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    Versatile Office Space in Stephenville Title is generated by Realmo AI

    205 River North Boulevard, Stephenville, TX 76401

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    For Lease
    $2,950/Mo $12 SF/Yr (calc)

    Office - Stephenville, TX

    Type:Office
    Property size:
    2,754 SF
    Lot size:
    0.50 Acres
    Added:
    Mar 1, 2026
    Days on Market:
    83
    Last Refresh:
    May 23 at 8:06 pm

    Property Features for 205 River North Boulevard

    General Information

    Property type
    Other
    Property subtype
    Office
    Parking features
    On Street, Other
    Standard status
    Active
    APN
    R000033164
    Size
    2,754 SF
    Lot size
    0.50 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Ceiling Fan(s), Central Air, Electric

    Building Details

    Year built
    1982
    Flooring type
    Linoleum, Tile, Tile - Ceramic
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Joseph Selem

    Listing agent Joseph Selem

    Listing office LA JOYA REALTY 811 W. Green, Stephenville, TX

    Listing date Mar 1, 2026

    MLS# 20992421 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

    • Ideally suited for medical or physical therapy use.
    • Flexible leasing options available, from 1,756 sq ft to 6,552 sq ft.
    • Suite A: 2,732 sq ft with private office/conference room and kitchen hookups.
    • Suite B: 2,080 sq ft featuring a reception area and five private offices, each with its own bathroom.
    • Suite C: 1,756 sq ft with high ceilings and three half bathrooms.
    • Located close to Ranger College.

    Overview

    This property, formerly a Child Development Center, is located close to Ranger College and Stephenville Medical Clinic, making it ideally suited for medical or physical therapy use. The property offers flexible leasing options with three units available individually or combined, totaling 6,552 square feet. Suite A provides 2,732 square feet, featuring a private office or conference room, a kitchen with dishwasher hookups, a utility room with washer and dryer hookups, and three half bathrooms. The main floor is open with a vaulted ceiling, allowing for customized build-out to suit various needs. Suite B offers 2,080 square feet, including a reception area and five private offices, each with its own bathroom. Suite C provides 1,756 square feet with high ceilings, three half bathrooms, and a storage room, suitable for accommodating weight machines or use as a dance studio. The property is situated on a 0.5-acre lot in Stephenville, Erath County, Texas.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

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

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

    Similar Places Nearby

    • Cornerstone Animal Hospital — 1259 W Lingleville Rd, Stephenville, TX 76401
    • Dr. Lauren Adams — 1259 W Lingleville Rd, Stephenville, TX 76401
    • River North Small Animal Hospital — 207 River N Blvd, Stephenville, TX 76401

    Location Insight

    • Map
    • Local Demand
    City
    Stephenville
    County
    Erath
    State
    Texas
    Longitude
    -98.231053
    Latitude
    32.230058

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    FAQs

    What type of property is this?
    Medical Office Space - Adaptable office suites suitable for medical, therapy, or daycare.
    Where is this medical office space located?
    The property is located at 205 River North Boulevard Stephenville, TX.
    What is the lease rate?
    The lease rate is $2,950 /Mo.
    What are key features of this property?
    This property features: Ideally suited for medical or physical therapy use.; Flexible leasing options available, from 1,756 sq ft to 6,552 sq ft.; Suite A: 2,732 sq ft with private office/conference room and kitchen hookups.
    (254) 592-7161
    We can help!
    Listing Contact
    Joseph Selem
    Request Owner's contact information
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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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