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    Mediterranean-Style Office Building Title is generated by Realmo AI

    1518 Colony Circle, Longview, TX 75604

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    For Sale
    $620,000

    Office - Longview, TX

    Type:Office
    Lot size:
    0.49 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    47
    Last Refresh:
    May 9 at 12:06 am

    Property Features for 1518 Colony Circle

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    Lot size
    0.49 Acres

    Building Details

    Year built
    2019
    Floors in Building
    1
    Number of units
    1
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Julie Woods
    Julie Woods

    Listing agent Julie Woods

    Listing office Julie Woods & Associate RE Firm 1116 Judson Rd, Longview, TX

    Listing date Mar 24, 2026

    MLS# 20262079 Listing URL

    Copyright © 2026 Longview Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Adaptable Layout: Proven successful as a law firm, ideally suited for legal, medical, counseling, or accounting offices.
    • Functional and Flexible Design: Features five private offices, two convertible meeting rooms, and three bathrooms.
    • Distinctive Mediterranean Architecture: Impressive building with inviting terrace and patio.
    • Excellent Parking: Located in a quiet cul‑de‑sac with ample parking space.
    • High‑End Interior Finishes: Showcases granite countertops, custom built‑ins, elegant brick archways, wood tile beams, and rock fireplace.
    • Secure and Comfortable: Equipped with a security system, two HVAC units, and abundant storage.

    Overview

    This Mediterranean-style commercial building features five private offices, two large meeting rooms, and three bathrooms. The two spacious meeting rooms offer versatility and can be converted into additional offices or configured with cubicles. The property is located in a quiet cul-de-sac and includes a terrace and a second patio. A private owner’s entrance adds convenience and privacy. The building showcases design details including eight-foot doors, wood tile beams, and a rock fireplace. The interior features a modern color palette, granite countertops, custom built-ins, and brick archways. A security system is in place. The layout has been successfully operated as a law firm and is suited for continued legal use or conversion to medical, counseling, or accounting offices. Additional features include a functional kitchen area, mail room, and storage. Two HVAC units provide climate control. The property is located in Longview, TX, on a 0.49-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shoco Production, LLC Oil & Natural Gas Company

    Suggested Use

    Real Estate Agency Restaurant Law Firm 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.

    Location Insight

    • Map
    • Local Demand
    City
    Longview
    County
    Gregg
    State
    Texas
    Longitude
    -94.771644
    Latitude
    32.511551

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    FAQs

    What type of property is this?
    Office building - Adaptable commercial space with professional appeal in Longview, TX.
    Where is this office building located?
    The property is located at 1518 Colony Circle Longview, TX.
    What is the asking price?
    The asking price for this property is $620,000.
    What are key features of this property?
    This property features: Adaptable Layout: Proven successful as a law firm, ideally suited for legal, medical, counseling, or accounting offices.; Functional and Flexible Design: Features five private offices, two convertible meeting rooms, and three bathrooms.; Distinctive Mediterranean Architecture: Impressive building with inviting terrace and patio.
    (903) 587-5373
    We can help!
    Listing Contact
    Julie Woods
    Julie Woods
    Real Estate License ID: 0573602
    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.

    More about this property
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