Wedding Venue with
New
For Sale
$549,900
1403 Interstate Highway 30, Greenville, TX 75402
Boutique event property with a kitchenette, serving area, and adaptable interior for private gatherings and community functions.
Property Size1,624 SF
Days on Market3
Property Features for 1403 Interstate Highway 30
General Information
Standard status
Active
Size
1,624 SF
Property subtype
Commercial
Zoning
Confirm with City
Amenities
kitchenette
dedicated serving area
outdoor patio space
Building Details
Building Size
1,624 SF
Year Built
1995
Stories
1
Units
1
Listing Agency:
RE/MAX Four Corners - Greenville
(903) 456-4969
Listed By:
Dennisha Denney · License #0463283
(903) 456-4969
Source:
Cornerstonehomeandranch
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 11:30AM
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 RE/MAX Four Corners - Greenville
Investment Insights
Based on property information with market context.
This specialty event property operates as a boutique venue for private gatherings, showers, workshops, meetings, and community events. The interior combines bright finishes with vintage-inspired detailing and locally curated decor, creating a flexible setting for different event formats. A kitchenette and separate serving area support event preparation, while the outdoor patio extends the usable gathering space.
The property is located at 1403 Interstate Highway 30 in Greenville, Texas. Its current configuration also supports consideration of other business concepts identified for the space, including boutique retail, a coffee bar, a creative studio, or office use. Zoning is listed as confirm with City.
The property is located at 1403 Interstate Highway 30 in Greenville, Texas. Its current configuration also supports consideration of other business concepts identified for the space, including boutique retail, a coffee bar, a creative studio, or office use. Zoning is listed as confirm with City.
Key Highlights
- Boutique event venue accommodates gatherings of 40+ guests
- Outdoor patio provides additional space for guest gatherings
- Interior includes a kitchenette and dedicated serving 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
$27,968
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
5.09%
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%
$559,360
$559.4K
Cap Rate 7%
$399,543
$399.5K
Cap Rate 9%
$310,756
$310.8K
Market Conditions
NOI Build-Up for 1,624 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
$39.2K $24.12/SF
− Vacancy
−$1.9K −$1.16/SF
EGI
$37.3K $22.96/SF
− OpEx
−$9.3K −$5.74/SF
NOI
$28.0K $17.22/SF
Area
Hunt County, TX
Vacancy
4.80%
Lease Rate
$24.12 /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%
$559,360
Cap Rate 7%
$399,543
Cap Rate 9%
$310,756
Alternative Uses
Best Use
Specialty Retail
$399.5K
$349.6K – $466.1K
NOI $27,968 @ 7.0% cap · market cap 5.09%
Second Best
Retail
$373.3K
$326.6K – $435.5K
NOI $26,131 @ 7.0% cap · market cap 4.75%
Theoretical Best
Industrial
$1.61M
$1.41M – $1.88M
NOI $112,959 @ 7.0% cap · market cap 20.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 75402, TX
18,983
Population
8,024
Households
2.4
Avg Household Size
41
Median Age
32%
College-Educated
93%
High-School Grad
90.8 sq mi
ZIP Area
209
Density / Sq Mi
$77,602
Median Household Income
$46,076
Median Earnings
$1,414
Median Rent
$252,500
Median Home Value
Market
Vacancy Rate% for Retail 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?
Wedding venue - Boutique event property with a kitchenette, serving area, and adaptable interior for private gatherings and community functions.
Where is this wedding venue located?
The property is located at 1403 Interstate Highway 30 Greenville, TX.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Boutique event venue accommodates gatherings of 40+ guests; Outdoor patio provides additional space for guest gatherings; Interior includes a kitchenette and dedicated serving area
