Historic Old Town Mixed-Use
For Sale
Contact for pricing
191 W Main St, Lewisville, TX 75057
Three-story, 24,000 SF building in revitalized Old Town Lewisville.
Property Size24,273 SF
Price / SF$288.39
Days on Market186
Property Features for 191 W Main St
General Information
Standard status
Active
Size
24,273 SF
Class
A
Property subtype
Mixed Use, Office, Retail
Zoning
OTC
Lease Type
NNN
Building Details
Year Built
2025
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Nack Realty
Listed By:
Alyssa Mitchell · License #790342
Source:
Crexi
Added: Feb 17
Changed: Aug 14
Last Checked: Aug 20 at 3:12PM
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 Nack Realty
Investment Insights
Based on property information with market context.
This three-story building offers 24,000 square feet of space in the heart of the revitalized Historic Old Town Lewisville, located at the intersection of Main and St. Charles. The property is suitable for a variety of uses, including office space, retail, restaurant, and medical facilities. Additional parking will be available in a public parking garage currently under construction across the street. The property is located within a designated opportunity zone.
Key Highlights
- Prime location in the heart of revitalized Historic Old Town Lewisville, at the intersection of Main and St. Charles.
- 24,000 square foot, three‑story building suitable for office, retail, restaurant, or medical facilities.
- New construction (Year Built: 2025).
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
$449,366
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
6.42%
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%
$8,987,320
$9.0M
Cap Rate 7%
$6,419,514
$6.4M
Cap Rate 9%
$4,992,956
$5.0M
Market Conditions
NOI Build-Up for 24,273 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
$801.0K $33.00/SF
− Vacancy
−$201.9K −$8.32/SF
EGI
$599.2K $24.68/SF
− OpEx
−$149.8K −$6.17/SF
NOI
$449.4K $18.51/SF
Area
Lewisville, TX
Vacancy
25.20%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
25.00%
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%
$8,987,320
Cap Rate 7%
$6,419,514
Cap Rate 9%
$4,992,956
Alternative Uses
Best Use
Office B
$6.42M
$5.62M – $7.49M
NOI $449,366 @ 7.0% cap · market cap 6.42%
Second Best
Specialty Retail
$5.97M
$5.23M – $6.97M
NOI $418,022 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$8.09M
$7.08M – $9.44M
NOI $566,474 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,504
Businesses Nearby
Explore this area
Business Placement
Demographics for 75057, TX
16,001
Population
7,171
Households
2.2
Avg Household Size
31
Median Age
29%
College-Educated
83%
High-School Grad
13.3 sq mi
ZIP Area
1,203
Density / Sq Mi
$76,128
Median Household Income
$43,253
Median Earnings
$1,589
Median Rent
$208,500
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?
Mixed-use property - Three-story, 24,000 SF building in revitalized Old Town Lewisville.
Where is this mixed-use property located?
The property is located at 191 W Main St Lewisville, TX.
What is the asking price?
The asking price for this property is $6,999,999.
What are key features of this property?
This property features: Prime location in the heart of revitalized Historic Old Town Lewisville, at the intersection of Main and St. Charles.; 24,000 square foot, three‑story building suitable for office, retail, restaurant, or medical facilities.; New construction (Year Built: 2025).
