Commercially Zoned Live-Work
For Sale
$139,000
1116 E State Hwy 276, West Tawakoni, TX 75474
Two-bedroom property with commercial zoning, highway exposure, and flexibility for residential occupancy or office conversion.
Property Size960 SF
Price / SF$144.79
Days on Market52
Property Features for 1116 E State Hwy 276
General Information
Standard status
Active
Size
960 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1980
Listing Agency:
1st Choice Realty
Listed By:
Jody Crocker · License #0600261
(214) 578-1297
Source:
Yourdavisteam
Added: Sep 10
Changed: Oct 26
Last Checked: Oct 7 at 4:35PM
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 1st Choice Realty
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Investment Insights
Based on property information with market context.
Built in 1980, this 960-square-foot property is currently configured as a two-bedroom, one-bath residence with a spacious living room. The layout can support conversion to office space while retaining the option for residential use, creating a live-work configuration with a practical small-business setting. The property is already zoned commercial by the city.
Located at 1116 E State Hwy 276 in West Tawakoni, the building fronts a highway described as carrying substantial traffic and is surrounded by other commercial buildings. Adjacent businesses include a storage facility, bookkeeping business, and church. A city park borders the backyard, which also has lake views. Nearby recreational features include a swimming area, playground, boat ramp, and Deer Run Golf Course.
Located at 1116 E State Hwy 276 in West Tawakoni, the building fronts a highway described as carrying substantial traffic and is surrounded by other commercial buildings. Adjacent businesses include a storage facility, bookkeeping business, and church. A city park borders the backyard, which also has lake views. Nearby recreational features include a swimming area, playground, boat ramp, and Deer Run Golf Course.
Key Highlights
- 960 square feet with 2 bedrooms and 1 bath
- Already zoned commercial by the city
- Spacious living room adaptable to office use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,175
Cap Rate
8.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$243,500
$243.5K
Cap Rate 7%
$173,929
$173.9K
Cap Rate 9%
$135,278
$135.3K
Market Conditions
NOI Build-Up for 960 SF
Gross rent
$21.1K $21.96/SF
− Vacancy
−$4.8K −$5.05/SF
EGI
$16.2K $16.91/SF
− OpEx
−$4.1K −$4.23/SF
NOI
$12.2K $12.68/SF
Area
Hunt County, TX
Vacancy
23.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$243,500
Cap Rate 7%
$173,929
Cap Rate 9%
$135,278
Alternative Uses
Best Use
Mixed Use
$189.3K
$165.6K – $220.8K
NOI $13,248 @ 7.0% cap · market cap 9.53%
Second Best
Office B
$173.9K
$152.2K – $202.9K
NOI $12,175 @ 7.0% cap · market cap 8.76%
Theoretical Best
Industrial
$953.9K
$834.7K – $1.11M
NOI $66,774 @ 7.0% cap · market cap 48.04%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
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Business Placement
Demographics for 75474, TX
16,010
Population
7,115
Households
2.3
Avg Household Size
44
Median Age
17%
College-Educated
82%
High-School Grad
105.3 sq mi
ZIP Area
152
Density / Sq Mi
$66,299
Median Household Income
$35,770
Median Earnings
$1,101
Median Rent
$169,800
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Live-work space - Two-bedroom property with commercial zoning, highway exposure, and flexibility for residential occupancy or office conversion.
Where is this live-work space located?
The property is located at 1116 E State Hwy 276 West Tawakoni, TX.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: 960 square feet with 2 bedrooms and 1 bath; Already zoned commercial by the city; Spacious living room adaptable to office use
