Updated Creative Space
For Sale
$595,000
1132 Main St, Commerce, TX 75428
Commercial building with three existing leases and flexible studio, rehearsal, retail, and office functionality.
Property Size3,119 SF
Price / SF$190.77
Days on Market84
Property Features for 1132 Main St
General Information
Standard status
Active
Size
3,119 SF
Building Details
Year Built
1920
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Apex, REALTORS
Listed By:
Dee Evans · License #0508288
(972) 567-0046
Source:
Heritance
Added: Jul 22
Changed: Oct 13
Last Checked: Oct 7 at 1:12PM
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 Coldwell Banker Apex, REALTORS
Investment Insights
Based on property information with market context.
Built in 1920, this 3,119-square-foot commercial building occupies a downtown square location in a university town. The property is currently configured for sound production, rehearsal use, music retail, and office operations, with three leases already in place. Existing improvements include Studio A and Studio B infrastructure, front retail and office areas, a kitchen, accessible entrance and restroom, and rear service access through double metal doors.
Recent work includes a 2020 commercial 3-inch ISO roof, updated electrical, plumbing, HVAC, and metal ductwork, along with a replacement metal R-panel shed roof over the rear shop. Additional improvements include commercial carpet, lighting, ceiling fans, painted metal ceiling tiles, refreshed interior paint, an updated awning, and restoration of the upper front window. Studio infrastructure and building may be included, excluding equipment and instruments. The property is located at 1132 Main St, Commerce, TX 75428.
Recent work includes a 2020 commercial 3-inch ISO roof, updated electrical, plumbing, HVAC, and metal ductwork, along with a replacement metal R-panel shed roof over the rear shop. Additional improvements include commercial carpet, lighting, ceiling fans, painted metal ceiling tiles, refreshed interior paint, an updated awning, and restoration of the upper front window. Studio infrastructure and building may be included, excluding equipment and instruments. The property is located at 1132 Main St, Commerce, TX 75428.
Key Highlights
- 3,119‑square‑foot commercial building constructed in 1920
- Three leases currently in place
- Configured for sound studio, rehearsal, music retail, and office uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,186
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,003,720
$1.0M
Cap Rate 7%
$716,943
$716.9K
Cap Rate 9%
$557,622
$557.6K
Market Conditions
NOI Build-Up for 3,119 SF
Gross rent
$75.2K $24.12/SF
− Vacancy
−$3.5K −$1.13/SF
EGI
$71.7K $22.99/SF
− OpEx
−$21.5K −$6.90/SF
NOI
$50.2K $16.09/SF
Area
Hunt County, TX
Vacancy
4.70%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,003,720
Cap Rate 7%
$716,943
Cap Rate 9%
$557,622
Alternative Uses
Best Use
Retail
$716.9K
$627.3K – $836.4K
NOI $50,186 @ 7.0% cap · market cap 8.43%
Second Best
Office B
$565.1K
$494.4K – $659.3K
NOI $39,555 @ 7.0% cap · market cap 6.65%
Theoretical Best
Industrial
$3.10M
$2.71M – $3.62M
NOI $216,946 @ 7.0% cap · market cap 36.46%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
Explore this area
Business Placement
Demographics for 75428, TX
11,192
Population
4,616
Households
2.4
Avg Household Size
28
Median Age
23%
College-Educated
85%
High-School Grad
92.9 sq mi
ZIP Area
120
Density / Sq Mi
$48,372
Median Household Income
$23,299
Median Earnings
$910
Median Rent
$145,600
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Creative space - Commercial building with three existing leases and flexible studio, rehearsal, retail, and office functionality.
Where is this creative space located?
The property is located at 1132 Main St Commerce, TX.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3,119‑square‑foot commercial building constructed in 1920; Three leases currently in place; Configured for sound studio, rehearsal, music retail, and office uses
