Building Details

Year Built 1928

Listing Agency: Real Estate Market Experts

Listed By: Steven Nieves · License #0564807 Show Phone

Source: Christenberrygroup

Added: Jul 27 Changed: Oct 3 Last Checked: Oct 7 at 1:47PM

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Investment Insights

Based on property information with market context.

Built in 1928, this 5,100-square-foot flex space at 201 N Main St in Maypearl offers an open-concept interior and a refreshed storefront. Recent improvements include a new roof and storefront renovation, combining updated exterior elements with a layout that can be reworked for different commercial applications.

The property information identifies restaurant, office, and auto service uses as potential directions for the space. Its adaptable configuration provides a broad framework for an owner or operator seeking commercial premises in Maypearl.

Key Highlights

• 5,100‑square‑foot commercial building
• Built in 1928
• Open‑concept interior

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,437

Cap Rate

3.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$528,740 $528.7K

Cap Rate 7%

$377,671 $377.7K

Cap Rate 9%

$293,744 $293.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,100 SF

Gross rent

$41.4K $8.12/SF

− Vacancy

−$3.6K −$0.71/SF

EGI

$37.8K $7.41/SF

− OpEx

−$11.3K −$2.22/SF

NOI

$26.4K $5.18/SF

Area

Ellis County, TX

Vacancy

8.80%

Lease Rate

$8.12 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$528,740

Cap Rate 7%

$377,671

Cap Rate 9%

$293,744

Alternative Uses

Best Use

Retail

$1.21M

$1.06M – $1.41M (±1% cap)

NOI $84,652 @ 7.0% cap · market cap 10.58%

Second Best

Industrial

$377.7K

$330.5K – $440.6K (±1% cap)

NOI $26,437 @ 7.0% cap · market cap 3.30%

Theoretical Best

Multifamily LT 5

$55.65M

$48.69M – $64.92M (±1% cap)

NOI $3,895,458 @ 7.0% cap · market cap 486.93%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Big Wheel And Tire (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Electrical Service Building Supply Auto Parts Store Storage Facility Bakery Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

115

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 76064, TX

1,929

Population

1,022

Households

1.9

Avg Household Size

36

Median Age

28%

College-Educated

76%

High-School Grad

21.7 sq mi

ZIP Area

89

Density / Sq Mi

$70,326

Median Household Income

$35,430

Median Earnings

$1,398

Median Rent

$317,400

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Frequently Asked Questions

What type of property is this?

Flex space - Open-concept interior, new roof, and renovated storefront provide a flexible commercial starting point.

Where is this flex space located?

The property is located at 201 N Main St Maypearl, TX.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: 5,100‑square‑foot commercial building; Built in 1928; Open‑concept interior