Renovated Four-Unit Mixed-Use
For Sale
$1,300,000
121-125 Lamar Avenue, Paris, TX 75460
CommercialSale, Paris, TX
Property Size7,126 SF
Lot Size0.08 Acres
Price / SF$182.43
Days on Market53
Property Features for 121-125 Lamar Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Parking features
On Street
Subdivision
City Of Paris
Lot features
Interior Lot, Historic District
Directions
NE Loop 286, E Lamar Avenue to Downtown Paris, 125 Lamar Ave.
Standard status
Active
APN
13690
Size
7,126 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
CITY OF PARIS, BLOCK 13, LOT 4A, ACRES .0821
Tax Annual Amount
9873
Legal Description
CITY OF PARIS, BLOCK 13, LOT 4A, ACRES .0821
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
soaring ceilings
exposed beams
stunning hardwood floors
designer kitchens
spacious open-concept living areas
Building Details
Year built
1920
Floors in Building
2
Number of units
3
Flooring type
Wood, Concrete
Building materials
Brick
Roof type
Flat
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
SHERRIE WHITE · License #0414339
(214) 202-7615
Added: Jul 8
Changed: Aug 22
Last Checked: Aug 29 at 3:06AM
MLS# 21313112
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 7126-square-foot mixed-use property contains four units arranged across two levels. The ground floor includes two street-facing retail spaces that are currently leased, while the second floor offers two residential lofts suitable for long-term or short-term rental use. Renovations completed between 2023 and 2024 introduced updated interiors while retaining features such as exposed beams, hardwood flooring, open living areas, and kitchens.
Built in 1920, the brick building is located on Lamar Avenue in downtown Paris. The property has a flat roof, central electric heating and cooling, public water and sewer service, and on-street parking. Concrete and wood flooring provide a mix of durable commercial and residential finishes.
Built in 1920, the brick building is located on Lamar Avenue in downtown Paris. The property has a flat roof, central electric heating and cooling, public water and sewer service, and on-street parking. Concrete and wood flooring provide a mix of durable commercial and residential finishes.
Key Highlights
- Four‑unit configuration with two street‑level retail spaces and two second‑floor residential lofts
- 7126 square feet in a brick building constructed in 1920
- Renovations completed between 2023 and 2024
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
931
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 - Historic downtown building combines leased retail space with residential loft units.
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: Four‑unit configuration with two street‑level retail spaces and two second‑floor residential lofts; 7126 square feet in a brick building constructed in 1920; Renovations completed between 2023 and 2024
