Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Commercial Space For Rent Title is generated by Realmo AI

    3215 W Oak Street, Palestine, TX 75801

    View on Map
    Claim this Listing
    For Lease
    $3,500/Mo $1.24 SF/Yr (calc)

    33,000+ sqft commercial building with highway frontage and ample parking.

    Type:Rental
    Property size:
    33,900 SF
    Lot size:
    3.34 Acres
    Added:
    Aug 16, 2024
    Days on Market:
    656
    Last Refresh:
    May 19 at 9:07 pm

    Property Features for 3215 W Oak Street

    General Information

    Standard status
    Active
    Size
    33,900 SF
    Lot size
    3.34 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    Dana Staples
    Dana Staples

    Listing agent Dana Staples License #9011725

    Listing office Staples Commercial Group, LLC

    Listing date Aug 16, 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 Staples Commercial Group, LLC

    HighLights

    • Excellent visibility and accessibility on a major US Highway, just south of Loop 256.
    • Flexible rental spaces suitable for companies and individuals, with customization options.
    • Ample parking on a 3.342‑acre tract.
    • 495 feet of US Highway frontage.
    • Landlord open to build‑to‑suit options.
    • Impressive 33,000+ square foot building.

    Overview

    This commercial building offers over 33,000 square feet of flexible rental spaces suitable for companies and individuals. Some units are currently available, while others are ready for customization. The property is situated on a major US Highway just south of Loop 256, offering excellent visibility and accessibility. It features ample parking on its 3.342-acre tract and has 495 feet of US Highway frontage. The landlord is open to discussing build-to-suit options.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sikes Jan L ... Physician East Texas Internal ... Medical Clinic Tarun Ricardo D ... Physician

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Palestine
    County
    Anderson
    State
    Texas
    Longitude
    -95.6650576
    Latitude
    31.7377682

    Nearby Similar for Lease

    • $2,448/Mo
      3,060 SF

      Palestine Flex Space For Lease

      3060 SF flex space available for lease in Palestine.
      5424 W Oak Street, Palestine, TX 75801
      View Details
    • $6,800/Mo
      13,800 SF

      Palestine Office/Warehouse Space Available

      Large office and warehouse space with truck access in Palestine.
      2500 Tile Factory, Palestine, TX 75801
      View Details
    • $2,246/Mo
      2,450 SF

      Office Space in Palestine Town

      2,450 SF office space for lease in Palestine, TX.
      321 E Spring St Ste 121, Palestine, TX 75801
      View Details
    • $6,800/Mo
      13,800 SF

      Palestine Office and Warehouse Space

      Large office and warehouse space with semi-truck access.
      2005 Tile Factory Road, Palestine, TX 75801
      View Details
    • $4,950/Mo
      3,740 SF

      Updated Office Building with Storage

      Move-in ready office space with ample storage and parking.
      901 N Mallard Street, Palestine, TX 75801
      View Details
    • $2,246/Mo
      2,450 SF

      Office Space in Palestine Town

      2,450 SF office space for lease near Kroger.
      321 E Spring Street #121, Palestine, TX 75801
      View Details
    • $2,295/Mo
      3,060 SF

      Versatile Flex Space on Highway

      3060 SF flex space with high visibility and accessibility.
      5424 W Oak Street, Palestine, TX 75801
      View Details
    • $2,045/Mo
      1,363 SF

      Retail Space Near Loop 256

      Retail space available near Loop 256 and Academy Sports.
      2212 Crockett Road, Palestine, TX 75801
      View Details
    • Contact for pricing
      4,400 SF

      Retail Space Available For Lease

      Retail space available for lease, totaling 4,400 square feet.
      2117 S Loop 256, Palestine, TX 75801
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space For Rent

      2000 sqft retail space available for rent.
      2213 S Loop 256, Palestine, TX 75801
      View Details

    FAQs

    What type of property is this?
    Office building - 33,000+ sqft commercial building with highway frontage and ample parking.
    Where is this office building located?
    The property is located at 3215 W Oak Street Palestine, TX.
    What is the lease rate?
    The lease rate is $3,500 /Mo.
    What are key features of this property?
    This property features: Excellent visibility and accessibility on a major US Highway, just south of Loop 256.; Flexible rental spaces suitable for companies and individuals, with customization options.; Ample parking on a 3.342‑acre tract.
    (903) 924-2477
    We can help!
    Listing Contact
    Dana Staples
    Dana Staples
    Real Estate License ID: 9011725
    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
    3215 W Oak Street, Palestine, TX 75801
    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!