Downtown Athens Commercial
209 S Palestine St, Athens, TX 75751
For Sale
$549,000
Versatile commercial building in downtown Athens with showroom and warehouse.
Property Size9,100 SF
Lot Size0.58 Acres
Price / SF$60.33
Days on Market589
Property Features for 209 S Palestine St
General Information
Standard status
Size
Lot size
Taxes and HOA fees
Annual Taxes
Listing Agency:
Keller Williams Rockwall
Listed By:
Bradford Rummel
(972) 772-7000
Source:
Exprealty
Added: Apr 4, 2025
Changed: Aug 8
Last Checked: Jul 15 at 8:27PM
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 Keller Williams Rockwall
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located in downtown Athens, this commercial building offers 9,100 square feet of space suitable for various business ventures. The property includes 4,500 square feet of showroom and office space, ideal for customer-facing operations or professional offices. Additionally, there is a 4,600-square-foot warehouse and shop area, providing spacious and functional space for storage, production, or distribution. The building also features floored upstairs storage space with a lift for easy access. The property's versatility makes it suitable for retail, service, or industrial use.
Key Highlights
- Prime downtown Athens location with high visibility.
- 9,100 SF total space suitable for various business types.
- 4,500 SF showroom & office space ideal for customer‑facing operations.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,249
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$944,980
$945.0K
Cap Rate 7%
$674,986
$675.0K
Cap Rate 9%
$524,989
$525.0K
Market Conditions
NOI Build-Up for 9,100 SF
Gross rent
$74.3K $8.16/SF
− Vacancy
−$6.8K −$0.74/SF
EGI
$67.5K $7.42/SF
− OpEx
−$20.2K −$2.23/SF
NOI
$47.2K $5.19/SF
Area
Henderson County, TX
Vacancy
9.10%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$944,980
Cap Rate 7%
$674,986
Cap Rate 9%
$524,989
Alternative Uses
Best Use
Office B
$2.17M
$1.90M – $2.54M
NOI $152,216 @ 7.0% cap · market cap 27.73%
Second Best
Retail
$1.78M
$1.56M – $2.08M
NOI $124,846 @ 7.0% cap · market cap 22.74%
Theoretical Best
Office A
$3.20M
$2.80M – $3.73M
NOI $224,078 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
739
Businesses Nearby
Explore this area
Business Placement
Demographics for 75751, TX
17,100
Population
7,432
Households
2.3
Avg Household Size
39
Median Age
20%
College-Educated
85%
High-School Grad
180.4 sq mi
ZIP Area
95
Density / Sq Mi
$71,524
Median Household Income
$31,897
Median Earnings
$1,063
Median Rent
$205,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile commercial building in downtown Athens with showroom and warehouse.
Where is this mixed-use property located?
The property is located at 209 S Palestine St Athens, TX.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Prime downtown Athens location with high visibility.; 9,100 SF total space suitable for various business types.; 4,500 SF showroom & office space ideal for customer‑facing operations.**
