Historic Brewery Building With 20-Foot
For Sale
$800,000
216 W Main Street, Denison, TX 75020
Historic brewery building on Main Street with over 20-foot ceilings and an expansive open floor plan.
Property Size6,000 SF
Price / SF$133.33
Days on Market45
Property Features for 216 W Main Street
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Business
Taxes and HOA fees
Annual Taxes
$12,008
Building Details
Building Size
6,000 SF
Year Built
1900
Listing Agency:
Bertholf Commercial Real Estate
Listed By:
Evan Ramsey · License #845775-SA
(903) 267-1573
Source:
Texasliferealestate
Added: Jul 30
Changed: Sep 9
Last Checked: Sep 11 at 4:23PM
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 Bertholf Commercial Real Estate
Investment Insights
Based on property information with market context.
Ivanhoe Ale Works Building is a historic downtown brewery building at 216 W Main Street in Denison, TX. The property is approximately 6,000 SF and features over 20-foot ceilings with an expansive open floor plan. Its warehouse-style layout creates a flexible interior configuration suitable for hospitality, entertainment, retail, brewery, event venue, showroom, creative office, or mixed-use concepts.
Constructed in 1900, the building retains original architectural elements and soaring ceilings that contribute to its distinctive character. Most recently occupied by Ivanhoe Ale Works, the space’s combination of height and open layout is intended to support a wide range of programming and tenant buildouts.
With its central Downtown Denison setting, this is a distinctive historic shell for operators seeking an adaptive, concept-forward environment.
Constructed in 1900, the building retains original architectural elements and soaring ceilings that contribute to its distinctive character. Most recently occupied by Ivanhoe Ale Works, the space’s combination of height and open layout is intended to support a wide range of programming and tenant buildouts.
With its central Downtown Denison setting, this is a distinctive historic shell for operators seeking an adaptive, concept-forward environment.
Key Highlights
- Approximately 6,000 SF historic brewery building
- Over 20‑foot ceilings with expansive open floor plan
- Warehouse‑style interior layout built for flexible concepts
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
$31,256
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
3.91%
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%
$625,120
$625.1K
Cap Rate 7%
$446,514
$446.5K
Cap Rate 9%
$347,289
$347.3K
Market Conditions
NOI Build-Up for 6,000 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
$49.0K $8.16/SF
− Vacancy
−$4.3K −$0.72/SF
EGI
$44.7K $7.44/SF
− OpEx
−$13.4K −$2.23/SF
NOI
$31.3K $5.21/SF
Area
Grayson County, TX
Vacancy
8.80%
Lease Rate
$8.16 /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%
$625,120
Cap Rate 7%
$446,514
Cap Rate 9%
$347,289
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.67M
NOI $100,362 @ 7.0% cap · market cap 12.55%
Second Best
Industrial
$446.5K
$390.7K – $520.9K
NOI $31,256 @ 7.0% cap · market cap 3.91%
Theoretical Best
Hotel Hospitality
$3.08M
$2.69M – $3.59M
NOI $215,460 @ 7.0% cap · market cap 26.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
858
Businesses Nearby
Explore this area
Business Placement
Demographics for 75020, TX
23,782
Population
10,802
Households
2.2
Avg Household Size
42
Median Age
19%
College-Educated
90%
High-School Grad
61.0 sq mi
ZIP Area
390
Density / Sq Mi
$66,308
Median Household Income
$38,656
Median Earnings
$1,136
Median Rent
$187,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Brewery - Historic brewery building on Main Street with over 20-foot ceilings and an expansive open floor plan.
Where is this brewery located?
The property is located at 216 W Main Street Denison, TX.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Approximately 6,000 SF historic brewery building; Over 20‑foot ceilings with expansive open floor plan; Warehouse‑style interior layout built for flexible concepts
