Updated Downtown Retail
For Sale
$595,000
1132 Main Street, Commerce, TX 75428
CommercialSale, Commerce, TX
Property Size3,119 SF
Lot Size0.07 Acres
Price / SF$190.77
Days on Market34
Property Features for 1132 Main Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial-F1
Parking features
On Street
Vegetation
Wooded
Subdivision
Orig Town Of Commerce
Lot features
Interior Lot, Level
Directions
West I-30 Exit 101 SH24 to Live Oak St Right to Washington Left to Main Right Downtown Commerce Texas.
Standard status
Active
APN
54174
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
S4380 ORIG TOWN OF COMMERCE BLK 4 LOT 15 ACRE
Tax Annual Amount
2459
Legal Description
S4380 ORIG TOWN OF COMMERCE BLK 4 LOT 15 ACRE
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air, Gas (Cooling)
Water source
Public
Building Details
Year built
1920
Floors in Building
1
Number of units
1
Flooring type
Carpet, Tile, Hardwood
Building materials
Brick, FiberCement
Roof type
Composition
Listing Agency:
Coldwell Banker Apex, REALTORS · Coldwell Banker Real Estate
(972) 772-9300
Listed By:
Dee Evans · License #0508288
(469) 450-7355
Added: Jul 27
Changed: Aug 26
Last Checked: Aug 29 at 8:06AM
MLS# 21206920
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.
Investment Insights
Based on property information with market context.
Built in 1920, this 3,119-square-foot retail property occupies a 0.072-acre parcel on the downtown square in Commerce. The building is currently arranged for a sound studio, rehearsal hall, and music retail operation, with front retail and office areas, two studio spaces, a kitchen, restroom, storage, and rear shop space. Three leases are in place. Studio infrastructure and building improvements may remain, while equipment and instruments are excluded.
Recent work includes a 2020 commercial 3-inch ISO roof, refreshed electrical, plumbing, HVAC, lighting, carpet, ceiling fans, ductwork, awning, exterior elements, and interior finishes. The property also features restored upper-front windows, replacement rear metal doors, a metal R-panel shed roof over the rear shop, and a handicap-accessible entrance and restroom. Brick and fiber cement construction, tile, hardwood, and carpet flooring, public water and sewer, central heating and cooling, natural gas service, and on-street parking complete the property profile.
Recent work includes a 2020 commercial 3-inch ISO roof, refreshed electrical, plumbing, HVAC, lighting, carpet, ceiling fans, ductwork, awning, exterior elements, and interior finishes. The property also features restored upper-front windows, replacement rear metal doors, a metal R-panel shed roof over the rear shop, and a handicap-accessible entrance and restroom. Brick and fiber cement construction, tile, hardwood, and carpet flooring, public water and sewer, central heating and cooling, natural gas service, and on-street parking complete the property profile.
Key Highlights
- 3,119‑square‑foot commercial building on a 0.072‑acre parcel
- Three leases currently in place
- Downtown square location in Commerce, TX
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
$50,186
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
8.43%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Three existing leases support immediate occupancy across a flexible, professionally improved commercial layout.
Where is this retail space located?
The property is located at 1132 Main Street 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 on a 0.072‑acre parcel; Three leases currently in place; Downtown square location in Commerce, TX
