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    Flex Space with Detached Workshop Title is generated by Realmo AI

    106 S College Street, Lindale, TX 75771

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    For Sale
    $180,000

    COMMERCIAL - Lindale, TX

    Lot size:
    0.13 Acres
    Added:
    Feb 4, 2026
    Days on Market:
    119
    Last Refresh:
    Jun 3 at 11:06 am

    Property Features for 106 S College Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    130000001000003000
    Lot size
    0.13 Acres

    Taxes and HOA fees

    Tax Description
    CITY OF LINDALE BLOCK 10 LOT 3
    Tax Annual Amount
    985

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1940
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Carpet
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Delanee Clark
    Delanee Clark

    Listing agent Delanee Clark License #0710720

    Listing office RE/MAX Landmark Terrell, TX

    Listing date Feb 4, 2026

    MLS# 20359347

    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

    • Brick building with composition roof and carpet flooring
    • Window unit cooling; public water and public sewer service
    • Year built 1940
    • Main space includes large open area, 2 rooms for offices or storage, full bath, and kitchenette
    • Detached 20x24 workshop with bay door for equipment or inventory storage
    • Zoned for Downtown Mixed Use District; located just off Hwy‑69 near downtown Lindale

    Overview

    This property offers a flexible, open main area designed for showroom or workspace use, along with two additional rooms that can serve as offices or storage. The unit includes a full bath and kitchenette for everyday convenience, making it practical for both employees and customers. A detached 20x24 workshop with a bay door adds further utility for equipment and inventory storage, helping separate work areas while keeping operations organized.

    Located just off Hwy-69 in the heart of Lindale, the property sits amid successful retail and restaurants near downtown. The Downtown Mixed Use District zoning provides a broad foundation for adaptive use, supporting a range of commercial and investment strategies.

    With its combination of an open sales or work zone, dedicated back-of-house space, and an exterior shop bay, the property can fit many tenant and owner-operator needs. It may be suitable for businesses seeking a single location for day-to-day operations plus secure storage, or for investors looking for a straightforward asset with multiple potential configurations. If you are evaluating opportunities in a fast-growing North-East Texas market, this flexible setup is a strong place to start.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    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.

    Similar Places Nearby

    • Texas Music City Grill & Smokehouse — 66 Miranda Lambert Way Unit 4, Lindale, TX 75771

    Location Insight

    • Map
    • Local Demand
    City
    Lindale
    County
    Smith
    State
    Texas
    Longitude
    -95.411597
    Latitude
    32.514722

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    FAQs

    What type of property is this?
    Flex space - Versatile interior layout plus a detached workshop with bay door supports retail, office, or storage needs.
    Where is this flex space located?
    The property is located at 106 S College Street Lindale, TX.
    What is the asking price?
    The asking price for this property is $180,000.
    What are key features of this property?
    This property features: Brick building with composition roof and carpet flooring; Window unit cooling; public water and public sewer service; Year built 1940
    (972) 524-2525
    We can help!
    Listing Contact
    Delanee Clark
    Delanee Clark
    Real Estate License ID: 0710720
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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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