Remodeled Dental Medical
For Sale
$499,000
189 Historic Town Square, Lancaster, TX 75146
CommercialSale, Lancaster, TX
Property Size1,400 SF
Lot Size0.04 Acres
Price / SF$356.43
Days on Market49
Property Features for 189 Historic Town Square
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
On Street
Security features
Security
Subdivision
Original Town Of Lancaster
Lot features
Historic District
Directions
From 1H-20 W take exit 472 toward Bonnie View Rd. Left onto Bonnie View Rd, Right onto E Second Street. Left onto N Henry Street, Right onto E Main Street, Enter the roundabout Historic Square The destination is on your Right 189.
Standard status
Active
APN
36000500030060000
Lot size
0.04 Acres
Additional Details
Property Use
Dental
Condition
Move-in Ready
Medical Specialty
dental
Taxes and HOA fees
Tax Description
ORIG TOWN LANCASTER BLK 3 PT LOTS 9 & 10 32X4
Tax Annual Amount
1131
Legal Description
ORIG TOWN LANCASTER BLK 3 PT LOTS 9 & 10 32X4
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Ceiling Fan(s), Electric
Water source
Public
Building Details
Year built
1920
Floors in Building
1
Number of units
1
Flooring type
Tile
Building materials
Brick
Roof type
Flat
Buildings
1
Listing Agency:
Caprice Michelle, LLC
Listed By:
Caprice Michelle
(214) 789-7364
Added: Sep 11
Changed: Oct 26
Last Checked: Oct 29 at 8:06AM
MLS# 21384612
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.
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Investment Insights
Based on property information with market context.
This freestanding brick medical office at 189 Historic Town Square includes a 1,400 SF remodeled dental facility with a reception and waiting area, 4 operatories, lab space, a private office, storage, and an additional bathroom. Tile flooring, central heating and cooling, electric service, and ceiling fans are present throughout the property. Built in 1920, the building has supported continuous dental practice at this site for 100 years.
The property is located on Lancaster’s historic square in Lancaster, TX. On-street parking surrounds the building, and the property is served by public water and public sewer. Its flat roof and brick construction complete the existing commercial improvements.
The property is located on Lancaster’s historic square in Lancaster, TX. On-street parking surrounds the building, and the property is served by public water and public sewer. Its flat roof and brick construction complete the existing commercial improvements.
Key Highlights
- 1,400 SF remodeled dental facility
- 4 operatories with lab space and private office
- Freestanding brick building constructed in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,905
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$398,100
$398.1K
Cap Rate 7%
$284,357
$284.4K
Cap Rate 9%
$221,167
$221.2K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$36.5K $26.04/SF
− Vacancy
−$3.3K −$2.34/SF
EGI
$33.2K $23.70/SF
− OpEx
−$13.3K −$9.48/SF
NOI
$19.9K $14.22/SF
Area
Dallas County, TX
Vacancy
9.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$398,100
Cap Rate 7%
$284,357
Cap Rate 9%
$221,167
Alternative Uses
Best Use
Healthcare Medical
$284.4K
$248.8K – $331.8K
NOI $19,905 @ 7.0% cap · market cap 3.99%
Second Best
Office B
$283.5K
$248.1K – $330.8K
NOI $19,845 @ 7.0% cap · market cap 3.98%
Theoretical Best
Multifamily LT 5
$16.78M
$14.68M – $19.58M
NOI $1,174,692 @ 7.0% cap · market cap 235.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
315
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 75146, TX
23,837
Population
9,575
Households
2.5
Avg Household Size
35
Median Age
27%
College-Educated
87%
High-School Grad
34.7 sq mi
ZIP Area
687
Density / Sq Mi
$70,143
Median Household Income
$42,889
Median Earnings
$1,560
Median Rent
$249,000
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Remodeled medical office with operatories, lab space, private office, storage, and an additional bathroom.
Where is this medical office space located?
The property is located at 189 Historic Town Square Lancaster, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1,400 SF remodeled dental facility; 4 operatories with lab space and private office; Freestanding brick building constructed in 1920
