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    116 W Ave C Gregory, TX 78359

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    For Lease
    $950/Mo $19 SF/Yr (calc)

    COMMERCIAL - Gregory, TX

    Type:Office
    Property size:
    600 SF
    Lot size:
    0.19 Acres
    Added:
    May 4, 2026
    Days on Market:
    2
    Last Refresh:
    May 5 at 7:06 pm

    Property Features for 116 W Ave C

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Bathrooms
    1
    Rooms
    Bathroom 1
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    64491
    Size
    600 SF
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Description
    Unit 116 of HUNT ADDN BLK 15 SW PT 121X150 LOT J & W & N

    Utilities

    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1920
    Floors in Building
    1
    Flooring type
    Tile

    We can help!

    Listing Contact
    Brenton Reagan
    Brenton Reagan

    Listing agent Brenton Reagan License #0669077

    Listing office Cass Real Estate 401 US Hwy 181, Portland, TX

    Listing date May 4, 2026

    MLS# 475933

    Copyright © 2026 South Texas Multiple Listing Service, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Office Space in Gregory, TX

    This office space, encompassing approximately 950-1000 square feet, is located in the historic Ballroom building at the intersection of 4th Street and Avenue C, directly across from City Hall in Gregory, TX. The layout includes three distinct areas, all featuring tile flooring. There is a front office/reception/main room, a walled private office with a door, and a second walled private room that includes a restroom and a kitchenette with a sink and counter. The restroom is equipped with a sink and toilet. Previously utilized as a small office, the space is suitable for office work or small retail/consumer service businesses. The adjacent suite at 114 Ave. C is also available, and the connecting doorway, currently walled off, could be reopened. A lease term of 12 to 60 months is preferred but negotiable. There are no additional CAM (Common Area Maintenance) or NNN (Taxes, Insurance, Maintenance) fees associated with this property. However, the tenant is responsible for utilities, including water and electricity, as well as any other desired services such as internet or renter's insurance.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Auto Parts Store Furniture & Home Goods Car Rental Facility (Bike/Boat/Book/etc) Store Department Store Bar & Pub Electrical Service Big Box & Wholesale Store Skin Care Clinic Hair Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gregory
    County
    San Patricio
    State
    Texas
    Longitude
    -97.285
    Latitude
    27.9259

    Nearby Similar for Lease

    • $950/Mo

      Office Space in Gregory, TX

      Office/retail space in Gregory, TX, near City Hall.
      114 W Ave C, Gregory, TX 78359
      View Details
    • Contact for pricing

      Turnkey Storage Investment Opportunity

      Fully fenced storage facility with income and expansion potential.
      300 N Hwy 35 (South Side), Gregory, TX
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    FAQs

    What type of property is this?
    Office units - Tidy office space suitable for office or retail use.
    Where is this office units located?
    The property is located at 116 W Ave C Gregory, TX.
    What is the lease rate?
    The lease rate is $950 /Mo.
    What are key features of this property?
    This property features: Prime location: Corner of main highway (4th Street) and Ave C, across from City Hall.; No CAM or NNN fees: Tenant only responsible for utilities.; Flexible lease terms: 12‑60 month lease preferred, but negotiable.
    (512) 736-2695
    We can help!
    Listing Contact
    Brenton Reagan
    Brenton Reagan
    Real Estate License ID: 0669077
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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