Mixed-Use Building with Retail
For Sale
$1,300,000
121-125 Lamar Avenue, Paris, TX 75460
Renovated mixed-use property with two leased street-level retail spaces and two second-floor residential lofts.
Property Size7,339 SF
Price / SF$177.14
Days on Market19
Property Features for 121-125 Lamar Avenue
General Information
Standard status
Active
Size
7,339 SF
Property subtype
Commercial
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Real Broker, LLC
(903) 517-3311
Listed By:
SHERRIE WHITE · License #0414339
(903) 517-3311
Source:
Signaturere
Added: Jul 21
Changed: Jul 22
Last Checked: Aug 7 at 9:56AM
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.
This renovated mixed-use property comprises four income-producing units: two street-level retail/commercial spaces currently leased to established businesses, and two second-floor residential lofts. Renovations completed between 2023 and 2024 blend historic character with modern design, with features including soaring ceilings, exposed beams, hardwood floors, and designer kitchens, alongside spacious open-concept living areas.
Located at 121-125 Lamar Avenue in Paris, Texas, the building’s structure supports both retail presence at street level and residential rental use on the second floor, offering flexible occupancy options across its two distinct unit types. The property is presented as a turnkey investment opportunity, with the owner represented as a licensed Texas REALTOR®.
Located at 121-125 Lamar Avenue in Paris, Texas, the building’s structure supports both retail presence at street level and residential rental use on the second floor, offering flexible occupancy options across its two distinct unit types. The property is presented as a turnkey investment opportunity, with the owner represented as a licensed Texas REALTOR®.
Key Highlights
- Renovated mixed‑use property built in 1920 with four income‑producing units
- Two street‑level retail/commercial spaces currently leased to established businesses
- Two second‑floor residential lofts for long‑term rentals or short‑term vacation rentals (Airbnb)
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
$63,299
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
4.87%
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%
$1,265,980
$1.3M
Cap Rate 7%
$904,271
$904.3K
Cap Rate 9%
$703,322
$703.3K
Market Conditions
NOI Build-Up for 7,339 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
$110.1K $15.00/SF
− Vacancy
−$8.8K −$1.20/SF
EGI
$101.3K $13.80/SF
− OpEx
−$38.0K −$5.18/SF
NOI
$63.3K $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 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%
$1,265,980
Cap Rate 7%
$904,271
Cap Rate 9%
$703,322
Alternative Uses
Best Use
Retail
$1.74M
$1.52M – $2.03M
NOI $121,816 @ 7.0% cap · market cap 9.37%
Second Best
Mixed Use
$904.3K
$791.2K – $1.05M
NOI $63,299 @ 7.0% cap · market cap 4.87%
Theoretical Best
Hotel Hospitality
$5.53M
$4.84M – $6.45M
NOI $386,949 @ 7.0% cap · market cap 29.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,002
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated mixed-use property with two leased street-level retail spaces and two second-floor residential lofts.
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 $1,300,000.
What are key features of this property?
This property features: Renovated mixed‑use property built in 1920 with four income‑producing units; Two street‑level retail/commercial spaces currently leased to established businesses; Two second‑floor residential lofts for long‑term rentals or short‑term vacation rentals (Airbnb)
