price for this property is $178,500.
    What are key features of this property?
    This property features: Move‑in ready commercial space in historic downtown Lott with an open interior layout and high ceilings; Recently updated plumbing and electrical systems; Large grade‑level roll‑up doors plus attached storage areas
    (214) 814-8100
    We can help!
    Listing Contact
    Felicia Galvez-Mauldin
    Real Estate License ID: 0778435
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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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