Main Street Flex
For Sale
$299,900
118 Main Street, Forney, TX 75126
Versatile commercial building with office, warehouse, retail, breakroom, and restroom areas near historic downtown.
Property Size4,500 SF
Price / SF$66.64
Days on Market15
Property Features for 118 Main Street
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$4,344
Amenities
Electric
3
Building Details
Year Built
1984
Listing Agency:
Riter Group
(214) 546-3603
Listed By:
Nan Riter · License #0319907
(214) 546-3603
Source:
Xome
Added: Jul 28
Changed: Aug 11
Last Checked: Aug 11 at 5:13AM
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 Riter Group
Investment Insights
Based on property information with market context.
This 4,500 SF flex property at 118 Main Street combines a finished brick-and-metal building with several functional commercial areas. The interior includes space configured for offices, storage or warehouse operations, light industrial activity, front retail, a breakroom, and employee and visitor restrooms. The property was built in 1984.
The site has a rectangular shape and frontage along Main Street, with room that can support on-site parking. Its Forney setting places the building near historic downtown, where the surrounding area includes light shopping, dining, and seasonal events. Any proposed business use remains subject to City approval.
The site has a rectangular shape and frontage along Main Street, with room that can support on-site parking. Its Forney setting places the building near historic downtown, where the surrounding area includes light shopping, dining, and seasonal events. Any proposed business use remains subject to City approval.
Key Highlights
- 4,500 SF flex property at 118 Main Street
- Finished brick‑and‑metal commercial building built in 1984
- Interior areas for office, storage‑warehouse, light industrial, and front retail uses
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
$22,365
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
7.46%
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%
$447,300
$447.3K
Cap Rate 7%
$319,500
$319.5K
Cap Rate 9%
$248,500
$248.5K
Market Conditions
NOI Build-Up for 4,500 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
$36.2K $8.04/SF
− Vacancy
−$1.8K −$0.39/SF
EGI
$34.4K $7.65/SF
− OpEx
−$12.0K −$2.68/SF
NOI
$22.4K $4.97/SF
Area
Kaufman County, TX
Vacancy
4.90%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
35.00%
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%
$447,300
Cap Rate 7%
$319,500
Cap Rate 9%
$248,500
Alternative Uses
Best Use
Office B
$1.11M
$968.1K – $1.29M
NOI $77,449 @ 7.0% cap · market cap 25.82%
Second Best
Warehouse
$447.0K
$391.2K – $521.5K
NOI $31,292 @ 7.0% cap · market cap 10.43%
Theoretical Best
Multifamily LT 5
$56.63M
$49.56M – $66.07M
NOI $3,964,417 @ 7.0% cap · market cap 1,321.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
332
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 75126, TX
64,573
Population
24,316
Households
2.7
Avg Household Size
32
Median Age
36%
College-Educated
92%
High-School Grad
81.6 sq mi
ZIP Area
791
Density / Sq Mi
$104,001
Median Household Income
$55,453
Median Earnings
$1,930
Median Rent
$337,200
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?
Flex space - Versatile commercial building with office, warehouse, retail, breakroom, and restroom areas near historic downtown.
Where is this flex space located?
The property is located at 118 Main Street Forney, TX.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 4,500 SF flex property at 118 Main Street; Finished brick‑and‑metal commercial building built in 1984; Interior areas for office, storage‑warehouse, light industrial, and front retail uses
