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    Commercial Space in Hewitt, TX Title is generated by Realmo AI

    155 N 1st Street, Hewitt, TX 76643

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    Claim this Listing
    For Sale
    $375,000

    COMMERCIAL - Hewitt, TX

    Property size:
    2,400 SF
    Lot size:
    0.38 Acres
    Price / SF:
    $156/SF
    Added:
    Apr 22, 2026
    Days on Market:
    42
    Last Refresh:
    Jun 2 at 11:06 pm

    Property Features for 155 N 1st Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    363015000004004
    Size
    2,400 SF
    Lot size
    0.38 Acres

    Taxes and HOA fees

    Tax Description
    ARNOLD-ALLEN ADD LOT 4 BLOCK 1 ACRES .3806
    Tax Annual Amount
    6334

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1985
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Tile, Concrete
    Building materials
    SteelSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Kevin Collins
    Kevin Collins

    Listing agent Kevin Collins License #0483618

    Listing office Kelly, Realtors Waco, TX

    Listing date Apr 22, 2026

    MLS# 21240252

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2400 total square feet of space
    • Features an 800 square foot warehouse
    • 1600 square feet of controlled air space
    • Additional enclosed controlled air space within the warehouse
    • Central air conditioning and electric heating
    • Durable steel siding and metal roof

    Overview

    This commercial property offers a total of 2400 square feet, including 1600 square feet of air-conditioned space and an 800 square foot warehouse. Additionally, there is an enclosed air-conditioned space within the warehouse. The property is located in Hewitt, TX, and is situated on a 0.381-acre lot.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $49.2k $20.52
    − Vacancy −$2.8k −$1.17
    EGI $46.4k $19.35
    − OpEx −$13.9k −$5.81
    NOI $32.5k $13.55
    2,400 SF · lease $20.52/SF/yr · vacancy 5.70% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $464.4K
    $406.4K – $541.8K (±1% cap)
    NOI $32,509 @ 7.0% cap · market cap 8.67%
    Second Best
    Warehouse
    $211.9K
    $185.4K – $247.2K (±1% cap)
    NOI $14,833 @ 7.0% cap · market cap 3.96%
    Theoretical Best
    Multifamily LT 5
    $29.90M
    $26.16M – $34.88M (±1% cap)
    NOI $2,092,869 @ 7.0% cap · market cap 558.10%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    S&G APPLIANCES Home Appliance Store

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hewitt
    County
    McLennan
    State
    Texas
    Longitude
    -97.19688
    Latitude
    31.463412

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    FAQs

    What type of property is this?
    Warehouse - 2400 SF commercial space with warehouse and controlled air.
    Where is this warehouse located?
    The property is located at 155 N 1st Street Hewitt, TX.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: 2400 total square feet of space; Features an 800 square foot warehouse; 1600 square feet of controlled air space
    (254) 741-1500
    We can help!
    Listing Contact
    Kevin Collins
    Kevin Collins
    Real Estate License ID: 0483618
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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