Brick Mixed-Use
For Sale
$279,000
118 W Woodard Street, Denison, TX 75021
CommercialSale, Denison, TX
Property Size2,500 SF
Lot Size0.07 Acres
Price / SF$111.60
Days on Market13
Property Features for 118 W Woodard Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Parking Lot
Subdivision
Otp Denison
Directions
Take N Hwy 75 towards Denison. Turn Right onto FM 120 E. Turn Right onto N Houston Ave. Turn Right onto W Woodard St. Building will be on the Left.
Standard status
Active
APN
459595
Size
2,500 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
OTP DENISON, BLOCK 46, LOT 10, ACRES 0.07
Tax Annual Amount
2878
Legal Description
OTP DENISON, BLOCK 46, LOT 10, ACRES 0.07
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Brick
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Sharles Edwards · License #0592642
(888) 519-7431
Added: Aug 9
Changed: Aug 21
Last Checked: Aug 21 at 8:06PM
MLS# 21275560
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.
This vacant mixed-use building contains 2,500 square feet within a brick structure built in 1960. The interior has an open layout and concrete flooring, offering a straightforward base for repositioning or occupancy. A dedicated parking lot serves the property, while public water and public sewer are in place.
The building is located at 118 W Woodard Street in downtown Denison, just off Main Street. Its setting places the property within a central commercial area with nearby public parking and ongoing redevelopment activity noted in the surrounding district.
The building is located at 118 W Woodard Street in downtown Denison, just off Main Street. Its setting places the property within a central commercial area with nearby public parking and ongoing redevelopment activity noted in the surrounding district.
Key Highlights
- 2,500‑square‑foot vacant mixed‑use building
- 0.07‑acre downtown Denison property at 118 W Woodard Street
- Brick construction completed in 1960
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
Mixed Use
$353.6K
$309.4K – $412.5K
NOI $24,750 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant commercial space with an open interior, concrete flooring, and public water and sewer service.
Where is this mixed-use property located?
The property is located at 118 W Woodard Street 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 mixed‑use building; 0.07‑acre downtown Denison property at 118 W Woodard Street; Brick construction completed in 1960
