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

    510 S Mirick Ave Denison, TX 75020

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $3,500 /Mo ($2 SF/Yr)

    Versatile warehouse with offices in high-growth Grayson County.

    Property size:
    16,880 SF
    Lot size:
    1.87 Acres

    Property Features for 510 S Mirick Ave

    General Information

    Standard status
    Active
    Size
    16,880 SF
    Lot size
    1.87 Acres

    Building Details

    Year built
    1985

    We can help!

    Listing Contact
    Tommi Sue Homuth
    Tommi Sue Homuth
    Source: Exitrealty

    Listing Agency: Tracy Realty Listing Agent: Tommi Sue Homuth

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Distribution Warehouse with Office Space

    Located in the rapidly expanding Grayson County, this property presents a business opportunity within the high-growth corridor between Sherman and Denison, offering convenient access to major highways. Previously used as a distribution warehouse, the 16,880-square-foot property features multiple office spaces, a break room, restrooms, and conference rooms. The layout is designed to be flexible. The rear area includes several dock doors, additional storage, and a workshop space. This property is suitable for a company seeking to establish a presence in the area.
    Location Intelligence

    Current Use by Public Records

    Home solar of Denison Solar Energy Company

    Suggested Use

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

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

    Similar Places Nearby

    A-Alpha Self Storage, AAA Storage

    Location Insight

    • Map
    • Local Demand
    City
    Denison
    County
    Grayson
    State
    Texas
    Longitude
    -96.542774
    Latitude
    33.760248

    Nearby Similar for Lease

    • New
      $3,150 /Mo
      26,136 SF

      Denison Flex Space For Lease

      Versatile flex space near Hwy 75 in growing Denison market.
      4737 N State Highway 91, Denison, TX 75020
      View Details
    • $12 SF/Yr
      49,441 SF

      New Retail & Warehouse Flex Suites

      New commercial development with flexible suites for lease in Denison.
      3015 Loy Lake Rd, Denison, TX 75020
      View Details
    • $10 SF/Yr
      30,013 SF

      Versatile Rental Spaces Available

      Adaptable rental spaces perfect for offices, classrooms, and community organizations.
      213 N Burnett Ave, Denison, TX 75020
      View Details
    • $1,500 /Mo
      6,490 SF

      Denison Office Space For Rent

      Move-in ready office space in Denison, TX with parking.
      1110 S Armstrong Ave, Denison, TX 75020
      View Details
    • $1,600 /Mo
      2,962 SF

      Historic Main Street Retail Space

      Charming retail space in Denison's growing Central Business District.
      428 W Main St, Denison, TX 75020
      View Details
    • $3,500 /Mo
      125,017 SF

      Denison Office with Natural Light

      Versatile office space with abundant natural light and unique features.
      1331 Memorial Dr, Denison, TX 75020
      View Details
    • $2,100 /Mo
      24,002 SF

      Office Space in Central Denison

      Office space with kitchen facilities, suitable for medical or professional tenant.
      1725 S Austin Ave, Denison, TX 75020
      View Details
    • $5,000 /Mo
      131,638 SF

      Denison Warehouse with Updated Offices

      Spacious warehouse with updated offices and excellent access.
      130 W Crawford St, Denison, TX 75021
      View Details
    • $600 /Mo
      12,001 SF

      Versatile Commercial Units Available

      Customizable commercial units for various business types in Denison, TX.
      602 S Armstrong Ave, Denison, TX 75020
      View Details
    • $1,500 /Mo
      6,490 SF

      Denison Office/Retail Space For Lease

      Updated office/retail space in Denison's vibrant downtown area.
      205 W Gandy St, Denison, TX 75020
      View Details
    • $14 SF/Yr
      3,000 SF

      Historic Restaurant Space in Denison

      Restored restaurant space in historic downtown Denison, Texas.
      120 W Main St, Denison, TX 75021
      View Details
    • $2,950 /Mo
      3,980 SF

      Denison Commercial Property For Lease

      Prime commercial property with high visibility and flexible design.
      2531 W Morton St, Denison, TX 75020
      View Details

    FAQs

    What type of property is this?
    Warehouse - Versatile warehouse with offices in high-growth Grayson County.
    Where is this warehouse located?
    The property is located at 510 S Mirick Ave Denison, TX.
    What is the lease rate?
    The lease rate is $2 SF/Yr.
    What are key features of this property?
    This property features: - Excellent business opportunity in rapidly expanding Grayson County.; - Convenient access to major highways in the high-growth corridor between Sherman and Denison.; - Flexible layout suitable for various business needs.
    (903) 786-3115
    Request Owner's contact information
    510 S Mirick Ave Denison, TX 75020
    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.
    510 S Mirick Ave
    Denison, TX 75020
    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
    510 S Mirick Ave Denison, TX 75020
    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

    We can help!
    Listing Contact
    Tommi Sue Homuth
    Tommi Sue Homuth
    Real Estate License ID: 0623240
    (903) 786-3115 (469) 879-2265
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!