Commercially Zoned Live-Work
For Sale
$139,000
1116 E State Hwy 276, West Tawakoni, TX 75474
Two-bedroom layout with a spacious living room and commercial zoning.
Property Size960 SF
Days on Market18
Property Features for 1116 E State Hwy 276
General Information
Standard status
Active
Size
960 SF
Property subtype
Commercial
Zoning
Commercial, residential
Building Details
Building Size
960 SF
Year Built
1980
Buildings
1
Units
1
Abandoned
No
Listing Agency:
1st Choice Realty
(903) 356-4600
Listed By:
Jody Crocker · License #0600261
(214) 578-1297
Source:
Vickiesteam
Added: Aug 19
Changed: Sep 4
Last Checked: Sep 5 at 8:27AM
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 1st Choice Realty
Investment Insights
Based on property information with market context.
Built in 1980, this 960-square-foot property is currently configured as a two-bedroom, one-bath residence with a notably large living room. The existing layout offers a residential setting with potential for office conversion, subject to applicable requirements, or continued personal use alongside a small business. The property is already zoned commercial by the city.
Located along State Hwy 276 in West Tawakoni, the property benefits from highway exposure and surrounding commercial activity. Nearby uses include a storage facility, bookkeeping business, and church. A city park adjoins the backyard, which also has views toward the lake. The area includes a swimming area, playground, boat ramp, and access to Deer Run Golf Course nearby.
Located along State Hwy 276 in West Tawakoni, the property benefits from highway exposure and surrounding commercial activity. Nearby uses include a storage facility, bookkeeping business, and church. A city park adjoins the backyard, which also has views toward the lake. The area includes a swimming area, playground, boat ramp, and access to Deer Run Golf Course nearby.
Key Highlights
- 960 SF property built in 1980
- Commercial zoning by the city
- Two bedrooms and one bathroom
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
$12,175
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
8.76%
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%
$243,500
$243.5K
Cap Rate 7%
$173,929
$173.9K
Cap Rate 9%
$135,278
$135.3K
Market Conditions
NOI Build-Up for 960 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
$21.1K $21.96/SF
− Vacancy
−$4.8K −$5.05/SF
EGI
$16.2K $16.91/SF
− OpEx
−$4.1K −$4.23/SF
NOI
$12.2K $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%
$243,500
Cap Rate 7%
$173,929
Cap Rate 9%
$135,278
Alternative Uses
Best Use
Mixed Use
$189.3K
$165.6K – $220.8K
NOI $13,248 @ 7.0% cap · market cap 9.53%
Second Best
Office B
$173.9K
$152.2K – $202.9K
NOI $12,175 @ 7.0% cap · market cap 8.76%
Theoretical Best
Industrial
$953.9K
$834.7K – $1.11M
NOI $66,774 @ 7.0% cap · market cap 48.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Explore this area
Business Placement
Demographics for 75474, TX
16,010
Population
7,115
Households
2.3
Avg Household Size
44
Median Age
17%
College-Educated
82%
High-School Grad
105.3 sq mi
ZIP Area
152
Density / Sq Mi
$66,299
Median Household Income
$35,770
Median Earnings
$1,101
Median Rent
$169,800
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?
Live-work space - Two-bedroom layout with a spacious living room and commercial zoning.
Where is this live-work space located?
The property is located at 1116 E State Hwy 276 West Tawakoni, TX.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: 960 SF property built in 1980; Commercial zoning by the city; Two bedrooms and one bathroom
