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    1510 Washington St Commerce, TX 75428

    Sponsored
    For Lease
    $7,500 /Mo ($2 SF/Yr)

    Industrial - Commerce, TX

    Type:Industrial
    Property size:
    14,512 SF
    Lot size:
    1.02 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 4 at 2:06 pm

    Property Features for 1510 Washington St

    General Information

    Property type
    Other
    Property subtype
    Industrial
    Standard status
    Active
    APN
    70087
    Size
    14,512 SF
    Lot size
    1.02 Acres

    Utilities

    Heating system
    Electric (Heating), Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1993
    Flooring type
    Concrete
    Building materials
    Concrete, Metal Siding, Steel Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Jedidiah Walker

    Janet Martin Realty (903) 885-1234

    Listing agent Jedidiah Walker (903) 885-1234 License #0665867

    Listing date Feb 3, 2026

    MLS# 21168395 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

    Commerce, TX Industrial Opportunity

    Located in Commerce, Texas, within walking distance of downtown and near East Texas A&M University, this property offers a versatile space suitable for various automotive and retail purposes. Previously a well-established auto mechanic and parts store, the property spans 1.02 acres and is fully paved. It fronts Washington Street, Pecan Street, and Live Oak Street. The building features a high-grade steel frame and steel siding, encompassing 14,512 square feet of insulated shop space, including 1,800 square feet of finished showroom or retail area with a customer bathroom. In addition to the showroom, there is an office, break room, employee restroom, and storage room. The shop area includes six auto lifts (two 12,000lb, three 9,000lb, and one 7,000lb), four gas commercial heaters, integrated compressed air throughout with two commercial IR air compressors, oil storage tanks, and a separate storeroom. The property also features two 12-foot roll-up doors and a rear access loading bay.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hoovers Automotive Auto Repair Shop

    Suggested Use

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

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

    Similar Places Nearby

    K&K Truck Repair, Chevrolet Service, Commerce Chevrolet, Hoovers Automotive, Castillo Tire Shop

    Location Insight

    • Map
    • Local Demand
    City
    Commerce
    County
    Hunt
    State
    Texas
    Longitude
    -95.90008083
    Latitude
    33.24764331

    Nearby Similar for Lease

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    FAQs

    What type of property is this?
    Auto shop - Versatile auto shop/retail space near downtown and university.
    Where is this auto shop located?
    The property is located at 1510 Washington St Commerce, TX.
    What is the lease rate?
    The lease rate is $2 SF/Yr.
    What are key features of this property?
    This property features: - 14,512 sq ft insulated steel frame building with **1,800 sq ft finished showroom/retail space.**; - **1.02 acre paved lot** with frontage on multiple streets.; - Includes **6 auto lifts** (2 12,000lb, 3 9,000lb, and 1 7,000lb).
    (903) 885-1234
    Request Owner's contact information
    1510 Washington St Commerce, TX 75428
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    Commerce, TX 75428
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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.

    More about this property
    1510 Washington St Commerce, TX 75428
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    We can help!
    Listing Contact
    Jedidiah Walker
    Real Estate License ID: 0665867
    (903) 885-1234
    Learn more
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