Flex Space with Private
For Sale
$895,000
1905 E Price St, Paris, TX 75460
Adaptable commercial building with private rooms, full baths, office areas, and support spaces in a multi-family dwelling district.
Property Size11,317 SF
Price / SF$79.08
Days on Market24
Property Features for 1905 E Price St
General Information
Standard status
Active
Size
11,317 SF
Zoning
Multi-Family Dwelling District
Additional Details
Opportunity Zone
Yes
Road Access
Yes
Building Details
Year Built
1960
Listing Agency:
EXP REALTY
(214) 597-7862
Listed By:
Shannon Miles, Scott Miles · License #0766885
Source:
Minteerteam
Added: Aug 6
Changed: Aug 28
Last Checked: Aug 28 at 8:25PM
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 EXP REALTY
Investment Insights
Based on property information with market context.
Built in 1960, this 11,317-square-foot commercial property occupies more than 1 acre and offers dual road frontage. The former daycare layout includes 12 private rooms with full baths, office areas, a commercial kitchen, laundry facilities, and additional flex space. Its configuration supports the end uses identified for the property, including multi-family conversion, co-working, flex office suites, medical or wellness services, senior-focused services, hospitality group lodging, and community training space.
The property is located at 1905 E Price St in Paris, Texas, near downtown, shopping, and medical centers. It is situated within a Multi-Family Dwelling District and a Texas Opportunity Zone. Current income supports an estimated 10% cap rate, and the site’s existing room and support-space configuration provides a substantial framework for continued commercial use or repositioning.
The property is located at 1905 E Price St in Paris, Texas, near downtown, shopping, and medical centers. It is situated within a Multi-Family Dwelling District and a Texas Opportunity Zone. Current income supports an estimated 10% cap rate, and the site’s existing room and support-space configuration provides a substantial framework for continued commercial use or repositioning.
Key Highlights
- 11,317 SF commercial property on 1+ acre
- 12 private rooms, each with a full bath
- Dual road 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
$57,769
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
6.45%
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%
$1,155,380
$1.2M
Cap Rate 7%
$825,271
$825.3K
Cap Rate 9%
$641,878
$641.9K
Market Conditions
NOI Build-Up for 11,317 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
$91.0K $8.04/SF
− Vacancy
−$8.5K −$0.75/SF
EGI
$82.5K $7.29/SF
− OpEx
−$24.8K −$2.19/SF
NOI
$57.8K $5.10/SF
Area
Lamar County, TX
Vacancy
9.30%
Lease Rate
$8.04 /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%
$1,155,380
Cap Rate 7%
$825,271
Cap Rate 9%
$641,878
Alternative Uses
Best Use
Industrial
$825.3K
$722.1K – $962.8K
NOI $57,769 @ 7.0% cap · market cap 6.45%
Second Best
Flex RnD
$766.3K
$670.5K – $894.0K
NOI $53,642 @ 7.0% cap · market cap 5.99%
Theoretical Best
Hotel Hospitality
$8.52M
$7.46M – $9.94M
NOI $596,689 @ 7.0% cap · market cap 66.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75460, TX
22,925
Population
11,210
Households
2
Avg Household Size
38
Median Age
17%
College-Educated
88%
High-School Grad
101.9 sq mi
ZIP Area
225
Density / Sq Mi
$44,241
Median Household Income
$30,546
Median Earnings
$895
Median Rent
$123,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Taqueria y Fruteria Ramirez — 110 S Collegiate Dr, Paris, TX 75460
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building with private rooms, full baths, office areas, and support spaces in a multi-family dwelling district.
Where is this flex space located?
The property is located at 1905 E Price St Paris, TX.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 11,317 SF commercial property on 1+ acre; 12 private rooms, each with a full bath; Dual road frontage
