Downtown Athens Commercial
For Sale
$549,000
209 S Palestine St, Athens, TX 75751
Versatile commercial building in downtown Athens with showroom and warehouse.
Property Size9,100 SF
Lot Size0.58 Acres
Price / SF$60.33
Days on Market494
Property Features for 209 S Palestine St
General Information
Standard status
Active
Size
9,100 SF
Lot size
0.58 Acres
Taxes and HOA fees
Annual Taxes
$7,726
Listing Agency:
Keller Williams Rockwall
(972) 772-7000
Listed By:
Bradford Rummel · License #0422393
(972) 772-7000
Source:
Exprealty
Added: Apr 4, 2025
Changed: Aug 8
Last Checked: Jul 15 at 8:27PM
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 Keller Williams Rockwall
Investment Insights
Based on property information with market context.
Located in downtown Athens, this commercial building offers 9,100 square feet of space suitable for various business ventures. The property includes 4,500 square feet of showroom and office space, ideal for customer-facing operations or professional offices. Additionally, there is a 4,600-square-foot warehouse and shop area, providing spacious and functional space for storage, production, or distribution. The building also features floored upstairs storage space with a lift for easy access. The property's versatility makes it suitable for retail, service, or industrial use.
Key Highlights
- Prime downtown Athens location with high visibility.
- 9,100 SF total space suitable for various business types.
- 4,500 SF showroom & office space ideal for customer‑facing operations.**
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
$47,249
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
8.61%
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%
$944,980
$945.0K
Cap Rate 7%
$674,986
$675.0K
Cap Rate 9%
$524,989
$525.0K
Market Conditions
NOI Build-Up for 9,100 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
$74.3K $8.16/SF
− Vacancy
−$6.8K −$0.74/SF
EGI
$67.5K $7.42/SF
− OpEx
−$20.2K −$2.23/SF
NOI
$47.2K $5.19/SF
Area
Henderson County, TX
Vacancy
9.10%
Lease Rate
$8.16 /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%
$944,980
Cap Rate 7%
$674,986
Cap Rate 9%
$524,989
Alternative Uses
Best Use
Office B
$2.17M
$1.90M – $2.54M
NOI $152,216 @ 7.0% cap · market cap 27.73%
Second Best
Retail
$1.78M
$1.56M – $2.08M
NOI $124,846 @ 7.0% cap · market cap 22.74%
Theoretical Best
Office A
$3.20M
$2.80M – $3.73M
NOI $224,078 @ 7.0% cap · market cap 40.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Explore this area
Business Placement
Demographics for 75751, TX
17,100
Population
7,432
Households
2.3
Avg Household Size
39
Median Age
20%
College-Educated
85%
High-School Grad
180.4 sq mi
ZIP Area
95
Density / Sq Mi
$71,524
Median Household Income
$31,897
Median Earnings
$1,063
Median Rent
$205,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile commercial building in downtown Athens with showroom and warehouse.
Where is this mixed-use property located?
The property is located at 209 S Palestine St Athens, TX.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Prime downtown Athens location with high visibility.; 9,100 SF total space suitable for various business types.; 4,500 SF showroom & office space ideal for customer‑facing operations.**
