Updated Medical Office
For Sale
$399,000
501 N Main Street, Lindale, TX 75771
Updated office building with four private offices or treatment rooms, reception area, break room, and two bathrooms.
Property Size1,696 SF
Days on Market37
Property Features for 501 N Main Street
General Information
Standard status
Active
Size
1,696 SF
Property subtype
Commercial
Zoning
Commercial, Retail, Office
Building Details
Building Size
1,696 SF
Year Built
1964
Units
1
Listing Agency:
Leslie Cain Realty
(903) 330-5192
Listed By:
April Shipman · License #0680481
(903) 330-5192
Source:
Vickiesteam
Added: Jul 21
Changed: Aug 23
Last Checked: Aug 25 at 8:11AM
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 Leslie Cain Realty
Investment Insights
Based on property information with market context.
This updated office building is designed for professional use, with four private offices or treatment rooms, a spacious reception or waiting area, a kitchen or break room, and two bathrooms. The layout is functional and flexible for a range of office and client-facing operations.
The building is located on N Main Street in downtown Lindale, with nearby amenities including SpringHill Suites and TJC North Campus, as well as several restaurants.
Ample parking supports convenient client and customer access, making the property well-suited for businesses that require both private workspace and a welcoming waiting area.
The building is located on N Main Street in downtown Lindale, with nearby amenities including SpringHill Suites and TJC North Campus, as well as several restaurants.
Ample parking supports convenient client and customer access, making the property well-suited for businesses that require both private workspace and a welcoming waiting area.
Key Highlights
- Updated commercial office building built in 1964 in downtown Lindale
- Interior layout includes four private offices or treatment rooms and a spacious reception or waiting area
- Additional space includes a kitchen or break room
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
$20,148
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
5.05%
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%
$402,960
$403.0K
Cap Rate 7%
$287,829
$287.8K
Cap Rate 9%
$223,867
$223.9K
Market Conditions
NOI Build-Up for 1,696 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
$30.5K $18.00/SF
− Vacancy
−$3.7K −$2.16/SF
EGI
$26.9K $15.84/SF
− OpEx
−$6.7K −$3.96/SF
NOI
$20.1K $11.88/SF
Area
Smith County, TX
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$402,960
Cap Rate 7%
$287,829
Cap Rate 9%
$223,867
Alternative Uses
Best Use
Office B
$287.8K
$251.9K – $335.8K
NOI $20,148 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$1.28M
$1.12M – $1.49M
NOI $89,422 @ 7.0% cap · market cap 22.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
Explore this area
Business Placement
Demographics for 75771, TX
21,870
Population
9,241
Households
2.4
Avg Household Size
41
Median Age
29%
College-Educated
91%
High-School Grad
146.1 sq mi
ZIP Area
150
Density / Sq Mi
$90,112
Median Household Income
$48,088
Median Earnings
$1,318
Median Rent
$266,000
Median Home Value
Market
Vacancy Rate% for Office 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?
Office building - Updated office building with four private offices or treatment rooms, reception area, break room, and two bathrooms.
Where is this office building located?
The property is located at 501 N Main Street Lindale, TX.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Updated commercial office building built in 1964 in downtown Lindale; Interior layout includes four private offices or treatment rooms and a spacious reception or waiting area; Additional space includes a kitchen or break room
