Former Gas Station and Residence
For Sale
$288,000
1300 and 1302 W Main Street, Gatesville, TX 76528
COMMERCIAL - Gatesville, TX
Property Size3,136 SF
Lot Size2.31 Acres
Price / SF$91.84
Days on Market41
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 4
Last Checked: Aug 19 at 12:06AM
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 offering includes a 2.308-acre site made up of two parcels: 1300 W Main and 1302 W Main. The property is described as having commercial zoning along the front of both parcels, with residential zoning at the rear. Currently, the house on the site is being used as residential, and the former gas station is used as storage for a resale shop.
The tract is served by city water and city sewer, with additional utilities listed as electric and high-speed fiber optic internet. Public remarks indicate prime frontage on Hwy 84 and positioning between FM 116 and Hwy 36, with reported daily traffic of 11,000+ vehicles. The remarks further cite an 82,000 short-term traffic volume count and around 1,000 vehicle classification counts.
The listed property size is 3,136 square feet. Zoning is provided as bus/c.
The tract is served by city water and city sewer, with additional utilities listed as electric and high-speed fiber optic internet. Public remarks indicate prime frontage on Hwy 84 and positioning between FM 116 and Hwy 36, with reported daily traffic of 11,000+ vehicles. The remarks further cite an 82,000 short-term traffic volume count and around 1,000 vehicle classification counts.
The listed property size is 3,136 square feet. Zoning is provided as bus/c.
Key Highlights
- Commercial zoning on the front portion of two parcels, offering business opportunities.
- High traffic volume: 11,000+ vehicles daily and 82,000 short‑term traffic volume.**
- Prime frontage on Hwy 84, located between FM 116 and Hwy 36.**
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
6.88%
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 15.83%
Second Best
Retail
$532.9K
$466.3K – $621.7K
NOI $37,301 @ 7.0% cap · market cap 12.95%
Theoretical Best
Office A
$753.2K
$659.1K – $878.8K
NOI $52,727 @ 7.0% cap · market cap 18.31%
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?
Gas station - Two-parcel site with a house used residential and an old gas station used for storage, served by city water and sewer.
Where is this gas station 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 $288,000.
What are key features of this property?
This property features: Commercial zoning on the front portion of two parcels, offering business opportunities.; High traffic volume: 11,000+ vehicles daily and 82,000 short‑term traffic volume.**; Prime frontage on Hwy 84, located between FM 116 and Hwy 36.**
