Fully Leased Shopping
For Sale
$4,112,903
210220 CRESTWAY Drive, Athens, TX 75751
Two commercial buildings house restaurant, retail, and professional office tenants.
Property Size20,590 SF
Price / SF$199.75
Days on Market11
Property Features for 210220 CRESTWAY Drive
General Information
Standard status
Active
Size
20,590 SF
Property subtype
Retail
Occupancy
100%
Amenities
Electric
3
Building Details
Year Built
2006
Buildings
2
Tenancy
Multi
Listing Agency:
Stewart & McGee Real Estate
(903) 675-5207
Listed By:
Julie Stewart · License #0391806
Source:
Xome
Added: Aug 7
Changed: Aug 17
Last Checked: Aug 17 at 4:10AM
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 Stewart & McGee Real Estate
Investment Insights
Based on property information with market context.
This shopping center offering comprises two commercial buildings at 210 and 220 Crestway Drive in Athens, Texas, totaling 20,590 square feet. Constructed in 2006, the property is fully leased and occupied by a mix of restaurant, retail, and professional office businesses.
Restaurant occupants include Domino’s, Kia Asian, and Roost. The tenant roster also includes Buddy’s, a smoke shop, nail and hair salons, a dental practice, and a home health provider, creating varied commercial uses across the center. The property is positioned at a busy Athens intersection with visibility and access noted as key site characteristics.
Restaurant occupants include Domino’s, Kia Asian, and Roost. The tenant roster also includes Buddy’s, a smoke shop, nail and hair salons, a dental practice, and a home health provider, creating varied commercial uses across the center. The property is positioned at a busy Athens intersection with visibility and access noted as key site characteristics.
Key Highlights
- 20,590‑square‑foot shopping center offering
- Two commercial buildings at 210 and 220 Crestway Drive
- 100% occupied by 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
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
312k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Superstores 23%
Shops & Services 16%
Groceries 11%
Walmart
Superstores
71,445 visits/mo
0.4 miles
Brookshire's
Groceries
33,055 visits/mo
0.4 miles
McDonald's
Dining
25,654 visits/mo
0.1 miles
Murphy USA
Shops & Services
24,410 visits/mo
0.4 miles
Chili's Grill & Bar
Dining
14,039 visits/mo
0.3 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 house restaurant, retail, and professional office tenants.
Where is this shopping center located?
The property is located at 210220 CRESTWAY Drive 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 offering; Two commercial buildings at 210 and 220 Crestway Drive; 100% occupied by restaurant, retail, and professional office tenants
