Mixed-Use
For Sale
Contact for pricing
109 N Lutterloh Ave, Gatesville, TX 76528
The property is a mixed-use building constructed in 1935.
Property Size1,935 SF
Price / SF$129.20
Days on Market171
Property Features for 109 N Lutterloh Ave
General Information
Standard status
Active
Size
1,935 SF
Property subtype
Mixed Use, Office
Building Details
Year Built
1935
Buildings
1
Stories
1
Listing Agency:
Keller Williams Frisco Stars
(972) 712-9898
Listed By:
Jana Carpenter · License #TX 704283
Source:
Crexi
Added: Mar 15
Changed: Aug 30
Last Checked: Sep 1 at 4:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Frisco Stars
Investment Insights
Based on property information with market context.
This mixed-use property contains 1,935 square feet and was constructed in 1935. The building is located at 109 N Lutterloh Ave in Gatesville, Texas.
The seller will consider a rental arrangement, carry a note for one year, or complete a sale, providing multiple transaction structures for review.
The seller will consider a rental arrangement, carry a note for one year, or complete a sale, providing multiple transaction structures for review.
Key Highlights
- 1,935‑square‑foot mixed‑use property
- Constructed in 1935
- Located at 109 N Lutterloh Ave, Gatesville, TX 76528
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
$18,286
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
7.31%
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%
$365,720
$365.7K
Cap Rate 7%
$261,229
$261.2K
Cap Rate 9%
$203,178
$203.2K
Market Conditions
NOI Build-Up for 1,935 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
$32.5K $16.80/SF
− Vacancy
−$3.3K −$1.68/SF
EGI
$29.3K $15.12/SF
− OpEx
−$11.0K −$5.67/SF
NOI
$18.3K $9.45/SF
Area
Coryell County, TX
Vacancy
10.00%
Lease Rate
$16.80 /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%
$365,720
Cap Rate 7%
$261,229
Cap Rate 9%
$203,178
Alternative Uses
Best Use
Office B
$365.4K
$319.7K – $426.3K
NOI $25,579 @ 7.0% cap · market cap 10.23%
Second Best
Mixed Use
$261.2K
$228.6K – $304.8K
NOI $18,286 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$464.8K
$406.7K – $542.2K
NOI $32,534 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
Explore this area
Business Placement
Demographics for 76528, TX
18,773
Population
7,311
Households
2.6
Avg Household Size
40
Median Age
18%
College-Educated
89%
High-School Grad
486.3 sq mi
ZIP Area
39
Density / Sq Mi
$66,989
Median Household Income
$37,705
Median Earnings
$848
Median Rent
$189,900
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?
Mixed-use property - The property is a mixed-use building constructed in 1935.
Where is this mixed-use property located?
The property is located at 109 N Lutterloh Ave Gatesville, TX.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,935‑square‑foot mixed‑use property; Constructed in 1935; Located at 109 N Lutterloh Ave, Gatesville, TX 76528
