Prime Corner Lot in
For Sale
Contact for pricing
Pending
2324 W Main Street, Gun Barrel City, TX 75156
Corner lot suitable for business ventures in Gun Barrel City.
Property Size1,200 SF
Lot Size0.37 Acres
Days on Market792
Property Features for 2324 W Main Street
General Information
Standard status
Pending
Size
1,200 SF
Lot size
0.37 Acres
Property subtype
Retail
Building Details
Year Built
1978
Buildings
1
Stories
1
Listing Agency:
Coldwell Banker American Dream Gun Barrel City
(214) 803-2289
Listed By:
Robert Blaase · License #9006194
Source:
Crexi
Added: Jun 15, 2024
Changed: Aug 8
Last Checked: Aug 8 at 6:33AM
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 Coldwell Banker American Dream Gun Barrel City
Investment Insights
Based on property information with market context.
This property presents an investment opportunity, situated on a corner lot in Gun Barrel City. The site spans approximately 0.37 acres and includes a 1,200 square foot building. Previously operated as a liquor store, the property is suitable for various business ventures. The listing includes the land and building.
Key Highlights
- Prime corner lot location in the heart of Gun Barrel City.
- Approximately 0.37 acres suitable for business ventures.
- Previously a long‑established liquor store site.
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
$16,463
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
5.51%
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%
$329,260
$329.3K
Cap Rate 7%
$235,186
$235.2K
Cap Rate 9%
$182,922
$182.9K
Market Conditions
NOI Build-Up for 1,200 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
$24.0K $20.04/SF
− Vacancy
−$529 −$0.44/SF
EGI
$23.5K $19.60/SF
− OpEx
−$7.1K −$5.88/SF
NOI
$16.5K $13.72/SF
Area
Henderson County, TX
Vacancy
2.20%
Lease Rate
$20.04 /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%
$329,260
Cap Rate 7%
$235,186
Cap Rate 9%
$182,922
Alternative Uses
Best Use
Retail
$235.2K
$205.8K – $274.4K
NOI $16,463 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$422.1K
$369.4K – $492.5K
NOI $29,549 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75156, TX
15,708
Population
8,969
Households
1.8
Avg Household Size
48
Median Age
17%
College-Educated
86%
High-School Grad
32.1 sq mi
ZIP Area
489
Density / Sq Mi
$59,303
Median Household Income
$35,316
Median Earnings
$932
Median Rent
$209,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Corner lot suitable for business ventures in Gun Barrel City.
Where is this storefront property located?
The property is located at 2324 W Main Street Gun Barrel City, TX.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Prime corner lot location in the heart of Gun Barrel City.; Approximately 0.37 acres suitable for business ventures.; Previously a long‑established liquor store site.
