Fully Leased Shopping
For Sale
$4,112,903
210/220 Crestway Dr, Athens, TX 75751
Commercial Sale, Athens, TX
Property Size20,590 SF
Price / SF$199.75
Days on Market18
Property Features for 210/220 Crestway Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commeri
Subdivision
Henderson
Standard status
Active
APN
0171.0910.0A00.01
Size
20,590 SF
Taxes and HOA fees
Tax Description
SEE AGENT REMARKS
Legal Description
SEE AGENT REMARKS
Building Details
Year built
2006
Listing Agency:
Stewart & McGee Real Estate, LLC.
(903) 675-5207
Listed By:
Julie Stewart · License #0391806
(903) 804-8003
Added: Aug 7
Changed: Aug 20
Last Checked: Aug 24 at 10:06PM
MLS# 113289
Copyright © 2026 Henderson County Board 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.
Investment Insights
Based on property information with market context.
This shopping center comprises two commercial buildings totaling 20,590 square feet, both constructed in 2006. The property is 100% occupied by a varied tenant roster spanning restaurants, retail businesses, and professional offices. Restaurant occupants include Domino's, Kia Asian, and Roost, while other businesses include a dental practice, home health provider, smoke shop, nail salon, and hair salon.
The property is positioned in Athens, Texas, at the intersection of two Crestway addresses. Its tenant mix includes customer-facing businesses alongside office users, creating activity across multiple commercial categories. The offering is presented as a fully leased center with established occupancy and an existing operating tenant base.
The property is positioned in Athens, Texas, at the intersection of two Crestway addresses. Its tenant mix includes customer-facing businesses alongside office users, creating activity across multiple commercial categories. The offering is presented as a fully leased center with established occupancy and an existing operating tenant base.
Key Highlights
- Two commercial buildings totaling 20,590 square feet
- 100% occupied by restaurant, retail, and professional office tenants
- Constructed in 2006
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
$282,482
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
6.87%
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%
$5,649,640
$5.6M
Cap Rate 7%
$4,035,457
$4.0M
Cap Rate 9%
$3,138,689
$3.1M
Market Conditions
NOI Build-Up for 20,590 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
$412.6K $20.04/SF
− Vacancy
−$9.1K −$0.44/SF
EGI
$403.5K $19.60/SF
− OpEx
−$121.1K −$5.88/SF
NOI
$282.5K $13.72/SF
Area
Henderson County, TX
Vacancy
2.20%
Lease Rate
$20.04 /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%
$5,649,640
Cap Rate 7%
$4,035,457
Cap Rate 9%
$3,138,689
Alternative Uses
Best Use
Retail
$4.04M
$3.53M – $4.71M
NOI $282,482 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.24M
$6.34M – $8.45M
NOI $507,008 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
319k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Superstores 22%
Shops & Services 15%
Home Improvements & Furnishings 5%
Walmart
Superstores
71,445 visits/mo
0.4 miles
McDonald's
Dining
25,654 visits/mo
0.2 miles
Murphy USA
Shops & Services
24,410 visits/mo
0.3 miles
Tractor Supply Co.
Home Improvements & Furnishings
14,820 visits/mo
0.5 miles
Chili's Grill & Bar
Dining
14,039 visits/mo
0.5 miles
Demographics for 75751, TX
17,100
Population
7,432
Households
2.3
Avg Household Size
39
Median Age
20%
College-Educated
85%
High-School Grad
180.4 sq mi
ZIP Area
95
Density / Sq Mi
$71,524
Median Household Income
$31,897
Median Earnings
$1,063
Median Rent
$205,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Two commercial buildings combine restaurant, retail, and professional office tenancy in Athens.
Where is this shopping center located?
The property is located at 210/220 Crestway Dr Athens, TX.
What is the asking price?
The asking price for this property is $4,112,903.
What are key features of this property?
This property features: Two commercial buildings totaling 20,590 square feet; 100% occupied by restaurant, retail, and professional office tenants; Constructed in 2006
