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    Decatur Retail Opportunity on FM 51 Title is generated by Realmo AI

    1210 S Fm 51, Decatur, TX 76234

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    Claim this Listing
    For Lease
    $6,500/Mo $60 SF/Yr (calc)

    Retail - Decatur, TX

    Type:Retail
    Property size:
    1,292 SF
    Lot size:
    0.44 Acres
    Added:
    Mar 31, 2026
    Days on Market:
    44
    Last Refresh:
    May 13 at 8:06 am

    Property Features for 1210 S Fm 51

    General Information

    Property type
    Other
    Property subtype
    Retail
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    200002426
    Size
    1,292 SF
    Lot size
    0.44 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1998
    Flooring type
    Other, Tile
    Building materials
    Stone, Stone Veneer
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Jared Lucier

    Listing agent Jared Lucier License #0697805

    Listing office Parker Properties Real Estate 103 N State St, Decatur, TX

    Listing date Mar 31, 2026

    MLS# 21093200 Listing URL

    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

    • Prime business location on FM 51 South, a major thoroughfare in Decatur, TX.
    • Close proximity to anchor stores like Wal‑Mart and Tractor Supply.
    • Near numerous restaurants including Wendy's and Sonic.
    • High traffic location feeding back to US Highway 287.
    • Flexible options: building/lot lease or ground lease available.
    • Building constructed in 1998 with stone/stone veneer and metal roof.

    Overview

    Located on FM 51 South in Decatur, Texas, this 1292-square-foot property presents a retail opportunity on a 0.44-acre lot. The site, formerly a Circle S gas station, is positioned on a highly traveled roadway that connects to US Highway 287. While the gas tanks have been removed and the awning is no longer present, the location offers proximity to anchor stores such as Wal-Mart, Tractor Supply, O'Reilly Auto Parts, and Dollar General, as well as restaurants including Wendy's, Sonic, Burger King, and Cicis. Situated in the county seat of Wise, this location is suitable for various business ventures. The owner is open to leasing the building and lot, and is also considering ground lease options.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gas stations

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    Wise
    State
    Texas
    Longitude
    -97.594517
    Latitude
    33.225592

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    FAQs

    What type of property is this?
    Gas station - Former gas station and convenience store available for lease.
    Where is this gas station located?
    The property is located at 1210 S Fm 51 Decatur, TX.
    What is the lease rate?
    The lease rate is $6,500 /Mo.
    What are key features of this property?
    This property features: Prime business location on FM 51 South, a major thoroughfare in Decatur, TX.; Close proximity to anchor stores like Wal‑Mart and Tractor Supply.; Near numerous restaurants including Wendy's and Sonic.
    (940) 627-9040
    We can help!
    Listing Contact
    Jared Lucier
    Real Estate License ID: 0697805
    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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