Building Details

Year Built 1908

Listing Agency: OnDemand Realty

Listed By: Rhonda Borgne · License #0560610 Show Phone

Source: Heritance

Added: Jul 20 Changed: Oct 10 Last Checked: Oct 7 at 1:27PM

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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 OnDemand Realty

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Investment Insights

Based on property information with market context.

This 3,550-square-foot historic building has been fully renovated and carefully maintained. The layout includes commercial space on the ground level and a residential loft above; the property has most recently been used as a residence. Zoning allows residential use, supporting a mixed-use configuration.

The second floor retains classic loft character and includes plumbing and gas connections for a kitchen. The lower level can be adapted for retail, office, salon, restaurant, winery, or bar use, while the overall arrangement also supports boutique retail, hospitality, or short-term rental applications.

Key Highlights

• 3,550‑square‑foot fully renovated historic building
• Commercial space below with residential loft above
• Second‑level loft includes plumbing and gas for a kitchen

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,145

Cap Rate

5.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$702,900 $702.9K

Cap Rate 7%

$502,071 $502.1K

Cap Rate 9%

$390,500 $390.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,550 SF

Gross rent

$63.9K $18.00/SF

− Vacancy

−$7.7K −$2.16/SF

EGI

$56.2K $15.84/SF

− OpEx

−$21.1K −$5.94/SF

NOI

$35.1K $9.90/SF

Area

Grayson County, TX

Vacancy

12.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$702,900

Cap Rate 7%

$502,071

Cap Rate 9%

$390,500

Alternative Uses

Best Use

Retail

$841.8K

$736.6K – $982.1K (±1% cap)

NOI $58,924 @ 7.0% cap · market cap 9.84%

Second Best

Mixed Use

$502.1K

$439.3K – $585.8K (±1% cap)

NOI $35,145 @ 7.0% cap · market cap 5.87%

Theoretical Best

Hotel Hospitality

$1.82M

$1.59M – $2.12M (±1% cap)

NOI $127,481 @ 7.0% cap · market cap 21.28%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Ken Hubbard Management ... Business Management Consultant

Suggested Use

Top Pick Big Box & Wholesale Store Building Supply Storage Facility Grocery & Convenience Store Garden Center Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

125

Businesses Nearby

Explore this area Business Placement

Demographics for 75491, TX

5,148

Population

2,353

Households

2.2

Avg Household Size

43

Median Age

26%

College-Educated

91%

High-School Grad

98.6 sq mi

ZIP Area

52

Density / Sq Mi

$71,774

Median Household Income

$48,813

Median Earnings

$881

Median Rent

$239,700

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Historic two-level property pairs lower commercial space with an upper residential loft and flexible conversion potential.

Where is this mixed-use property located?

The property is located at 118 W Grand St Whitewright, TX.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: 3,550‑square‑foot fully renovated historic building; Commercial space below with residential loft above; Second‑level loft includes plumbing and gas for a kitchen