Historic Mixed-Use Property with Flex
New
For Sale
$600,000
445 N Wall Street, Belton, TX 76513
CommercialSale, Belton, TX
Property Size3,866 SF
Lot Size0.69 Acres
Price / SF$155.20
Days on Market4
Property Features for 445 N Wall Street
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Garage, Oversize
Interior features
Attic, Storage
Subdivision
Alexanders Add
Lot features
Corner Lot, City Lot, Level, Mature Trees, Half To One Acre Lot
Elementary school district
Belton ISD
Middle school district
Belton ISD
High school district
Belton ISD
Directions
From downtown Belton, head east on E Central Ave. Turn Left on N Wall Street. The destination will be on your right.
Standard status
Active
APN
109706
Size
3,866 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ALEXANDERS ADDITION, BLOCK 004, LOT 4, PT 3, (W 50' OF 3)
Tax Annual Amount
14415
Legal Description
ALEXANDERS ADDITION, BLOCK 004, LOT 4, PT 3, (W 50' OF 3)
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1925
Floors in Building
2
Flooring type
Tile, Wood, Hardwood
Building materials
Brick, Masonry
Roof type
Shingle, Composition
Additional Structures
Storage
Listing Agency:
Aspen Real Estate
Listed By:
Adelaide Baird · License #0721316
(254) 444-2213
Added: Sep 15
Changed: Sep 17
Last Checked: Sep 18 at 3:06AM
MLS# 625418
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.
Built in 1925 and renovated for modern use, this 3,866-square-foot mixed-use property combines a five-bedroom, 2.5-bath main house with storage, attic space, tile and hardwood flooring, and updated building systems. Three HVAC systems and ductwork were installed in 2021. The property also includes a 2,500-square-foot metal shop, detached garage, workshop, and additional outbuilding, along with unfinished areas that can be customized. A gated driveway provides on-site parking, with additional street parking available.
Set on a 0.6921-acre corner lot at 445 N Wall Street, the property is located two blocks from Downtown Belton and within walking distance of the Courthouse Square, restaurants, shops, live music, farmers' markets, and seasonal festivals. It is situated in Belton's Uptown District and may continue in residential use or accommodate office, co-working, event, dining, and retail uses without a zoning change requirement. Public water and sewer serve the property. The sale is offered AS-IS, and furnishings are not included.
Set on a 0.6921-acre corner lot at 445 N Wall Street, the property is located two blocks from Downtown Belton and within walking distance of the Courthouse Square, restaurants, shops, live music, farmers' markets, and seasonal festivals. It is situated in Belton's Uptown District and may continue in residential use or accommodate office, co-working, event, dining, and retail uses without a zoning change requirement. Public water and sewer serve the property. The sale is offered AS-IS, and furnishings are not included.
Key Highlights
- 3,866 SF mixed‑use property on a 0.6921‑acre corner lot
- 1925 construction with renovated interior and preserved historic character
- Five bedrooms and 2.5 baths in the main residence
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
$39,143
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
6.52%
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%
$782,860
$782.9K
Cap Rate 7%
$559,186
$559.2K
Cap Rate 9%
$434,922
$434.9K
Market Conditions
NOI Build-Up for 3,866 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
$69.6K $18.00/SF
− Vacancy
−$7.0K −$1.80/SF
EGI
$62.6K $16.20/SF
− OpEx
−$23.5K −$6.07/SF
NOI
$39.1K $10.13/SF
Area
Bell County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$782,860
Cap Rate 7%
$559,186
Cap Rate 9%
$434,922
Alternative Uses
Best Use
Apartment 5plus
$39.55M
$34.61M – $46.14M
NOI $2,768,545 @ 7.0% cap · market cap 461.42%
Second Best
Mixed Use
$559.2K
$489.3K – $652.4K
NOI $39,143 @ 7.0% cap · market cap 6.52%
Theoretical Best
Multifamily LT 5
$43.16M
$37.76M – $50.35M
NOI $3,021,093 @ 7.0% cap · market cap 503.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
Explore this area
Business Placement
Demographics for 76513, TX
43,698
Population
16,004
Households
2.7
Avg Household Size
36
Median Age
33%
College-Educated
89%
High-School Grad
108.3 sq mi
ZIP Area
403
Density / Sq Mi
$82,366
Median Household Income
$38,428
Median Earnings
$1,216
Median Rent
$260,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated historic property near Downtown Belton with flexible residential, office, event, dining, and retail possibilities.
Where is this mixed-use property located?
The property is located at 445 N Wall Street Belton, TX.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 3,866 SF mixed‑use property on a 0.6921‑acre corner lot; 1925 construction with renovated interior and preserved historic character; Five bedrooms and 2.5 baths in the main residence
