Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    High-Visibility Retail Building in Athens Title is generated by Realmo AI

    220 S Palestine St, Athens, TX 75751

    View on Map
    Claim this Listing
    For Sale
    $1,300,000

    COMMERCIAL - Athens, TX

    Property size:
    3,900 SF
    Lot size:
    0.78 Acres
    Price / SF:
    $333/SF
    Added:
    Apr 8, 2025
    Days on Market:
    419
    Last Refresh:
    May 31 at 1:06 pm

    Property Features for 220 S Palestine St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Retail
    Standard status
    Active
    APN
    3340.0016.0020.01
    Size
    3,900 SF
    Lot size
    0.78 Acres

    Taxes and HOA fees

    Tax Description
    Lots 2,3,4B, Block 16, Large Lots

    Building Details

    Year built
    2012

    We can help!

    Listing Contact
    Patricia McGuffey

    Listing agent Patricia McGuffey

    Listing office Steve Grant Real Estate, LLC. 406 E Corsicana St # 350, ATHENS, TX

    Listing date Apr 8, 2025

    MLS# 108743

    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.

    HighLights

    • High Visibility and Traffic: Located on S. Palestine with a significant 10,552 daily traffic count.
    • Prime Commercial Location: Situated just 2.5 blocks from the courthouse square and across from established businesses.
    • Flexible Space: Benefit from 3,900 SF of total space zoned for retail, suitable for various business types.
    • Income Potential: Features 1,500 SF currently leased to Treehouse Cupcakes.
    • Drive‑Thru Capability: Concrete parking area offers drive‑thru potential.
    • Large Lot Size: Property sits on a 0.78 acre (30,840 SF) lot with 177 ft frontage.

    Overview

    This 3,900 SF commercial building is located just 2.5 blocks from the courthouse square in Athens, TX, offering high visibility and traffic. The property, zoned for retail use, is suitable for a range of businesses. The building includes approximately 3,900 SF of total space, with 1,500 SF on the north side currently leased to Treehouse Cupcakes. The south side offers 2,400 SF of available space. The property features concrete parking with drive-thru capability and sits on a 0.78-acre lot (30,840 SF) with 177 ft of frontage on S. Palestine. Traffic count is 10,552 daily. The location is across from Schlotzsky's, a hardware store, and a furniture store. Previously home to two restaurants, this property is ideal for retail, dining, or service businesses.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $97.3k $24.96
    − Vacancy −$4.9k −$1.25
    EGI $92.5k $23.71
    − OpEx −$23.1k −$5.93
    NOI $69.4k $17.78
    3,900 SF · lease $24.96/SF/yr · vacancy 5.00% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $990.8K
    $867.0K – $1.16M (±1% cap)
    NOI $69,358 @ 7.0% cap · market cap 5.34%
    Second Best
    Retail
    $764.4K
    $668.8K – $891.8K (±1% cap)
    NOI $53,506 @ 7.0% cap · market cap 4.12%
    Theoretical Best
    Office A
    $1.37M
    $1.20M – $1.60M (±1% cap)
    NOI $96,034 @ 7.0% cap · market cap 7.39%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Treehouse Cupcakes & Frozen ... Bakery Dickey's Barbecue Pit Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Athens
    County
    Henderson
    State
    Texas
    Longitude
    -95.85413
    Latitude
    32.201736

    Nearby Similar for Sale

    • $1,695,000
      19,000 SF

      Versatile Commercial Property Near Highway

      6-acre commercial property with industrial building and office space.
      1391 Flat Creek, Athens, TX 75751
      View Details
    • $549,000

      Downtown Athens Commercial Building

      Prime commercial building in downtown Athens with high visibility.
      209 S Palestine Street, Athens, TX 75751
      View Details
    • $470,000

      Renovated Office Space in Athens

      Two-story renovated office space near town square in Athens, TX.
      214 E College Street, Athens, TX 75751
      View Details
    • $978,500
      4,164 SF

      Athens Country Estate on Acreage

      Spacious country estate with modern comforts on 9.2 acres.
      11591 Fm 59, Athens, TX 75751
      View Details
    • $995,000
      6,116 SF

      Athens Commercial Property with Acreage

      Multipurpose commercial property with office, warehouse, and storage space.
      6275 FM 59, Athens, TX 75751
      View Details
    • $625,000
      6,301 SF

      Downtown Athens Commercial Office Buildings

      Two commercial buildings in downtown Athens with income potential.
      110-112 E Corsicana St, Athens, TX 75751
      View Details
    • $259,000
      2,710 SF

      Commercial Building with Retail Zoning

      2710 SF commercial building with retail zoning on 0.505 acres.
      406 Lindsey Lane, Athens, TX 75751
      View Details
    • $625,000

      Downtown Athens Office Investment Opportunity

      Two commercial buildings in downtown Athens with income potential.
      110 E Corsicana Street, Athens, TX 75751
      View Details
    • $1,695,000

      Versatile Industrial Property Near Highway 31

      6-acre commercial property with industrial building and office space.
      1391 Flat Creek Road, Athens, TX 75751
      View Details
    • $1,695,000
      19,000 SF

      Versatile Commercial Property Near Highway 31

      6-acre commercial property with industrial building and office space.
      1391 Flat Creek Rd, Athens, TX 75751
      View Details
    • $650,000

      Versatile Building Near Athens Square

      16,971 SF building on 1.31 acres, retail zoning.
      201-209 S Prairieville Street, Athens, TX 75751
      View Details
    • $1,300,000

      High-Visibility Retail Opportunity in Athens

      3,900 SF commercial building with high traffic and visibility.
      220 S Palestine Street, Athens, TX 75751
      View Details

    FAQs

    What type of property is this?
    Retail space - 3,900 SF commercial building in high-traffic area of Athens.
    Where is this retail space located?
    The property is located at 220 S Palestine St Athens, TX.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: High Visibility and Traffic: Located on S. Palestine with a significant 10,552 daily traffic count.; Prime Commercial Location: Situated just 2.5 blocks from the courthouse square and across from established businesses.; Flexible Space: Benefit from 3,900 SF of total space zoned for retail, suitable for various business types.
    (903) 681-3530
    We can help!
    Listing Contact
    Patricia McGuffey
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    220 S Palestine St, Athens, TX 75751
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!