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    Prime Retail Space in Stephenville Title is generated by Realmo AI

    2133 W Washington Street, Stephenville, TX 76401

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    Claim this Listing
    For Lease
    $14,613/Mo $7 SF/Yr (calc)

    Business - Stephenville, TX

    Type:Business
    Property size:
    25,050 SF
    Added:
    Apr 9, 2026
    Days on Market:
    53
    Last Refresh:
    May 31 at 7:06 pm

    Property Features for 2133 W Washington Street

    General Information

    Property type
    Other
    Property subtype
    Business
    Parking features
    Oversized, Parking Lot
    Standard status
    Active
    APN
    R000030329
    Size
    25,050 SF

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1968
    Flooring type
    Concrete, Vinyl
    Building materials
    Brick, Plaster, Stucco
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Brittany Jones
    Brittany Jones

    Listing agent Brittany Jones License #0715526

    Listing office Texas West Real Estate LLC 1956 FM 3208, Lipan, TX

    Listing date Apr 9, 2026

    MLS# 21230451 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

    • High‑traffic location in University Plaza Shopping Center with exceptional visibility.
    • Located across from HEB (approx. 1 million annual customer visits) and near Tarleton State University (over 15,000 students).
    • Large 25,050 sq ft end‑cap space suitable for retail, service, or specialty use.
    • Recent improvements include resurfaced parking lot and renovated exterior façade.
    • Well‑maintained environment in a high‑traffic retail center.
    • Versatile space previously occupied by a large retail outlet.

    Overview

    This 25,050 square foot end-cap space is available for commercial lease in Stephenville, Texas. Located in the University Plaza Shopping Center, the property benefits from high visibility and versatility for various business uses. The location experiences strong daily consumer activity within a high-traffic retail center. Recent improvements include a resurfaced parking lot and a renovated exterior façade. An HEB Grocery Store is located directly across the street, generating approximately 1 million customer visits annually. Tarleton State University, with over 15,000 students enrolled, is two blocks away. The space, previously occupied by a large retail outlet, is suitable for retail, service, or specialty use. The lease is NNN (Triple Net).
    Property Profile Location Intelligence

    Current Use by Public Records

    Big Lots Discount Store Watermill Express Big Box & Wholesale Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Stephenville
    County
    Erath
    State
    Texas
    Longitude
    -98.2263874
    Latitude
    32.2105379

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    FAQs

    What type of property is this?
    Retail space - High-visibility retail space in a high-traffic shopping center.
    Where is this retail space located?
    The property is located at 2133 W Washington Street Stephenville, TX.
    What is the lease rate?
    The lease rate is $14,613 /Mo.
    What are key features of this property?
    This property features: High‑traffic location in University Plaza Shopping Center with exceptional visibility.; Located across from HEB (approx. 1 million annual customer visits) and near Tarleton State University (over 15,000 students).; Large 25,050 sq ft end‑cap space suitable for retail, service, or specialty use.
    (817) 694-6045
    We can help!
    Listing Contact
    Brittany Jones
    Brittany Jones
    Real Estate License ID: 0715526
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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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