Fully Leased Shopping
New
For Sale
$4,112,903
210/220 Crestway Dr, Athens, TX 75751
COMMERCIAL - Athens, TX
Property Size20,590 SF
Price / SF$199.75
Days on Market2
Property Features for 210/220 Crestway Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commeri
Subdivision
Henderson
Standard status
Active
APN
0171.0910.0A00.01
Size
20,590 SF
Taxes and HOA fees
Tax Description
SEE AGENT REMARKS
Legal Description
SEE AGENT REMARKS
Building Details
Year built
2006
Listing Agency:
Stewart & McGee Real Estate, LLC.
(903) 675-5207
Listed By:
Julie Stewart · License #0391806
(903) 804-8003
Added: Aug 7
Last Checked: Aug 8 at 5:06AM
MLS# 113289
Copyright © 2026 Henderson County Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This shopping center includes two commercial buildings totaling 20,590 square feet in Athens, Texas. Constructed in 2006, the property is fully occupied by a combination of restaurant, retail, and professional office businesses. The tenant roster includes Domino's, Kia Asian, Roost, Buddy's, a smoke shop, a nail salon, a hair salon, a dental practice, and a home health provider.
The property serves multiple commercial categories within one center, including dining, personal services, retail, and office uses. The two-building configuration and established occupancy provide a diverse operating profile, while the location in Athens places the asset within the East Texas community.
The property serves multiple commercial categories within one center, including dining, personal services, retail, and office uses. The two-building configuration and established occupancy provide a diverse operating profile, while the location in Athens places the asset within the East Texas community.
Key Highlights
- Two commercial buildings totaling 20,590 square feet
- 100% occupied by restaurant, retail, and professional office tenants
- Tenant roster includes Domino's, Kia Asian, Roost, and Buddy's
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
$366,173
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
8.90%
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%
$7,323,460
$7.3M
Cap Rate 7%
$5,231,043
$5.2M
Cap Rate 9%
$4,068,589
$4.1M
Market Conditions
NOI Build-Up for 20,590 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
$513.9K $24.96/SF
− Vacancy
−$25.7K −$1.25/SF
EGI
$488.2K $23.71/SF
− OpEx
−$122.1K −$5.93/SF
NOI
$366.2K $17.78/SF
Area
Henderson County, TX
Vacancy
5.00%
Lease Rate
$24.96 /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%
$7,323,460
Cap Rate 7%
$5,231,043
Cap Rate 9%
$4,068,589
Alternative Uses
Best Use
Specialty Retail
$5.23M
$4.58M – $6.10M
NOI $366,173 @ 7.0% cap · market cap 8.90%
Second Best
Office B
$4.92M
$4.31M – $5.74M
NOI $344,410 @ 7.0% cap · market cap 8.37%
Theoretical Best
Office A
$7.24M
$6.34M – $8.45M
NOI $507,008 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Two commercial buildings house restaurant, retail, and professional office tenants.
Where is this shopping center located?
The property is located at 210/220 Crestway Dr Athens, TX.
What is the asking price?
The asking price for this property is $4,112,903.
What are key features of this property?
This property features: Two commercial buildings totaling 20,590 square feet; 100% occupied by restaurant, retail, and professional office tenants; Tenant roster includes Domino's, Kia Asian, Roost, and Buddy's
