Fully Leased Shopping
For Sale
$4,112,903
210/220 CRESTWAY DR, Athens, TX 75751
Commercial Sale, Athens, TX
Property Size20,590 SF
Lot Size1.00 Acre
Price / SF$199.75
Days on Market12
Property Features for 210/220 CRESTWAY DR
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Inside City Limits
Directions
Intersection of Hwy 31 E and Crestway Drive. From Athens take Tyler Street (Hwy. 31 E toward Tyler) and the intersection is approx 1.3 miles from the Courthouse Square.
Standard status
Active
Size
20,590 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
47283
Utilities
Sewer type
Public Sewer
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2006
Building materials
Stone, Stucco
Listing Agency:
Stewart & McGee Real Estate
(903) 675-5207
Listed By:
Julie Stewart · License #0391806
(903) 804-8003
Added: Aug 11
Changed: Aug 20
Last Checked: Aug 22 at 2:06PM
MLS# 26011227
Copyright © 2026 Greater Tyler Association 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 comprises two commercial buildings at 210 and 220 Crestway Street, totaling 20,590 square feet on 1 acre. Built in 2006, the improvements feature stone and stucco construction, central air, electric cooling, public water, and public sewer. The property is fully occupied, with restaurant, retail, and professional office users represented across the tenant mix.
Occupants include 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 buildings are positioned at a busy Athens intersection with convenient access and strong daily customer exposure. Located in Henderson County within the East Texas market, the property offers an established commercial setting with multiple business categories operating on-site.
Occupants include 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 buildings are positioned at a busy Athens intersection with convenient access and strong daily customer exposure. Located in Henderson County within the East Texas market, the property offers an established commercial setting with multiple business categories operating on-site.
Key Highlights
- 20,590‑square‑foot shopping center on 1 acre
- Two commercial buildings at 210 and 220 Crestway Street
- 100% occupied with restaurant, retail, and professional office tenants
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
$282,482
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
6.87%
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%
$5,649,640
$5.6M
Cap Rate 7%
$4,035,457
$4.0M
Cap Rate 9%
$3,138,689
$3.1M
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
$412.6K $20.04/SF
− Vacancy
−$9.1K −$0.44/SF
EGI
$403.5K $19.60/SF
− OpEx
−$121.1K −$5.88/SF
NOI
$282.5K $13.72/SF
Area
Henderson County, TX
Vacancy
2.20%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
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%
$5,649,640
Cap Rate 7%
$4,035,457
Cap Rate 9%
$3,138,689
Alternative Uses
Best Use
Retail
$4.04M
$3.53M – $4.71M
NOI $282,482 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
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
324
Businesses Nearby
319k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Superstores 22%
Shops & Services 15%
Home Improvements & Furnishings 5%
Walmart
Superstores
71,445 visits/mo
0.4 miles
McDonald's
Dining
25,654 visits/mo
0.2 miles
Murphy USA
Shops & Services
24,410 visits/mo
0.3 miles
Tractor Supply Co.
Home Improvements & Furnishings
14,820 visits/mo
0.5 miles
Chili's Grill & Bar
Dining
14,039 visits/mo
0.5 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Two commercial buildings offer a diversified mix of restaurant, retail, and professional office occupants in Athens.
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: 20,590‑square‑foot shopping center on 1 acre; Two commercial buildings at 210 and 220 Crestway Street; 100% occupied with restaurant, retail, and professional office tenants
