Corner Flex Space with
For Sale
$649,900
1828 Bonham St, Paris, TX 75460
Versatile floor plan includes offices, meeting rooms, storage, kitchen-break space, and multiple entrances.
Property Size8,000 SF
Price / SF$81.24
Days on Market27
Property Features for 1828 Bonham St
General Information
Standard status
Active
Size
8,000 SF
Amenities
reception areas
private offices
meeting or training rooms
open showroom areas
storage space
fully equipped kitchen-break room
Building Details
Year Built
2002
Construction
brick and metal
Listing Agency:
Hygge Homes and Land
(903) 609-2050
Listed By:
Meagen Smith · License #0679901
Source:
Minteerteam
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 29 at 3:53PM
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 Hygge Homes and Land
Investment Insights
Based on property information with market context.
Built in 2002, this 8,000-square-foot flex property combines broad open areas with a range of supporting rooms. The interior includes reception areas, private offices, meeting or training rooms, showroom space, storage, and a kitchen-break area. Large storefront windows bring natural light into the building, while multiple entrances support flexible circulation. Updated flooring covers much of the interior, complemented by modern lighting and a brick exterior with metal façade.
The property occupies a prominent corner along Bonham Street in Paris, steps from the Paris water tower. Its position along a heavily traveled corridor provides strong street exposure, with convenient access to downtown, nearby businesses, restaurants, and retail. Ample paved parking and easy customer access further support a range of commercial configurations, including retail, office, event, fitness, medical, educational, showroom, or mixed-use operations.
The property occupies a prominent corner along Bonham Street in Paris, steps from the Paris water tower. Its position along a heavily traveled corridor provides strong street exposure, with convenient access to downtown, nearby businesses, restaurants, and retail. Ample paved parking and easy customer access further support a range of commercial configurations, including retail, office, event, fitness, medical, educational, showroom, or mixed-use operations.
Key Highlights
- 8,000‑square‑foot flex property built in 2002
- Prominent corner position along Bonham Street in Paris
- Large storefront windows and multiple entrances
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
$40,837
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
6.28%
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%
$816,740
$816.7K
Cap Rate 7%
$583,386
$583.4K
Cap Rate 9%
$453,744
$453.7K
Market Conditions
NOI Build-Up for 8,000 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
$64.3K $8.04/SF
− Vacancy
−$6.0K −$0.75/SF
EGI
$58.3K $7.29/SF
− OpEx
−$17.5K −$2.19/SF
NOI
$40.8K $5.10/SF
Area
Lamar County, TX
Vacancy
9.30%
Lease Rate
$8.04 /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%
$816,740
Cap Rate 7%
$583,386
Cap Rate 9%
$453,744
Alternative Uses
Best Use
Office B
$1.97M
$1.73M – $2.30M
NOI $138,240 @ 7.0% cap · market cap 21.27%
Second Best
Retail
$1.90M
$1.66M – $2.21M
NOI $132,787 @ 7.0% cap · market cap 20.43%
Theoretical Best
Hotel Hospitality
$6.03M
$5.27M – $7.03M
NOI $421,800 @ 7.0% cap · market cap 64.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
120
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75460, TX
22,925
Population
11,210
Households
2
Avg Household Size
38
Median Age
17%
College-Educated
88%
High-School Grad
101.9 sq mi
ZIP Area
225
Density / Sq Mi
$44,241
Median Household Income
$30,546
Median Earnings
$895
Median Rent
$123,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile floor plan includes offices, meeting rooms, storage, kitchen-break space, and multiple entrances.
Where is this flex space located?
The property is located at 1828 Bonham St Paris, TX.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 8,000‑square‑foot flex property built in 2002; Prominent corner position along Bonham Street in Paris; Large storefront windows and multiple entrances
