Flexible Commercial Space with
For Sale
$150,000
106 S College St, Lindale, TX 75771
Commercial Sale, Lindale, TX
Property Size1,240 SF
Lot Size0.12 Acres
Price / SF$119.05
Days on Market44
Property Features for 106 S College St
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Inside City Limits
Directions
From the intersection of Hwy 69 and Hwy 16 go West on 16 .1 miles. Turn left onto College St. Property on the left.
Standard status
Active
Size
1,260 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CITY OF LINDALE BLOCK 10 LOT 3 PT
Tax Annual Amount
1559
Legal Description
CITY OF LINDALE BLOCK 10 LOT 3 PT
Amenities
full bathroom
kitchenette
Building Details
Year built
1940
Building materials
Frame, Siding
Listing Agency:
Leslie Cain Realty, LLC
(903) 594-8721
Listed By:
Cody Madsen · License #0834859
(903) 767-6456
Added: Jul 10
Changed: Aug 20
Last Checked: Aug 22 at 9:06AM
MLS# 26009636
Copyright © 2026 Greater Tyler Association 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 flexible commercial property includes an open main area, two private rooms suitable for offices or storage, a full bathroom, and a kitchenette. The detached 20' x 24' workshop adds an overhead bay door and separate room for equipment, inventory, or storage. Frame construction with siding and a 1940 build date complete the physical profile.
The property is located at 106 S College St in Lindale, near Downtown Lindale and minutes from Hwy 69. It is within the Downtown Mixed-Use District and is surrounded by local businesses and restaurants. The layout supports a range of commercial configurations, including retail, office, professional services, boutique, salon, or studio use, as identified for the property.
The property is located at 106 S College St in Lindale, near Downtown Lindale and minutes from Hwy 69. It is within the Downtown Mixed-Use District and is surrounded by local businesses and restaurants. The layout supports a range of commercial configurations, including retail, office, professional services, boutique, salon, or studio use, as identified for the property.
Key Highlights
- Flexible space in Lindale’s Downtown Mixed‑Use District
- Open main area plus two private offices or storage rooms
- Detached 20' x 24' workshop with overhead bay door
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
$6,489
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
4.33%
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%
$129,780
$129.8K
Cap Rate 7%
$92,700
$92.7K
Cap Rate 9%
$72,100
$72.1K
Market Conditions
NOI Build-Up for 1,260 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
$10.1K $8.04/SF
− Vacancy
−$861 −$0.68/SF
EGI
$9.3K $7.36/SF
− OpEx
−$2.8K −$2.21/SF
NOI
$6.5K $5.15/SF
Area
Smith County, TX
Vacancy
8.50%
Lease Rate
$8.04 /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%
$129,780
Cap Rate 7%
$92,700
Cap Rate 9%
$72,100
Alternative Uses
Best Use
Retail
$242.4K
$212.1K – $282.8K
NOI $16,967 @ 7.0% cap · market cap 11.31%
Second Best
Office B
$213.8K
$187.1K – $249.5K
NOI $14,969 @ 7.0% cap · market cap 9.98%
Theoretical Best
Hotel Hospitality
$949.1K
$830.4K – $1.11M
NOI $66,434 @ 7.0% cap · market cap 44.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75771, TX
21,870
Population
9,241
Households
2.4
Avg Household Size
41
Median Age
29%
College-Educated
91%
High-School Grad
146.1 sq mi
ZIP Area
150
Density / Sq Mi
$90,112
Median Household Income
$48,088
Median Earnings
$1,318
Median Rent
$266,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial property with open workspace, private rooms, kitchenette, and detached workshop in Lindale’s Downtown Mixed-Use District.
Where is this flex space located?
The property is located at 106 S College St Lindale, TX.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Flexible space in Lindale’s Downtown Mixed‑Use District; Open main area plus two private offices or storage rooms; Detached 20' x 24' workshop with overhead bay door
