Downtown Office Condo
For Sale
$450,000
376 W Main Street #A, Lewisville, TX 75057
Well-maintained office condo offering five private offices, a reception or work area, and two restrooms with a kitchen area.
Property Size2,076 SF
Price / SF$216.76
Days on Market13
Property Features for 376 W Main Street #A
General Information
Standard status
Active
Size
2,076 SF
Property subtype
Commercial
Zoning
Office
Additional Details
Furnished
Yes
Business Included
No
Building Details
Building Size
2,076 SF
Year Built
1984
Stories
1
Units
2
Listing Agency:
James Hanking, Broker
(972) 345-0609
Listed By:
Jim Hanking · License #0543503
(972) 345-0609
Source:
Fullhouserealtytx
Added: Jul 27
Changed: Aug 8
Last Checked: Aug 8 at 1:02PM
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 James Hanking, Broker
Investment Insights
Based on property information with market context.
This well-maintained office condo suite features five private offices plus a larger reception or work area. The layout also includes two restrooms and a dedicated kitchen area, supporting a functional day-to-day office environment.
Located in downtown Lewisville, the property is presented as an office condo at 376 W Main Street #A. It is available for sale.
With multiple enclosed offices alongside the main reception or work area, the space is suited for a range of professional office uses that benefit from both private rooms and an open common area.
Located in downtown Lewisville, the property is presented as an office condo at 376 W Main Street #A. It is available for sale.
With multiple enclosed offices alongside the main reception or work area, the space is suited for a range of professional office uses that benefit from both private rooms and an open common area.
Key Highlights
- Well‑maintained office condo built in 1984
- 5 private offices for separate workspaces
- Large reception or work area
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
$38,433
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
8.54%
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%
$768,660
$768.7K
Cap Rate 7%
$549,043
$549.0K
Cap Rate 9%
$427,033
$427.0K
Market Conditions
NOI Build-Up for 2,076 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
$68.5K $33.00/SF
− Vacancy
−$17.3K −$8.32/SF
EGI
$51.2K $24.68/SF
− OpEx
−$12.8K −$6.17/SF
NOI
$38.4K $18.51/SF
Area
Lewisville, TX
Vacancy
25.20%
Lease Rate
$33.00 /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%
$768,660
Cap Rate 7%
$549,043
Cap Rate 9%
$427,033
Alternative Uses
Best Use
Office B
$549.0K
$480.4K – $640.6K
NOI $38,433 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$692.1K
$605.6K – $807.5K
NOI $48,449 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,704
Businesses Nearby
Explore this area
Business Placement
Demographics for 75057, TX
16,001
Population
7,171
Households
2.2
Avg Household Size
31
Median Age
29%
College-Educated
83%
High-School Grad
13.3 sq mi
ZIP Area
1,203
Density / Sq Mi
$76,128
Median Household Income
$43,253
Median Earnings
$1,589
Median Rent
$208,500
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 units - Well-maintained office condo offering five private offices, a reception or work area, and two restrooms with a kitchen area.
Where is this office units located?
The property is located at 376 W Main Street #A Lewisville, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Well‑maintained office condo built in 1984; 5 private offices for separate workspaces; Large reception or work area
