Historic Mixed-Use
For Sale
Contact for pricing
218-220 W Main St, Denison, TX 75020
Two connected buildings combine warehouse-style space, restaurant infrastructure, and an unfinished loft within a historic district.
Property Size9,000 SF
Price / SF$133.33
Days on Market117
Property Features for 218-220 W Main St
General Information
Standard status
Active
Size
9,000 SF
Property subtype
Retail, Hospitality, Mixed Use
Zoning
Historical District - Main St Denison
Investment Type
Owner/User
Additional Details
Road Access
Yes
Building Details
Year Built
1890
Year Renovated
1990
Buildings
2
Stories
2
Listing Agency:
Bertholf Commercial Real Estate
(903) 267-1573
Listed By:
Evan Ramsey · License #TX 845775-SA
Source:
Crexi
Added: May 6
Changed: Aug 30
Last Checked: Aug 30 at 5:53AM
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 Bertholf Commercial Real Estate
Investment Insights
Based on property information with market context.
Constructed in 1890, the property comprises two connected buildings with approximately 9,000 square feet combined. The larger building contains about 6,000 square feet in an open warehouse-style configuration with industrial character. The adjoining 3,000-square-foot building includes a bar area, dining room, and commercial kitchen. An unfinished loft sits above the restaurant-oriented space and adds additional interior area for future buildout, storage, office use, or private events.
The property is located at 218-220 W Main St in downtown Denison and is zoned Historical District - Main St Denison. Its layout brings together large-format open space and an existing hospitality configuration within a single mixed-use property.
The property is located at 218-220 W Main St in downtown Denison and is zoned Historical District - Main St Denison. Its layout brings together large-format open space and an existing hospitality configuration within a single mixed-use property.
Key Highlights
- Approximately 9,000 square feet across two connected buildings
- 6,000‑square‑foot open warehouse‑style space with industrial character
- 3,000‑square‑foot hospitality area with bar, dining room, and commercial kitchen
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
$89,100
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
7.43%
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%
$1,782,000
$1.8M
Cap Rate 7%
$1,272,857
$1.3M
Cap Rate 9%
$990,000
$990.0K
Market Conditions
NOI Build-Up for 9,000 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
$162.0K $18.00/SF
− Vacancy
−$19.4K −$2.16/SF
EGI
$142.6K $15.84/SF
− OpEx
−$53.5K −$5.94/SF
NOI
$89.1K $9.90/SF
Area
Grayson County, TX
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,782,000
Cap Rate 7%
$1,272,857
Cap Rate 9%
$990,000
Alternative Uses
Best Use
Specialty Retail
$2.29M
$2.00M – $2.67M
NOI $160,056 @ 7.0% cap · market cap 13.34%
Second Best
Retail
$2.13M
$1.87M – $2.49M
NOI $149,386 @ 7.0% cap · market cap 12.45%
Theoretical Best
Hotel Hospitality
$4.62M
$4.04M – $5.39M
NOI $323,190 @ 7.0% cap · market cap 26.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
858
Businesses Nearby
Explore this area
Business Placement
Demographics for 75020, TX
23,782
Population
10,802
Households
2.2
Avg Household Size
42
Median Age
19%
College-Educated
90%
High-School Grad
61.0 sq mi
ZIP Area
390
Density / Sq Mi
$66,308
Median Household Income
$38,656
Median Earnings
$1,136
Median Rent
$187,200
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?
Mixed-use property - Two connected buildings combine warehouse-style space, restaurant infrastructure, and an unfinished loft within a historic district.
Where is this mixed-use property located?
The property is located at 218-220 W Main St Denison, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approximately 9,000 square feet across two connected buildings; 6,000‑square‑foot open warehouse‑style space with industrial character; 3,000‑square‑foot hospitality area with bar, dining room, and commercial kitchen
