Historic Mixed-Use Commercial
115 N 1 St Street Midlothian, TX 76065
115 N 1 St Street, Midlothian, TX, 76065
$725,000
For Sale
$725,000
Renovated 1902 Craftsman with flexible interior, covered patio, ample parking, and a detached 50' x 25' metal building.
Property Size3,038 SF
Lot Size0.50 Acres
Price / SF$238.64
Days on Market92
Property Features for 115 N 1 St Street
General Information
- Standard status
- Active
- Size
- 3,038 SF
- Lot size
- 0.50 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1902
Listing agency
Better Homes & Gardens, Winans
(817) 564-5901
Listed by
Linda Olson
Source
Signaturere
Added: Apr 22 Updated: Jul 21 at 7:54PM Checked: Jul 21 at 7:54PM
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 Better Homes & Gardens, Winans
Investment Insights
Based on property information with market context.
A renovated historic 1902 Craftsman property updated in 2022 while preserving original character. The interior is flexible for professional office use, boutique retail, or other compatible business concepts. Improvements include a new roof, replacement of all windows, updated lighting, plumbing fixture upgrades, and an energy-efficient tankless water heater to help minimize upfront capital expenditure. A covered patio with a built-in gas grill provides an outdoor option for client-facing use. The lot is fully fenced for added security.
The property is located one lot off Main Street in downtown Midlothian with direct views of Kimmel Park, offering strong exposure and accessibility, and is also positioned near US Hwy 287. The site spans nearly half an acre with ample on-site parking.
A detached 50' x 25' Mueller metal building with electric and water service includes workshop space and loft storage, adding useful capacity for operations, storage, or additional workspace.
The property is located one lot off Main Street in downtown Midlothian with direct views of Kimmel Park, offering strong exposure and accessibility, and is also positioned near US Hwy 287. The site spans nearly half an acre with ample on-site parking.
A detached 50' x 25' Mueller metal building with electric and water service includes workshop space and loft storage, adding useful capacity for operations, storage, or additional workspace.
Key Highlights
- Renovated 1902 Craftsman property updated in 2022 while preserving original character
- Flexible interior space adaptable for office, retail, or bed & breakfast use
- Recent improvements: new roof, all windows replaced, updated lighting, and plumbing fixtures
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $93.3k | $30.72 |
| − Vacancy | −$25.6k | −$8.42 |
| EGI | $67.8k | $22.30 |
| − OpEx | −$16.9k | −$5.58 |
| NOI | $50.8k | $16.73 |
3,038 SF · lease $30.72/SF/yr · vacancy 27.40% · expense 25.00%
Alternative Uses
Best Use
Office B
$726.0K
$635.2K – $847.0K
NOI $50,817 @ 7.0% cap · market cap 7.01%
Second Best
Retail
$720.4K
$630.3K – $840.4K
NOI $50,426 @ 7.0% cap · market cap 6.96%
Theoretical Best
Multifamily LT 5
$33.15M
$29.01M – $38.67M
NOI $2,320,471 @ 7.0% cap · market cap 320.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Renovated 1902 Craftsman with flexible interior, covered patio, ample parking, and a detached 50' x 25' metal building.
Where is this office units located?
The property is located at 115 N 1 St Street Midlothian, TX.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Renovated 1902 Craftsman property updated in 2022 while preserving original character; Flexible interior space adaptable for office, retail, or bed & breakfast use; Recent improvements: new roof, all windows replaced, updated lighting, and plumbing fixtures
