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

    424 S Washington Street, Pilot Point, TX 76258

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $3,100/Mo $11 SF/Yr (calc)

    Commercial building near historic downtown Pilot Point, Texas.

    Type:Rental
    Property size:
    3,168 SF
    Lot size:
    0.65 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    51
    Last Refresh:
    Feb 10 at 1:12 pm

    Property Features for 424 S Washington Street

    General Information

    Standard status
    Active
    Size
    3,168 SF
    Lot size
    0.65 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Michael Sanders

    Listing agent Michael Sanders License #0639834

    Listing office Ready Real Estate LLC

    Listing date Mar 24, 2026

    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 Ready Real Estate LLC

    HighLights

    • Prime location near historic downtown Pilot Point
    • Approximately 30 paved parking spots
    • Large chapel/conference room suitable for various uses
    • Spacious foyer and holding area
    • Wheelchair accessible bathrooms
    • Landlord maintains exterior grounds

    Overview

    This commercial building, having served as a funeral home for over 50 years, is available for lease. Situated a few blocks from historic downtown Pilot Point, Texas, the property includes approximately 30 paved parking spots. The 3168 square foot building features a large chapel or conference room, a spacious foyer and holding area, one large office space, a kitchen, and two wheelchair-accessible bathrooms. The property may be suitable for a church or medical offices, pending city approvals. The landlord will maintain the exterior grounds. The building is well maintained.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Slay Memorial Funeral ... Social Service Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Pilot Point
    County
    Denton
    State
    Texas
    Longitude
    -96.96161
    Latitude
    33.392666

    Nearby Similar for Lease

    • $2,149/Mo

      Versatile Commercial Property on Highway

      Highly visible commercial property ideal for various business opportunities.
      520 S Highway 377, Pilot Point, TX 76258
      View Details
    • $2,000/Mo

      Pilot Point Office Space Available

      Office space for lease in Pilot Point, Texas.
      1013 S Highway 377, Pilot Point, TX 76258
      View Details
    • $7,500/Mo

      Fenced Yard Warehouse Near Tollway

      Two insulated metal buildings with fenced yard space for lease.
      11416 Hames Road, Pilot Point, TX 76258
      View Details
    • $4,500/Mo

      Pilot Point Warehouse with Fenced Yard

      3,200 SF warehouse with fenced yard near Dallas North Tollway.
      11416 Hames Road, Pilot Point, TX 76258
      View Details
    • $3,000/Mo

      Pilot Point Warehouse For Lease

      3,200 SF insulated metal building near Dallas North Tollway.
      11416 Hames Road, Pilot Point, TX 76258
      View Details
    • $2,058/Mo

      Office Space on Highway 377

      1,300 sqft office space with highway exposure in Pilot Point.
      1137 S Highway 377, Pilot Point, TX 76258
      View Details
    • $3,500/Mo

      Retail Space in Pilot Point

      Retail space for rent, one block north of the square.
      108 W Walcott Street, Pilot Point, TX 76258
      View Details
    • $3,000/Mo

      Retail Space in Pilot Point

      Retail space available for lease in Pilot Point, Texas.
      11416 Hames Road 1, Pilot Point, TX 76258
      View Details
    • $4,500/Mo

      Versatile Commercial Space For Rent

      3200 sqft commercial space suitable for office or retail.
      11416 Hames Road 2, Pilot Point, TX 76258
      View Details
    • $7,500/Mo

      Versatile Commercial Space For Rent

      6400 sqft commercial property suitable for various business needs.
      11416 Hames Road, Pilot Point, TX 76258
      View Details
    • $1,500/Mo

      Downtown Pilot Point Retail Suite

      Versatile retail space with drive-thru in thriving downtown area.
      224 W Liberty Street, Pilot Point, TX 76258
      View Details
    • $7,500/Mo

      Fenced Yard Flex Space

      Two insulated metal buildings with fenced yard space for lease.
      11416 Hames Road, Pilot Point, TX 76258
      View Details

    FAQs

    What type of property is this?
    Wedding venue - Commercial building near historic downtown Pilot Point, Texas.
    Where is this wedding venue located?
    The property is located at 424 S Washington Street Pilot Point, TX.
    What is the lease rate?
    The lease rate is $3,100 /Mo.
    What are key features of this property?
    This property features: Prime location near historic downtown Pilot Point; Approximately 30 paved parking spots; Large chapel/conference room suitable for various uses
    (817) 681-5180
    We can help!
    Listing Contact
    Michael Sanders
    Real Estate License ID: 0639834
    Learn More
    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
    424 S Washington Street, Pilot Point, TX 76258
    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!