Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1210 S Fm 51 Decatur, TX 76234

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $6,500/Mo $65 SF/Yr (calc)

    Former gas station and convenience store in Decatur, Texas.

    Property size:
    1,186 SF
    Added:
    Apr 22, 2026
    Days on Market:
    6
    Last Refresh:
    Apr 22 at 5:56 pm

    Property Features for 1210 S Fm 51

    General Information

    Standard status
    Active
    Size
    1,186 SF

    Building Details

    Year Built
    1998

    We can help!

    Listing Contact
    Jared Lucier

    Listing agent Jared Lucier

    Listing office Parker Properties Real Estate

    Listing date Apr 22, 2026

    Source Signaturere

    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 Parker Properties Real Estate

    Overview

    Decatur Commercial Location For Lease

    Located on FM 51 South in Decatur, Texas, this 1,186-square-foot property was formerly a gas station and convenience store. Situated on a major thoroughfare, the location offers proximity to anchor stores such as Wal-Mart, Tractor Supply, O'Reilly Auto Parts, and Dollar General, as well as restaurants including Wendy's, Sonic, Burger King, and Cicis. The property is positioned on a highly traveled roadway that connects to US Highway 287. The tanks have been removed from the ground, and the awning is no longer in place. The owner is open to leasing the building and lot, or considering options for a ground lease.
    Location Intelligence

    Current Use by Public Records

    Gas stations

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    Wise
    State
    Texas
    Longitude
    -97.593816
    Latitude
    33.227231

    Nearby Similar for Lease

    • $8,947/Mo

      Decatur Medical Office For Lease

      Medical office space available near Medical City Decatur.
      2014 Ben Merritt Drive, Decatur, TX 76234
      View Details
    • $6,500/Mo

      Decatur Retail Opportunity on FM 51

      Former gas station and convenience store available for lease.
      1210 S Fm 51, Decatur, TX 76234
      View Details
    • $3,149/Mo

      Decatur Office Space For Lease

      New commercial office space in Decatur, ready for build out.
      900 W Thompson Street, Decatur, TX 76234
      View Details
    • $2,000/Mo

      Decatur Commercial Strip Center For Lease

      Commercial strip center with high visibility road frontage in Decatur, TX.
      3691 S FM 51, Decatur, TX 76234
      View Details
    • $2,375/Mo

      High-Visibility Business Park Office Space

      Adaptable commercial space in high-traffic area, ideal for diverse businesses.
      220 West Side Drive, Decatur, TX 76234
      View Details
    • $1,450/Mo

      Decatur Office and Warehouse Suite

      High-visibility flex space with office and warehouse components for lease.
      220 West Side Drive, Decatur, TX 76234
      View Details
    • $1,875/Mo

      Highway 380 Development in Decatur

      New industrial, warehouse, retail, and medical spaces for lease.
      143 Mercy Land BUS 380, Decatur, TX 76234
      View Details
    • $1,800/Mo

      Decatur Warehouse with Office Space

      Commercial space with easy highway access and office build-out.
      108 PR 4213, Decatur, TX 76234
      View Details
    • $9,125/Mo

      office-properties

      2141 Highway 287 N, Decatur, TX 76234
      View Details
    • $1,500/Mo

      Highway 380 Retail Development

      New development on Highway 380 in Wise County, TX.
      139 Royal Circle BUS 380, Decatur, TX 76234
      View Details
    • $5,900/Mo

      Decatur Commercial Space For Lease

      Commercial lease space with office and shop areas in Decatur.
      501 S Business 287, Decatur, TX 76234
      View Details
    • $2,250/Mo

      Highway 380 Business Park Suites

      Industrial/office suites in Decatur, TX, with highway visibility.
      4338 Us-380, Decatur, TX 76234
      View Details

    FAQs

    What type of property is this?
    Gas station - Former gas station and convenience store in Decatur, Texas.
    Where is this gas station located?
    The property is located at 1210 S Fm 51 Decatur, TX.
    What is the lease rate?
    The lease rate is $6,500 /Mo.
    What are key features of this property?
    This property features: High‑traffic location on FM 51 South, connecting to US Highway 287.; Close proximity to anchor stores like Wal‑Mart and Tractor Supply.; Located near numerous restaurants.
    We can help!
    Listing Contact
    Jared Lucier
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!