Renovated Mixed-Use Retail and
For Sale
$1,300,000
121125 Lamar Avenue, Paris, TX 75460
Renovated mixed-use property with four income-producing units, including two street-level commercial spaces and two second-floor residential lofts.
Property Size7,126 SF
Price / SF$182.43
Days on Market57
Property Features for 121125 Lamar Avenue
General Information
Standard status
Active
Size
7,126 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$9,873
Amenities
Electric
3
Sidewalks. Curbs Walk, Asphalt.
Building Details
Year Built
1920
Year Renovated
2024
Tenancy
Multi
Listing Agency:
Real Broker, LLC
(713) 357-6492
Listed By:
SHERRIE WHITE · License #0414339
Source:
Xome
Added: Jun 17
Changed: Aug 12
Last Checked: Aug 12 at 3:58AM
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 features four income-producing units: two street-level retail/commercial spaces and two second-floor residential loft units. The renovations were completed between 2023 and 2024, combining historic character with modern design elements such as soaring ceilings, exposed beams, hardwood floors, and designer kitchens, along with spacious open-concept living areas.
Located at 1211 Lamar Avenue in historic downtown Paris, Texas, the building is positioned for ongoing commercial and residential rental use, with the retail units serving established businesses and the loft units suited for long-term rental or short-term vacation rental arrangements.
As a turnkey asset, the property provides multiple income streams under one ownership structure, supported by the current leasing of the two street-level spaces and the separate residential configuration on the second floor.
Located at 1211 Lamar Avenue in historic downtown Paris, Texas, the building is positioned for ongoing commercial and residential rental use, with the retail units serving established businesses and the loft units suited for long-term rental or short-term vacation rental arrangements.
As a turnkey asset, the property provides multiple income streams under one ownership structure, supported by the current leasing of the two street-level spaces and the separate residential configuration on the second floor.
Key Highlights
- Renovated mixed‑use property with four income‑producing units: two street‑level retail/1st‑floor commercial spaces and two second‑floor residential loft units.
- Two street‑level commercial spaces are currently leased to established businesses.
- Heating: electric system noted; year built is 1920 with extensive 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
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
27
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 - Renovated mixed-use property with four income-producing units, including two street-level commercial spaces and two second-floor residential lofts.
Where is this mixed-use property located?
The property is located at 121125 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 with four income‑producing units: two street‑level retail/1st‑floor commercial spaces and two second‑floor residential loft units.; Two street‑level commercial spaces are currently leased to established businesses.; Heating: electric system noted; year built is 1920 with extensive renovations completed between 2023 and 2024.
