Prime Location on South
For Sale
$299,000
1203 S Main Street, Weatherford, TX 76086
High-traffic location suitable for various business types.
Property Size1,090 SF
Lot Size0.10 Acres
Price / SF$274.31
Days on Market705
Property Features for 1203 S Main Street
General Information
Standard status
Active
Size
1,090 SF
Lot size
0.10 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1978
Listing Agency:
Exclusive Real Estate Services
(682) 225-7585
Listed By:
Marilyn Carter · License #0257944
(682) 225-7585
Source:
Exitrealty
Added: Sep 7, 2024
Changed: Aug 9
Last Checked: Apr 5 at 11:16PM
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 Exclusive Real Estate Services
Investment Insights
Based on property information with market context.
Located on South Main (Hwy 51), this property is situated across from Whataburger and HTeaO, and adjacent to the Weatherford 9th Grade Center and Rollin Ice Cream Store. The existing building, with a size of 1090 square feet, can be utilized or a new building can be constructed on the site. The property is suitable for a law office, insurance company, title company, real estate office, accountant, counseling service, boutique, or other service business, as it has been used for over 50 years. It features front door parking for 6 vehicles with easy access to South Main. Signage is grandfathered. The building structure, roof, and foundation are in good condition.
Key Highlights
- Prime location on busy So. Main (Hwy 51) with high traffic, across from Whataburger and HTeaO, next to Weatherford 9th Grade Center and Rollin Ice Cream.
- Suitable for various business types (Law Office, Insurance, Retail, etc.) with a 50+ year history as a business location.
- Opportunity to use the existing building or rebuild a new structure.
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
$17,539
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%
$350,780
$350.8K
Cap Rate 7%
$250,557
$250.6K
Cap Rate 9%
$194,878
$194.9K
Market Conditions
NOI Build-Up for 1,090 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
$26.3K $24.12/SF
− Vacancy
−$1.2K −$1.13/SF
EGI
$25.1K $22.99/SF
− OpEx
−$7.5K −$6.90/SF
NOI
$17.5K $16.09/SF
Area
Parker County, TX
Vacancy
4.70%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
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%
$350,780
Cap Rate 7%
$250,557
Cap Rate 9%
$194,878
Alternative Uses
Best Use
Retail
$250.6K
$219.2K – $292.3K
NOI $17,539 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$1.08M
$947.7K – $1.26M
NOI $75,816 @ 7.0% cap · market cap 25.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
882
Businesses Nearby
240k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Shops & Services 24%
Superstores 6%
Home Improvements & Furnishings 6%
RaceTrac
Shops & Services
39,174 visits/mo
0.5 miles
Braum's Ice Cream & Dairy Stores
Dining
25,828 visits/mo
0.3 miles
Whataburger
Dining
19,184 visits/mo
0.1 miles
SONIC Drive In
Dining
16,932 visits/mo
0.3 miles
Taco Casa
Dining
14,352 visits/mo
0.3 miles
Demographics for 76086, TX
21,429
Population
9,689
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
13.8 sq mi
ZIP Area
1,553
Density / Sq Mi
$61,415
Median Household Income
$38,347
Median Earnings
$1,389
Median Rent
$235,100
Median Home Value
Market
Vacancy Rate% for Retail 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?
Storefront property - High-traffic location suitable for various business types.
Where is this storefront property located?
The property is located at 1203 S Main Street Weatherford, TX.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Prime location on busy So. Main (Hwy 51) with high traffic, across from Whataburger and HTeaO, next to Weatherford 9th Grade Center and Rollin Ice Cream.; Suitable for various business types (Law Office, Insurance, Retail, etc.) with a 50+ year history as a business location.; Opportunity to use the existing building or rebuild a new structure.
