Commercial Condo Office or
180-251 S Mill St Lewisville, TX 75057
180-251 S Mill St, Lewisville, TX, 75057
$745,000
For Sale
$745,000
Commercial condo with multiple private offices, reception space, ADA restrooms, and a fenced patio within a mixed-use development.
Property Size2,071 SF
Price / SF$359.73
Days on Market10
Property Features for 180-251 S Mill St
General Information
- Standard status
- Active
- Size
- 2,071 SF
Listing agency
Real Broker, LLC
(855) 450-0442
Listed by
Jeanie Cline · License #0670223
(855) 450-0442
Source
Exprealty
Added: Jul 13 Updated: Jul 22 at 10:38AM Checked: Jul 22 at 10:38AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This 2,071 SF commercial condo is well-suited for office or retail use and features a thoughtfully designed interior layout with 3 to 4 private offices and an expansive reception or collaborative workspace. The space includes a large kitchen, two ADA-compliant restrooms, a laundry room, multiple storage areas, and modern finishes. Exterior improvements include a spacious fenced patio, and the property was completed in 2017.
Situated in Lewisville’s Old Town District within a mixed-use development, the location is described as walkable and supported by year-round festivals and weekly events. The development context includes surrounding thriving businesses, destination restaurants, entertainment, and residential development.
According to the seller, the property is located within the Old Town TRIZ, and the listing notes potential property tax incentives tied to the district’s Economic Development Corporation activity. The seller is also the original developer and builder of the mixed-use project and surrounding residential communities. Two residential condo flats located directly above the commercial space are available for purchase, with garages and an elevator shown on the floor plan serving the private residential units.
Situated in Lewisville’s Old Town District within a mixed-use development, the location is described as walkable and supported by year-round festivals and weekly events. The development context includes surrounding thriving businesses, destination restaurants, entertainment, and residential development.
According to the seller, the property is located within the Old Town TRIZ, and the listing notes potential property tax incentives tied to the district’s Economic Development Corporation activity. The seller is also the original developer and builder of the mixed-use project and surrounding residential communities. Two residential condo flats located directly above the commercial space are available for purchase, with garages and an elevator shown on the floor plan serving the private residential units.
Key Highlights
- 2,071 SF commercial condo in Lewisville’s Old Town District within a premier mixed‑use development
- Floorplan includes 3–4 private offices, expansive reception/collaborative workspace, and a large kitchen
- Two ADA‑compliant restrooms plus a laundry room and multiple storage areas
Local Financial Insights For Office B
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 | $68.3k | $33.00 |
| − Vacancy | −$17.2k | −$8.32 |
| EGI | $51.1k | $24.68 |
| − OpEx | −$12.8k | −$6.17 |
| NOI | $38.3k | $18.51 |
2,071 SF · lease $33.00/SF/yr · vacancy 25.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$547.7K
$479.3K – $639.0K
NOI $38,340 @ 7.0% cap · market cap 5.15%
Second Best
Mixed Use
$488.2K
$427.2K – $569.5K
NOI $34,172 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$690.5K
$604.2K – $805.5K
NOI $48,332 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Commercial condo with multiple private offices, reception space, ADA restrooms, and a fenced patio within a mixed-use development.
Where is this office units located?
The property is located at 180-251 S Mill St Lewisville, TX.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: 2,071 SF commercial condo in Lewisville’s Old Town District within a premier mixed‑use development; Floorplan includes 3–4 private offices, expansive reception/collaborative workspace, and a large kitchen; Two ADA‑compliant restrooms plus a laundry room and multiple storage areas
