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    Flexible Office Building with Parking Title is generated by Realmo AI

    516 N Locust Street, Denton, TX 76201

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    Claim this Listing
    Pending
    $6,300 /Mo

    COMMERCIAL - Denton, TX

    Lot size:
    0.22 Acres
    Added:
    May 19, 2026
    Days on Market:
    19
    Last Refresh:
    Jun 6 at 1:06 am

    Property Features for 516 N Locust Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Pending
    APN
    R33715
    Lot size
    0.22 Acres

    Taxes and HOA fees

    Tax Description
    WOOD HOUSE ADDN BLK A LOT 1 OLD DCAD A-185 TR

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1935
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Laminate
    Building materials
    WoodSiding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Ben Schoenthal

    Listing agent Ben Schoenthal License #0691552

    Listing office Hall Real Estate Sanger, TX

    Listing date May 19, 2026

    MLS# 21030744

    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

    • Zoned MN, just a few blocks from the downtown square
    • 1935 wood siding building with shingle roof
    • Central heating and central air
    • Two separate rentable units option with their own entrances, or rent the entire building
    • Front section has street access with open concept, bathrooms, and office‑kitchen spaces (~2,200 sqft)
    • Back section includes open floorplan with front desk area, storage rooms, bathrooms, and office spaces (~2,500 sqft)

    Overview

    This flexible office building is configured to lease as two separate units with their own entrances or as one combined property. The back portion features an open floorplan with a front desk area, storage rooms, bathrooms, and a couple of office spaces. The front portion has street access with an open concept layout that includes bathrooms and a couple of office-kitchen spaces. The property has previously operated as a daycare, which can support a range of tenant needs depending on use requirements.

    Situated in Denton and zoned MN, the building is located just a few blocks from the downtown square. Extra parking is available, adding convenience for staff, clients, and visitors and supporting easier day-to-day operations.

    For tenants or buyers seeking a convenient, near-downtown office option with adaptable space, this offering provides practical flexibility. The two-entrance layout can support multi-tenant usage, satellite operations, or a single organization planning to expand while maintaining separate functional areas. The combination of office-ready rooms and an open-plan approach may be well suited for professional services, administrative functions, or other appropriate uses under the MN zoning framework.
    Property Profile Location Intelligence

    Current Use by Public Records

    Children First Childcare Daycare Center Heritage Nature Academy Daycare Center

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Denton
    County
    Denton
    State
    Texas
    Longitude
    -97.1320225
    Latitude
    33.2187637

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    FAQs

    What type of property is this?
    Office units - Zoned MN near downtown, offering unit-level or whole-building leasing with ample additional parking.
    Where is this office units located?
    The property is located at 516 N Locust Street Denton, TX.
    What is the lease rate?
    The lease rate is $6,300 /Mo.
    What are key features of this property?
    This property features: Zoned MN, just a few blocks from the downtown square; 1935 wood siding building with shingle roof; Central heating and central air
    (940) 284-4302
    We can help!
    Listing Contact
    Ben Schoenthal
    Real Estate License ID: 0691552
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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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