Renovated Mixed-Use
For Sale
$599,000
118 W Grand St, Whitewright, TX 75491
Historic two-level property pairs lower commercial space with an upper residential loft and flexible conversion potential.
Property Size3,550 SF
Price / SF$168.73
Days on Market41
Property Features for 118 W Grand St
General Information
Standard status
Active
Size
3,550 SF
Building Details
Year Built
1908
Listing Agency:
OnDemand Realty
(512) 771-2684
Listed By:
Rhonda Borgne · License #0560610
Source:
Heritance
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 25 at 4:50AM
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
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.
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 = 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
$35,145
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
5.87%
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%
$702,900
$702.9K
Cap Rate 7%
$502,071
$502.1K
Cap Rate 9%
$390,500
$390.5K
Market Conditions
NOI Build-Up for 3,550 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
$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 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%
$702,900
Cap Rate 7%
$502,071
Cap Rate 9%
$390,500
Alternative Uses
Best Use
Retail
$841.8K
$736.6K – $982.1K
NOI $58,924 @ 7.0% cap · market cap 9.84%
Second Best
Mixed Use
$502.1K
$439.3K – $585.8K
NOI $35,145 @ 7.0% cap · market cap 5.87%
Theoretical Best
Hotel Hospitality
$1.82M
$1.59M – $2.12M
NOI $127,481 @ 7.0% cap · market cap 21.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
