Highway-Frontage Storefront
For Sale
$399,900
1821 Fm 982, Princeton, TX 75407
Existing improvements include flexible rooms, two full bathrooms, a kitchen, and a laundry area.
Property Size1,210 SF
Price / SF$330.50
Days on Market41
Property Features for 1821 Fm 982
General Information
Standard status
Active
Size
1,210 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
underground storm shelter
two large living areas
two full bathrooms
laundry room area
full kitchen
Building Details
Year Built
1965
Tenancy
Single
Listing Agency:
Texas Urban Living Realty
(214) 823-7783
Listed By:
Monica Torres · License #0576252
Source:
Yourdavisteam
Added: Jul 20
Changed: Aug 27
Last Checked: Aug 28 at 1:13PM
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 Texas Urban Living Realty
Investment Insights
Based on property information with market context.
This storefront property at 1821 FM 982 includes two large living areas, two full bathrooms, a laundry room area, and a full kitchen. The building is currently used as a Spanish school, with the existing layout also identified as suitable for retail business or office use. An underground storm shelter is included, and no known restrictions are identified.
The property offers highway frontage in Princeton, TX, on an almost quarter-acre site. Built in 1965, the improvements provide an existing commercial setting with multiple interior areas and supporting facilities for a range of stated retail or office uses.
The property offers highway frontage in Princeton, TX, on an almost quarter-acre site. Built in 1965, the improvements provide an existing commercial setting with multiple interior areas and supporting facilities for a range of stated retail or office uses.
Key Highlights
- Highway frontage at 1821 FM 982 in Princeton, TX
- Almost a quarter‑acre property
- Two large living areas and 2 full bathrooms
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
$19,469
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
4.87%
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%
$389,380
$389.4K
Cap Rate 7%
$278,129
$278.1K
Cap Rate 9%
$216,322
$216.3K
Market Conditions
NOI Build-Up for 1,210 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
$29.2K $24.12/SF
− Vacancy
−$1.4K −$1.13/SF
EGI
$27.8K $22.99/SF
− OpEx
−$8.3K −$6.90/SF
NOI
$19.5K $16.09/SF
Area
Collin County, TX
Vacancy
4.70%
Lease Rate
$24.12 /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%
$389,380
Cap Rate 7%
$278,129
Cap Rate 9%
$216,322
Alternative Uses
Best Use
Retail
$278.1K
$243.4K – $324.5K
NOI $19,469 @ 7.0% cap · market cap 4.87%
Second Best
Office B
$219.2K
$191.8K – $255.8K
NOI $15,345 @ 7.0% cap · market cap 3.84%
Theoretical Best
Industrial
$1.20M
$1.05M – $1.40M
NOI $84,163 @ 7.0% cap · market cap 21.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75407, TX
25,738
Population
10,095
Households
2.5
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
49.9 sq mi
ZIP Area
516
Density / Sq Mi
$92,076
Median Household Income
$48,912
Median Earnings
$1,867
Median Rent
$307,500
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?
Storefront property - Existing improvements include flexible rooms, two full bathrooms, a kitchen, and a laundry area.
Where is this storefront property located?
The property is located at 1821 Fm 982 Princeton, TX.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Highway frontage at 1821 FM 982 in Princeton, TX; Almost a quarter‑acre property; Two large living areas and 2 full bathrooms
