Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Historic Downtown Mixed-Use Building Title is generated by Realmo AI

    2 S Plaza St, Ladonia, TX 75449

    View on Map
    Claim this Listing
    For Sale
    $345,000

    Revitalized late Victorian brick building with a wide-open interior adaptable for retail, office, or restaurant concepts.

    Added:
    Apr 16, 2026
    Days on Market:
    49
    Last Refresh:
    Jun 3 at 2:43 am

    Property Features for 2 S Plaza St

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Ashley Hammons
    Ashley Hammons

    Listing agent Ashley Hammons License #0615230

    Listing office AT Home Texas Real Estate

    Listing date Apr 16, 2026

    Source Exprealty

    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 AT Home Texas Real Estate

    HighLights

    • Revitalized late Victorian brick building originally built for C.S. McFarland
    • Wide‑open interior layout adaptable for retail, office, restaurant, event space, or creative redevelopment
    • Large windows for natural light and visibility into the flexible interior
    • Prominent corner presence with classic architectural details
    • Interior blends historic charm with modern updates

    Overview

    Introducing The McFarland Building, a late Victorian brick structure originally built for C.S. McFarland and recognized for its distinctive architectural character. The property has been thoughtfully revitalized, bringing together historic details and modern updates. Inside, the space features a wide-open layout designed to support a variety of commercial uses, including retail, office, restaurant, event space, or creative redevelopment. Large windows help bring in natural light and highlight the building’s classic design elements. Its prominent corner presence further reinforces visibility and street presence.

    Set in the heart of its downtown district, the building benefits from an established, community-centered setting. The property is just minutes from Ralph Hall Lake, positioning it to align with anticipated area growth, increased tourism, and broader economic development.

    This asset offers an appealing fit for operators seeking flexible space that can be shaped to different business formats, as well as investors looking for a recognizable, adaptable building in an evolving market. Whether the goal is to establish a destination-oriented retail or dining concept, create a workspace with modern functionality, or pursue an event and creative program, the interior configuration and natural-lighting support multiple paths to utilization.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Dental Office Gym & Fitness Center Kitchen & Bath Showroom Food Market Accounting Firm Grocery & Convenience Store Discount Store Cafe & Coffee Shop Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ladonia
    County
    Fannin
    State
    Texas
    Longitude
    -95.9467861
    Latitude
    33.4249383

    Nearby Similar for Sale

    • $345,000

      Historic Corner Retail Building

      Revitalized late-Victorian brick building with a wide-open, light-filled interior suited to retail, office, or restaurant use.
      2 S Side Plaza, Ladonia, TX 75449
      View Details
    • $1,250,000

      Newer RV Park with Pull-Through Sites

      Constructed in 2023, this 53-slot RV park provides individually metered electric plus water and sewer hookups for steady tenant demand.
      2141 Hwy 64, Ladonia, TX 75449
      View Details
    • $345,000

      Historic McFarland Building in Ladonia

      Iconic Victorian building in downtown Ladonia, revitalized with modern updates.
      2 S Side Plaza, Ladonia, TX 75449
      View Details

    FAQs

    What type of property is this?
    Office building - Revitalized late Victorian brick building with a wide-open interior adaptable for retail, office, or restaurant concepts.
    Where is this office building located?
    The property is located at 2 S Plaza St Ladonia, TX.
    What is the asking price?
    The asking price for this property is $345,000.
    What are key features of this property?
    This property features: Revitalized late Victorian brick building originally built for C.S. McFarland; Wide‑open interior layout adaptable for retail, office, restaurant, event space, or creative redevelopment; Large windows for natural light and visibility into the flexible interior
    (903) 454-2824
    We can help!
    Listing Contact
    Ashley Hammons
    Ashley Hammons
    Real Estate License ID: 0615230
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2 S Plaza St, Ladonia, TX
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!