Renovated 4-Unit Mixed-Use
For Sale
$1,300,000
121-125 Lamar Ave, Paris, TX 75460
Historic character, updated interiors, and a combination of leased retail and residential loft space.
Property Size7,126 SF
Price / SF$182.43
Days on Market51
Property Features for 121-125 Lamar Ave
General Information
Standard status
Active
Size
7,126 SF
Amenities
soaring ceilings
exposed beams
hardwood floors
designer kitchens
open-concept living areas
Building Details
Year Built
1920
Year Renovated
2024
Tenancy
Multi
Listing Agency:
Real Broker, LLC
(903) 785-6427
Listed By:
SHERRIE WHITE · License #0414339
Source:
Heritance
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 28 at 1:09PM
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 Real Broker, LLC
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.
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 = 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
$118,280
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
9.10%
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%
$2,365,600
$2.4M
Cap Rate 7%
$1,689,714
$1.7M
Cap Rate 9%
$1,314,222
$1.3M
Market Conditions
NOI Build-Up for 7,126 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
$177.9K $24.96/SF
− Vacancy
−$8.9K −$1.25/SF
EGI
$169.0K $23.71/SF
− OpEx
−$50.7K −$7.11/SF
NOI
$118.3K $16.60/SF
Area
Lamar County, TX
Vacancy
5.00%
Lease Rate
$24.96 /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%
$2,365,600
Cap Rate 7%
$1,689,714
Cap Rate 9%
$1,314,222
Alternative Uses
Best Use
Retail
$1.69M
$1.48M – $1.97M
NOI $118,280 @ 7.0% cap · market cap 9.10%
Second Best
Mixed Use
$878.0K
$768.3K – $1.02M
NOI $61,462 @ 7.0% cap · market cap 4.73%
Theoretical Best
Hotel Hospitality
$5.37M
$4.70M – $6.26M
NOI $375,718 @ 7.0% cap · market cap 28.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 Ave Paris, TX.
What is the asking price?
The asking price for this property is $1,300,000.
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
