Renovated Historic Mixed-Use
For Sale
$599,000
118 W Grand Street, Whitewright, TX 75491
CommercialSale, Whitewright, TX
Property Size3,550 SF
Lot Size0.08 Acres
Price / SF$168.73
Days on Market48
Property Features for 118 W Grand Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Parking features
Alley, On Street
Subdivision
Otp Whitewright
Directions
Please see GPS
Standard status
Active
APN
171280
Size
3,550 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
OTP WHITEWRIGHT, BLOCK 15, LOT 24
Tax Annual Amount
2426
Legal Description
OTP WHITEWRIGHT, BLOCK 15, LOT 24
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Central, Natural Gas
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1908
Floors in Building
2
Number of units
2
Flooring type
Carpet, Hardwood, Laminate
Building materials
Brick, Stucco
Roof type
Flat
Listing Agency:
OnDemand Realty
(214) 766-5833
Listed By:
Rhonda Borgne · License #0560610
(214) 766-5833
Added: Jul 13
Changed: Aug 29
Last Checked: Aug 29 at 4:06AM
MLS# 21325940
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1908 and renovated, this brick-and-stucco property contains 3,550 square feet arranged with commercial space on the first level and a residential loft above. The upper level includes plumbing and natural-gas service for a kitchen, while existing finishes include hardwood, laminate, and carpet. Central air, heat-pump heating, and natural-gas heating serve the building.
The property occupies 0.082 acres in downtown Whitewright, with on-street and alley parking available. Public water and public sewer support the building. Residential zoning flexibility is identified, and the property has most recently been used as a residence.
The property occupies 0.082 acres in downtown Whitewright, with on-street and alley parking available. Public water and public sewer support the building. Residential zoning flexibility is identified, and the property has most recently been used as a residence.
Key Highlights
- 3,550‑square‑foot mixed‑use building on 0.082 acres
- Built in 1908 and fully renovated
- Commercial space below with residential loft above
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
Office B
$848.3K
$742.3K – $989.7K
NOI $59,381 @ 7.0% cap · market cap 9.91%
Second Best
Retail
$841.8K
$736.6K – $982.1K
NOI $58,924 @ 7.0% cap · market cap 9.84%
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level layout pairs ground-floor commercial space with an upper residential loft and residential zoning flexibility.
Where is this mixed-use property located?
The property is located at 118 W Grand Street 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 mixed‑use building on 0.082 acres; Built in 1908 and fully renovated; Commercial space below with residential loft above
