Building Details

Year Renovated 2024

Tenancy Multi

Listing Agency: Real Broker, LLC Show Phone

Listed By: SHERRIE WHITE · License #0414339 Show Phone

Source: Diligentcre

Added: Jul 10 Changed: Oct 5 Last Checked: Oct 12 at 8:20PM

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Investment Insights

Based on property information with market context.

Built in 1920, this 7,126-square-foot mixed-use property combines street-facing commercial space with residential accommodations above. The building contains four income-producing units: two ground-level retail spaces leased to established businesses and two second-floor lofts that can support long-term or short-term residential rental use.

Renovation work completed between 2023 and 2024 retains historic elements while introducing updated finishes and layouts. Interior features include high ceilings, exposed beams, hardwood flooring, designer kitchens, and open-concept living areas. The property is located at 121-125 Lamar Ave in historic downtown Paris, Texas.

Key Highlights

• 7,126 SF mixed‑use property built in 1920
• Four income‑producing units: two retail spaces and two second‑floor residential lofts
• Two street‑level commercial spaces currently leased to established businesses

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$61,462

Cap Rate

5.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,229,240 $1.2M

Cap Rate 7%

$878,029 $878.0K

Cap Rate 9%

$682,911 $682.9K

Market Conditions

NOI Build-Up for 7,126 SF

Gross rent

$106.9K $15.00/SF

− Vacancy

−$8.6K −$1.20/SF

EGI

$98.3K $13.80/SF

− OpEx

−$36.9K −$5.18/SF

NOI

$61.5K $8.63/SF

Area

Lamar County, TX

Vacancy

8.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,229,240

Cap Rate 7%

$878,029

Cap Rate 9%

$682,911

Alternative Uses

Best Use

Retail

$1.69M

$1.48M – $1.97M (±1% cap)

NOI $118,280 @ 7.0% cap · market cap 10.75%

Second Best

Mixed Use

$878.0K

$768.3K – $1.02M (±1% cap)

NOI $61,462 @ 7.0% cap · market cap 5.59%

Theoretical Best

Hotel Hospitality

$5.37M

$4.70M – $6.26M (±1% cap)

NOI $375,718 @ 7.0% cap · market cap 34.16%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Dental Office Big Box & Wholesale Store Kitchen & Bath Showroom Spa & Massage Center Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

823

Businesses Nearby

Explore this area Business Placement

Demographics for 75460, TX

22,925

Population

11,210

Households

2

Avg Household Size

38

Median Age

17%

College-Educated

88%

High-School Grad

101.9 sq mi

ZIP Area

225

Density / Sq Mi

$44,241

Median Household Income

$30,546

Median Earnings

$895

Median Rent

$123,300

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Historic character, updated interiors, and a combination of leased retail and residential loft space.

Where is this mixed-use property located?

The property is located at 121-125 Lamar Avenue Paris, TX.

What is the asking price?

The asking price for this property is $1,100,000.

What are key features of this property?

This property features: 7,126 SF mixed‑use property built in 1920; Four income‑producing units: two retail spaces and two second‑floor residential lofts; Two street‑level commercial spaces currently leased to established businesses