Mixed-Use Property with Highway
For Sale
$279,000
1300 and 1302 W Main Street, Gatesville, TX 76528
CommercialSale, Gatesville, TX
Property Size3,136 SF
Lot Size2.31 Acres
Price / SF$88.97
Days on Market55
Property Features for 1300 and 1302 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
bus/c
Parking features
Carport
Subdivision
Westview Gatesville
Lot features
One To Three Acres, City Lot
Elementary school
Gatesville
Middle school
Gatesville
High school
Gatesville
Elementary school district
Gatesville ISD
Middle school district
Gatesville ISD
High school district
Gatesville ISD
Directions
From Coryell County Court House head East towards FM 116 about 1.5 miles. Property is on the left. Look for sign.
Standard status
Active
APN
116006 and 116005
Size
3,136 SF
Lot size
2.31 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
WESTVIEW ADDN GV, BLOCK 5, LOT 11 and 12, UNDIVIDED INTEREST 50.0000000000%. Total acres 2.308
Tax Annual Amount
784
Legal Description
WESTVIEW ADDN GV, BLOCK 5, LOT 11 and 12, UNDIVIDED INTEREST 50.0000000000%. Total acres 2.308
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Amenities
city water
city sewer
electric
high speed fiber optic internet
Building Details
Year built
1945
Floors in Building
1
Flooring type
Wood
Building materials
WoodSiding
Roof type
Shingle, Composition
Listing Agency:
Cowboy RE by All City RE
(254) 865-5006
Listed By:
Diana Barnett · License #0432796
(254) 423-7590
Added: Jul 10
Changed: Aug 20
Last Checked: Sep 2 at 3:06PM
MLS# 587569
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property includes two parcels totaling 2.308 acres, with 3136 square feet of existing improvements. The front portions carry BUS/C zoning, while the rear areas are residential. One house is currently occupied for residential use, and a former gas station building is being used for storage by a resale shop. Construction includes wood siding, wood flooring, shingle and composition roofing, window-unit cooling, and a carport.
Located at 1300 and 1302 W Main Street in Gatesville, the property has frontage on Hwy 84 and sits between FM 116 and Hwy 36. Public water and public sewer serve the site, with electric service and high-speed fiber optic internet also identified. The property information cites more than 11,000 vehicles in daily traffic and notes commercial zoning along the front of both parcels.
Located at 1300 and 1302 W Main Street in Gatesville, the property has frontage on Hwy 84 and sits between FM 116 and Hwy 36. Public water and public sewer serve the site, with electric service and high-speed fiber optic internet also identified. The property information cites more than 11,000 vehicles in daily traffic and notes commercial zoning along the front of both parcels.
Key Highlights
- 2.308 acres across two parcels at 1300 and 1302 W Main Street
- 3136 square feet of existing improvements
- Front portions zoned BUS/C; rear areas are residential
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
$19,809
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
7.10%
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%
$396,180
$396.2K
Cap Rate 7%
$282,986
$283.0K
Cap Rate 9%
$220,100
$220.1K
Market Conditions
NOI Build-Up for 3,136 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
$30.1K $9.60/SF
− Vacancy
−$1.8K −$0.58/SF
EGI
$28.3K $9.02/SF
− OpEx
−$8.5K −$2.71/SF
NOI
$19.8K $6.32/SF
Area
Coryell County, TX
Vacancy
6.00%
Lease Rate
$9.60 /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%
$396,180
Cap Rate 7%
$282,986
Cap Rate 9%
$220,100
Alternative Uses
Best Use
Specialty Retail
$651.2K
$569.8K – $759.7K
NOI $45,582 @ 7.0% cap · market cap 16.34%
Second Best
Retail
$532.9K
$466.3K – $621.7K
NOI $37,301 @ 7.0% cap · market cap 13.37%
Theoretical Best
Office A
$753.2K
$659.1K – $878.8K
NOI $52,727 @ 7.0% cap · market cap 18.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 76528, TX
18,773
Population
7,311
Households
2.6
Avg Household Size
40
Median Age
18%
College-Educated
89%
High-School Grad
486.3 sq mi
ZIP Area
39
Density / Sq Mi
$66,989
Median Household Income
$37,705
Median Earnings
$848
Median Rent
$189,900
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?
Mixed-use property - Two parcels combine residential improvements with commercially zoned frontage and public utilities.
Where is this mixed-use property located?
The property is located at 1300 and 1302 W Main Street Gatesville, TX.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: 2.308 acres across two parcels at 1300 and 1302 W Main Street; 3136 square feet of existing improvements; Front portions zoned BUS/C; rear areas are residential
