Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Downtown Hillsboro Retail/Office Space Title is generated by Realmo AI

    56 W Elm Street, Hillsboro, TX 76645

    View on Map
    Claim this Listing
    For Lease
    $1,250/Mo $6 SF/Yr (calc)

    Prime retail or office space in vibrant downtown Hillsboro.

    Type:Rental
    Property size:
    2,375 SF
    Lot size:
    0.05 Acres
    Added:
    Oct 2, 2024
    Days on Market:
    608
    Last Refresh:
    May 20 at 2:38 am

    Property Features for 56 W Elm Street

    General Information

    Standard status
    Active
    Size
    2,375 SF
    Lot size
    0.05 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    1945

    We can help!

    Listing Contact
    Jamie Siddons
    Jamie Siddons

    Listing agent Jamie Siddons License #0443689

    Listing office JULIE SIDDONS REALTORS, LLC

    Listing date Oct 2, 2024

    Source Exitrealty

    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 JULIE SIDDONS REALTORS, LLC

    HighLights

    • Prime Downtown Hillsboro location.
    • 2,375 sq ft of flexible retail or office space.
    • High visibility and high foot traffic.
    • Large windows providing natural light.
    • Convenient access to amenities.
    • Built in 1945.

    Overview

    This property offers 2,375 square feet of retail or office space, available now in downtown Hillsboro. The space features a flexible layout and large windows that provide natural light. The property benefits from high visibility and is situated in a vibrant area characterized by high foot traffic and convenient access to amenities. This location is suitable for businesses seeking prominence and accessibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Hillsboro
    County
    Hill
    State
    Texas
    Longitude
    -97.13036
    Latitude
    32.01046

    Nearby Similar for Lease

    • $1,600/Mo

      Downtown Hillsboro Commercial Property For Rent

      Remodeled commercial property in downtown Hillsboro, suitable for various businesses.
      231 E Elm Street, Hillsboro, TX 76645
      View Details
    • $1,300/Mo

      Downtown Hillsboro Retail Space

      Prime retail location in the heart of Downtown Hillsboro.
      75 N Waco Street, Hillsboro, TX 76645
      View Details
    • $6 SF/Yr
      13,029 SF

      Hillsboro Warehouse Ready for Build-Out

      13,029 SF warehouse in downtown Hillsboro, Texas.
      125 S Waco Street, Hillsboro, TX 76645
      View Details
    • $750/Mo

      Modern Office Spaces for Lease

      Updated office spaces with shared amenities and utilities included.
      71 N Waco Street, Hillsboro, TX 76645
      View Details
    • $6 SF/Yr
      13,029 SF

      Downtown Hillsboro Building For Lease

      13,029 SF building in downtown Hillsboro, Texas.
      125 S Waco Street, Hillsboro, TX 76645
      View Details
    • $1,600/Mo
      1,000 SF

      Downtown Hillsboro Commercial Property For Rent

      Prime commercial property in downtown Hillsboro, suitable for various businesses.
      231 E Elm Street, Hillsboro, TX 76645
      View Details
    • $1,300/Mo
      1,400 SF

      Downtown Hillsboro Retail Space Available

      Prime location in downtown Hillsboro with high visibility and foot traffic.
      75 N Waco Street, Hillsboro, TX 76645
      View Details
    • $750/Mo
      2,700 SF

      Modern Office Spaces for Lease

      Updated office building with shared amenities and utilities included.
      71 N Waco Street, Hillsboro, TX 76645
      View Details
    • Contact for pricing
      7,958 SF

      Commercial Space in Hillsboro, Texas

      7958 sqft commercial space available for rent in Hillsboro.
      226 S Waco Street, Hillsboro, TX 76645
      View Details
    • $8 SF/Yr
      24,565 SF

      Retail Space Available For Lease

      24,565 square foot retail property for lease.
      1320 Corsicana Hwy, Hillsboro, TX
      View Details
    • Contact for pricing
      45,000 SF

      Renovated Industrial Space Near IH-35

      45,000 SF industrial space for lease near IH-35.
      1637 State Hwy 77, Hillsboro, TX
      View Details
    • $5 SF/Yr
      32,074 SF

      Renovated Industrial Space For Lease

      Industrial spaces available for lease near IH-35 and HWY 81.
      1450 N State Hwy 77, Hillsboro, TX 76645
      View Details

    FAQs

    What type of property is this?
    Retail space - Prime retail or office space in vibrant downtown Hillsboro.
    Where is this retail space located?
    The property is located at 56 W Elm Street Hillsboro, TX.
    What is the lease rate?
    The lease rate is $1,250 /Mo.
    What are key features of this property?
    This property features: Prime Downtown Hillsboro location.; **2,375 sq ft of flexible retail or office space.**; **High visibility and high foot traffic.**
    (254) 337-0217
    We can help!
    Listing Contact
    Jamie Siddons
    Jamie Siddons
    Real Estate License ID: 0443689
    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

    Thank You for Inquiry
    56 W Elm Street, Hillsboro, TX 76645
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!