Corner Commercial
For Sale
$1,149,000
4319 Wesley St, Greenville, TX 75401
Four contiguous lots with General Retail zoning and existing structures previously used for office and rental purposes.
Property Size5,811 SF
Price / SF$197.73
Days on Market48
Property Features for 4319 Wesley St
General Information
Standard status
Active
Size
5,811 SF
Building Details
Year Built
1940
Listing Agency:
Tarpley, REALTORS
Listed By:
John Walker
(903) 455-2793
Source:
Yourdavisteam
Added: Aug 2
Changed: Sep 17
Last Checked: Sep 15 at 9:37PM
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 Tarpley, REALTORS
Investment Insights
Based on property information with market context.
This commercial land offering comprises four contiguous lots totaling approximately 1.17 acres, or 50,966 square feet of grade-level land. Existing structures, including former residences, have been used for office and rental purposes over many years, providing an established interim use while the property’s next configuration is evaluated. The current General Retail zoning accommodates varied public-facing commercial uses.
The site occupies the controlled corner of Wesley Street, also identified as SH 34, and Stanford Street in Greenville. Frontage extends along three sides, with additional access from St John Street at the rear. Approximately 246 feet fronts Wesley Street and about 208 feet fronts Stanford Street. The property is positioned at the first light north of Hwy 69, with sidewalks, curbs, and asphalt contributing to the existing streetscape.
The site occupies the controlled corner of Wesley Street, also identified as SH 34, and Stanford Street in Greenville. Frontage extends along three sides, with additional access from St John Street at the rear. Approximately 246 feet fronts Wesley Street and about 208 feet fronts Stanford Street. The property is positioned at the first light north of Hwy 69, with sidewalks, curbs, and asphalt contributing to the existing streetscape.
Key Highlights
- Four contiguous lots totaling approximately 1.17 acres
- 50,966 square feet of grade‑level land
- Approximately 246 ft. of Wesley Street frontage
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
$73,695
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
6.41%
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%
$1,473,900
$1.5M
Cap Rate 7%
$1,052,786
$1.1M
Cap Rate 9%
$818,833
$818.8K
Market Conditions
NOI Build-Up for 5,811 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
$127.6K $21.96/SF
− Vacancy
−$29.4K −$5.05/SF
EGI
$98.3K $16.91/SF
− OpEx
−$24.6K −$4.23/SF
NOI
$73.7K $12.68/SF
Area
Hunt County, TX
Vacancy
23.00%
Lease Rate
$21.96 /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%
$1,473,900
Cap Rate 7%
$1,052,786
Cap Rate 9%
$818,833
Alternative Uses
Best Use
Office B
$1.05M
$921.2K – $1.23M
NOI $73,695 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$5.77M
$5.05M – $6.74M
NOI $404,192 @ 7.0% cap · market cap 35.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
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Business Placement
Demographics for 75401, TX
19,550
Population
9,067
Households
2.2
Avg Household Size
34
Median Age
14%
College-Educated
82%
High-School Grad
108.1 sq mi
ZIP Area
181
Density / Sq Mi
$57,335
Median Household Income
$33,244
Median Earnings
$1,157
Median Rent
$163,100
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Commercial land - Four contiguous lots with General Retail zoning and existing structures previously used for office and rental purposes.
Where is this commercial land located?
The property is located at 4319 Wesley St Greenville, TX.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: Four contiguous lots totaling approximately 1.17 acres; 50,966 square feet of grade‑level land; Approximately 246 ft. of Wesley Street frontage
