Flex Building with Shop
For Sale
$259,900
1865 N Main, Paris, TX 75460
Office, loft, apartment, restroom, and multiple doors support a flexible commercial layout.
Property Size3,600 SF
Price / SF$72.19
Days on Market27
Property Features for 1865 N Main
General Information
Standard status
Active
Size
3,600 SF
Building Details
Year Built
1974
Buildings
1
Listing Agency:
Lonestar Realty
(903) 785-1333
Listed By:
Peggy Finney · License #0440072
Source:
Minteerteam
Added: Aug 3
Changed: Aug 28
Last Checked: Aug 28 at 8:55PM
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 Lonestar Realty
Investment Insights
Based on property information with market context.
This 3,600-square-foot flex property in Paris, TX, was built in 1974 and sits on almost an acre. The shop measures 95 X 40 and includes three overhead doors, two side doors, and a main front entrance. Interior features include a loft area and a separate restroom serving the shop. An office connects to a one-bedroom apartment with one full bathroom and shower.
Three AC units serve the property, with two allocated to the shop and one covering the office and apartment. The site offers parking and quick access to the Loop from 1865 N Main, providing a practical setup for a business requiring shop, office, and residential components.
Three AC units serve the property, with two allocated to the shop and one covering the office and apartment. The site offers parking and quick access to the Loop from 1865 N Main, providing a practical setup for a business requiring shop, office, and residential components.
Key Highlights
- 3,600‑square‑foot flex property on almost an acre
- 95 X 40 shop with 3 overhead doors and 2 side doors
- Office connects to a one‑bedroom apartment with 1 full bathroom and shower
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
$22,314
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
8.59%
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%
$446,280
$446.3K
Cap Rate 7%
$318,771
$318.8K
Cap Rate 9%
$247,933
$247.9K
Market Conditions
NOI Build-Up for 3,600 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
$28.9K $8.04/SF
− Vacancy
−$2.7K −$0.75/SF
EGI
$26.3K $7.29/SF
− OpEx
−$3.9K −$1.09/SF
NOI
$22.3K $6.20/SF
Area
Lamar County, TX
Vacancy
9.30%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
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%
$446,280
Cap Rate 7%
$318,771
Cap Rate 9%
$247,933
Alternative Uses
Best Use
Warehouse
$318.8K
$278.9K – $371.9K
NOI $22,314 @ 7.0% cap · market cap 8.59%
Second Best
Industrial
$262.5K
$229.7K – $306.3K
NOI $18,377 @ 7.0% cap · market cap 7.07%
Theoretical Best
Hotel Hospitality
$2.71M
$2.37M – $3.16M
NOI $189,810 @ 7.0% cap · market cap 73.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
Well-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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office, loft, apartment, restroom, and multiple doors support a flexible commercial layout.
Where is this flex space located?
The property is located at 1865 N Main Paris, TX.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 3,600‑square‑foot flex property on almost an acre; 95 X 40 shop with 3 overhead doors and 2 side doors; Office connects to a one‑bedroom apartment with 1 full bathroom and shower
