Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1401 Highway 84 Byp Coleman, TX 76834

    Sponsored
    For Sale
    $199,900

    Business - Coleman, TX

    Type:Business
    Property size:
    4,218 SF
    Lot size:
    0.87 Acres
    Days on Market:
    3
    Last Refresh:
    Feb 20 at 4:06 am

    Property Features for 1401 Highway 84 Byp

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Standard status
    Active
    APN
    10162
    Parking features
    Driveway, Open, Parking Lot
    Size
    4,218 SF
    Lot size
    0.87 Acres

    Utilities

    Heating system
    Electric (Heating), Other (Heating)
    Cooling system
    Ceiling Fan(s), Electric, Multi Units, Wall Unit(s)

    Building Details

    Flooring type
    Laminate, Tile
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Sujo McKee
    Sujo McKee

    Sujo McKee Real Estate (432) 413-4209

    Listing agent Sujo McKee (325) 625-5600 License #0634884

    Listing date Feb 18, 2026

    MLS# 21184093 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.

    Learn more

    Property Insight Report

    Overview

    Versatile Commercial Building on Highway 84

    Located just off Highway 84 on the north side of Coleman, Texas, this 4,218± sq ft brick building offers visibility and access in a high-traffic area. The property, situated on a 0.87-acre lot, was formerly a restaurant and has been reconfigured into three apartment-style units. Unit A includes a kitchen, living area, one bedroom, and a full bath. Unit B features three bedrooms, one bath, a kitchen, a dining area, and a living room. Unit C offers an open-concept layout with a combined kitchen-living-dining space, three bedrooms, and one bath. Interior finishes include laminate or tile flooring, high ceilings, ceiling fans, and existing gas fixtures for potential heating installation. Cooling is provided by multi-split and window units. An older central HVAC system is present but not operational. The original commercial kitchen area remains in the southeast corner, though all former restaurant equipment has been removed. The building has a brick exterior, a slab foundation, and a composition roof. Located adjacent to a motel and apartment complex, the property is positioned along the Highway 84 bypass. It is suitable for a restaurant, service business, office conversion, or redevelopment project.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Coleman
    County
    Coleman
    State
    Texas
    Longitude
    -99.424866
    Latitude
    31.843702

    Nearby Similar for Sale

    • New
      $995,000
      0.17 Acres

      Turnkey Restaurant in Downtown Coleman

      Premier dining destination in Coleman, Texas, with upscale Texas charm.
      420 S Commercial Ave, Coleman, TX 76834
      View Details
    • $2,200,000
      127.44 Acres

      Turnkey Ranch with Multiple Homes

      Meticulously improved ranch with multiple homes and scenic views.
      5782 Fm 2131, Coleman, TX 76834
      View Details
    • New
      $199,900
      4,218 SF

      Highway 84 Commercial Property

      4,218 SF commercial property with flexible investment potential.
      1404 Highway 84 N, Coleman, TX 76834
      View Details
    • $200,000
      2,400 SF

      Versatile Property in Coleman, Texas

      2,400 sq ft property suitable for residential or commercial use.
      775 County Road 194, Coleman, TX 76834
      View Details
    • $270,000
      0.14 Acres

      Downtown Coleman Retail Opportunity

      Two-story retail property in downtown Coleman with historical charm.
      217 S Commercial Ave, Coleman, TX 76834
      View Details
    • $159,900
      0.84 Acres

      Coleman, TX Mixed-Use Opportunity

      Commercial property with restaurant, living quarters, and Hords Creek view.
      1302 Highway St, Coleman, TX 76834
      View Details
    • $395,000
      4.25 Acres

      Secluded Lake Coleman Peninsula Retreat

      Private 4.25-acre peninsula with floating cabin on Lake Coleman.
      Coleman, TX 76834
      View Details
    • New
      $60,000
      1,120 SF

      Coleman Warehouse with Highway Access

      Historic warehouse with highway access, ideal for storage or business.
      608 E College St, Coleman, TX 76834
      View Details
    • New
      $129,999
      10,000 SF

      Historic Retail Property in Coleman, TX

      Historic property with retail and workshop spaces near downtown.
      115 E Pecan St, Coleman, TX 76834
      View Details
    • New
      $750,000
      0.39 Acres

      Established Restaurant & Bar For Sale

      Turnkey restaurant and bar with immediate income potential in Coleman.
      601 S Commercial Ave, Coleman, TX 76834
      View Details
    • $450,000
      0.34 Acres

      Downtown Coleman Building with Potential

      7500 sq ft building in thriving downtown Coleman, Texas.
      106 East St, Coleman, TX 76834
      View Details
    • $450,000
      7,500 SF

      Downtown Coleman Commercial Opportunity

      7500 sq ft commercial building in thriving Coleman, Texas.
      106 East St, Coleman, TX 76834
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 4,218 sq ft mixed-use building near Highway 84 in Coleman.
    Where is this mixed-use property located?
    The property is located at 1401 Highway 84 Byp Coleman, TX.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: - High-visibility location off Highway 84 in a high-traffic area; - 4,218± sq ft brick building with flexible layout, currently configured as three apartment-style units; - Potential for live-work setup or income-producing property
    (325) 625-5600
    Request Owner's contact information
    1401 Highway 84 Byp Coleman, TX 76834
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1401 Highway 84 Byp
    Coleman, TX 76834
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    1401 Highway 84 Byp Coleman, TX 76834
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Sujo McKee
    Sujo McKee
    Real Estate License ID: 0634884
    (325) 625-5600 (432) 413-4209
    Learn more
    Google sign-in failed. Please try again or use another login method.