Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Spacious Commercial Building in Lott Title is generated by Realmo AI

    208 E Gassaway, Lott, TX 76656

    View on Map
    Claim this Listing
    For Sale
    $115,000

    COMMERCIAL - Lott, TX

    Property size:
    4,800 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $23/SF
    Added:
    Mar 14, 2025
    Days on Market:
    449
    Last Refresh:
    Jun 5 at 12:06 pm

    Property Features for 208 E Gassaway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    29327
    Size
    4,800 SF
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    S2060 TOWNSITE OF LOTT BLK 80 LOT 15-16 .192 ACRES
    Tax Annual Amount
    2053

    Utilities

    Water source
    Public

    Building Details

    Floors in Building
    1
    Building materials
    Brick, WoodSiding

    We can help!

    Listing Contact
    Felicia Galvez-Mauldin

    Listing agent Felicia Galvez-Mauldin License #0778435

    Listing office Compass Re Texas, Llc 5960 Berkshire Lane #700, TX

    Listing date Mar 14, 2025

    MLS# 573114

    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.

    HighLights

    • Spacious 4,800 sq ft commercial building with a flexible layout.
    • Located in Lott, TX, offering visibility and accessibility, approximately 30 minutes from Temple and 45 minutes from Waco.
    • No restrictions, allowing for transformation into a retail space, event venue, restaurant, or office.
    • Building has a rich history, formerly home to Lott's Antique Mall.
    • Opportunity to revitalize and serve the community of Lott.
    • Neighboring properties are also for sale and can be purchased as a package.

    Overview

    This expansive commercial building in Lott, TX, offers approximately 4,800 square feet of space, presenting a significant opportunity for investors and entrepreneurs. The property is located 30 minutes from Temple and 45 minutes from Waco, providing visibility and accessibility. The building features a large storefront, a deep interior, and a flexible layout, making it suitable for businesses requiring substantial space. Previously home to an antique mall, the property has a history within the community. With no restrictions, the building can be transformed into a retail space, event venue, restaurant, or office. Situated on a 0.192-acre lot in a town with character, this property has the potential to revitalize and serve the community. Neighboring properties are also for sale and can be purchased as a package.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lott
    County
    Falls
    State
    Texas
    Longitude
    -97.034829
    Latitude
    31.205776

    Nearby Similar for Sale

    • $115,000
      4,800 SF

      Expansive Retail/Office Building

      Large commercial building with a deep interior and storefront, offering flexible space for retail, office, or restaurant concepts.
      208 E Gassaway Avenue, Lott, TX 76656
      View Details
    • $178,500
      2,400 SF

      Restaurant Ready in Historic Downtown

      Restaurant with equipment included in historic Lott, Texas.
      112 Gassaway, Lott, TX 76656
      View Details
    • $178,500
      2,400 SF

      Downtown Lott Commercial Opportunity

      Move-in ready commercial space in historic downtown Lott, Texas.
      116 Gassaway Avenue, Lott, TX 76656
      View Details
    • $178,500

      Turnkey Restaurant with Commercial Kitchen

      Turnkey restaurant setup with included furniture and commercial kitchen equipment, plus updated HVAC and interior dining space.
      112 Gassaway Avenue, Lott, TX 76656
      View Details
    • $178,500

      Versatile Flex-Use Commercial Building

      Move-in ready commercial space with roll-up doors and updated systems, suited for retail, office, storage, or workshop uses.
      116 Gassaway, Lott, TX 76656
      View Details
    • $499,999

      50.22 Acres of Rolling Pasture

      50.22 acres with tanks, pens, utilities, and homesite.
      Cr 462, Lott, TX 76656
      View Details
    • $50,000

      Retail Storefront Building

      Freestanding storefront in Lott with unrestricted development potential, offering flexibility for retail or mixed-use concepts.
      204 E Gassaway Avenue, Lott, TX 76656
      View Details
    • $55,000

      Downtown Retail or Office Building

      Former beauty salon with a courtyard and flexible layout, positioned on main street for high visibility in a growing community.
      Gassaway Avenue, Lott, TX 76656
      View Details
    • $178,500

      Restaurant Ready in Historic Downtown

      Restaurant with equipment included, ready for new owner.
      112 Gassaway, Lott, TX 76656
      View Details
    • $178,500
      2,400 SF

      Downtown Lott Commercial Space

      Versatile commercial space in historic downtown Lott, Texas.
      116 E Gassaway, Lott, TX
      View Details
    • $178,500

      Downtown Lott Commercial Space

      Move-in ready commercial space with recent updates and flexible layout.
      116 Gassaway Ave, Lott, TX 76656
      View Details
    • $115,000
      4,800 SF

      Spacious Commercial Building in Lott

      4,800 sq ft commercial building with endless potential.
      208 E Gassaway Avenue, Lott, TX 76656
      View Details

    FAQs

    What type of property is this?
    Storefront property - 4,800 sq ft commercial building with flexible layout.
    Where is this storefront property located?
    The property is located at 208 E Gassaway Lott, TX.
    What is the asking price?
    The asking price for this property is $115,000.
    What are key features of this property?
    This property features: Spacious 4,800 sq ft commercial building with a flexible layout.; Located in Lott, TX, offering visibility and accessibility, approximately 30 minutes from Temple and 45 minutes from Waco.; No restrictions, allowing for transformation into a retail space, event venue, restaurant, or office.
    (254) 702-2957
    We can help!
    Listing Contact
    Felicia Galvez-Mauldin
    Real Estate License ID: 0778435
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    208 E Gassaway, Lott, TX 76656
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!