Mixed-Use Property with New
For Sale
$360,000
1606 S 31st Street, Temple, TX 76504
CommercialSale, Temple, TX
Property Size1,144 SF
Lot Size0.24 Acres
Price / SF$314.69
Days on Market30
Property Features for 1606 S 31st Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
GR
Parking features
Driveway, Garage
Subdivision
Dubose Add Blks 1-7
Lot features
City Lot, Less Than Quarter Acre
Elementary school district
Temple ISD
Middle school district
Temple ISD
High school district
Temple ISD
Directions
From Austin take exit 300 in Temple toward 57th St./Ave H. Merge onto S. Gen Bruce Dr. Turn onto S. 57th. At the first light turn left onto W. Ave M. Turn right at the Valero onto S. 31st St., 1606 S. 31st will be on your right.
Standard status
Active
APN
94099
Size
1,144 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
DUBOSE ADDITION (BLKS 1-7), BLOCK 001, LOT PT 3, (3, LESS 60' X 0.9' STRIP), CUSTOM ORTHOTICS
Tax Annual Amount
4825
Legal Description
DUBOSE ADDITION (BLKS 1-7), BLOCK 001, LOT PT 3, (3, LESS 60' X 0.9' STRIP), CUSTOM ORTHOTICS
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1952
Floors in Building
1
Flooring type
Hardwood
Building materials
Masonry
Roof type
Shingle, Composition
Listing Agency:
Ashby Real Estate Group
(254) 228-0032
Listed By:
Jimmy Morales · License #0737684
(254) 773-0246
Added: Jul 24
Changed: Aug 20
Last Checked: Aug 22 at 11:06PM
MLS# 620643
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,144-square-foot mixed-use property in Temple includes a three-bedroom, one-bath layout within a 1952 masonry building. Hardwood flooring, a modernized bathroom, a new Lennox HVAC system, and updated kitchen appliances are among the documented improvements. The property includes a driveway and garage, with public water and public sewer service.
Positioned across from the Baylor Scott White Medical complex, the property is within the Temple medical and educational district. Its 0.2352-acre site carries GR zoning, and the source information identifies potential applications including administrative office, legal, medical or dental, real estate, studio, retail, boutique, eatery, and short-term residential use.
Positioned across from the Baylor Scott White Medical complex, the property is within the Temple medical and educational district. Its 0.2352-acre site carries GR zoning, and the source information identifies potential applications including administrative office, legal, medical or dental, real estate, studio, retail, boutique, eatery, and short-term residential use.
Key Highlights
- 1,144‑square‑foot mixed‑use property on a 0.2352‑acre site
- GR zoning with commercial and residential uses described
- Across from the Baylor Scott White Medical complex
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,496
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$309,920
$309.9K
Cap Rate 7%
$221,371
$221.4K
Cap Rate 9%
$172,178
$172.2K
Market Conditions
NOI Build-Up for 1,144 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$23.5K $20.52/SF
− Vacancy
−$1.3K −$1.17/SF
EGI
$22.1K $19.35/SF
− OpEx
−$6.6K −$5.81/SF
NOI
$15.5K $13.55/SF
Area
Bell County, TX
Vacancy
5.70%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$309,920
Cap Rate 7%
$221,371
Cap Rate 9%
$172,178
Alternative Uses
Best Use
Retail
$221.4K
$193.7K – $258.3K
NOI $15,496 @ 7.0% cap · market cap 4.30%
Second Best
Mixed Use
$165.5K
$144.8K – $193.1K
NOI $11,583 @ 7.0% cap · market cap 3.22%
Theoretical Best
Multifamily LT 5
$12.77M
$11.17M – $14.90M
NOI $893,981 @ 7.0% cap · market cap 248.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,117
Businesses Nearby
Explore this area
Business Placement
Demographics for 76504, TX
24,682
Population
11,068
Households
2.2
Avg Household Size
36
Median Age
20%
College-Educated
84%
High-School Grad
30.8 sq mi
ZIP Area
801
Density / Sq Mi
$50,420
Median Household Income
$35,753
Median Earnings
$1,106
Median Rent
$162,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - GR-zoned property across from the Baylor Scott White Medical complex, with commercial and residential use described.
Where is this mixed-use property located?
The property is located at 1606 S 31st Street Temple, TX.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 1,144‑square‑foot mixed‑use property on a 0.2352‑acre site; GR zoning with commercial and residential uses described; Across from the Baylor Scott White Medical complex
