Open-Layout Mixed-Use
For Sale
$279,000
118 W Woodard St, Denison, TX 75021
Vacant downtown building with an open interior and flexible commercial use potential.
Property Size2,500 SF
Price / SF$111.60
Days on Market101
Property Features for 118 W Woodard St
General Information
Standard status
Active
Size
2,500 SF
Taxes and HOA fees
Annual Taxes
$2,878
Listing Agency:
eXp Realty LLC
(214) 200-1961
Listed By:
Sharles Edwards · License #0592642
(214) 200-1961
Source:
Exprealty
Added: May 24
Changed: Aug 31
Last Checked: Aug 30 at 8:35PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This vacant mixed-use building at 118 W Woodard St offers an open interior configuration within a 2,500-square-foot commercial property. Built in 1960, the building can accommodate a range of concepts identified for the site, including retail, office, restaurant, showroom, studio, or other mixed-use applications.
The property is situated in Downtown Denison, just off Main Street, with nearby public parking. Its central setting places the building within an area described as experiencing new business activity, restaurant openings, foot traffic, and redevelopment.
The property is situated in Downtown Denison, just off Main Street, with nearby public parking. Its central setting places the building within an area described as experiencing new business activity, restaurant openings, foot traffic, and redevelopment.
Key Highlights
- 2,500‑square‑foot vacant commercial building
- Open interior layout suitable for flexible commercial concepts
- Downtown Denison location at 118 W Woodard St
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
$24,750
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
8.87%
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%
$495,000
$495.0K
Cap Rate 7%
$353,571
$353.6K
Cap Rate 9%
$275,000
$275.0K
Market Conditions
NOI Build-Up for 2,500 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
$45.0K $18.00/SF
− Vacancy
−$5.4K −$2.16/SF
EGI
$39.6K $15.84/SF
− OpEx
−$14.9K −$5.94/SF
NOI
$24.8K $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%
$495,000
Cap Rate 7%
$353,571
Cap Rate 9%
$275,000
Alternative Uses
Best Use
Retail
$592.8K
$518.7K – $691.6K
NOI $41,496 @ 7.0% cap · market cap 14.87%
Second Best
Mixed Use
$353.6K
$309.4K – $412.5K
NOI $24,750 @ 7.0% cap · market cap 8.87%
Theoretical Best
Hotel Hospitality
$1.28M
$1.12M – $1.50M
NOI $89,775 @ 7.0% cap · market cap 32.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
783
Businesses Nearby
Explore this area
Business Placement
Demographics for 75021, TX
8,288
Population
3,871
Households
2.1
Avg Household Size
44
Median Age
17%
College-Educated
90%
High-School Grad
58.4 sq mi
ZIP Area
142
Density / Sq Mi
$67,159
Median Household Income
$36,955
Median Earnings
$900
Median Rent
$188,600
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 - Vacant downtown building with an open interior and flexible commercial use potential.
Where is this mixed-use property located?
The property is located at 118 W Woodard St Denison, TX.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: 2,500‑square‑foot vacant commercial building; Open interior layout suitable for flexible commercial concepts; Downtown Denison location at 118 W Woodard St
