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    Historic Downtown Retail Building Title is generated by Realmo AI

    221 S Main, McGregor, TX 76657

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    Claim this Listing
    For Sale
    $299,000

    SINGLE_FAMILY - McGregor, TX

    Type:Retail
    Property size:
    7,000 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $42/SF
    Added:
    May 21, 2026
    Days on Market:
    14
    Last Refresh:
    Jun 3 at 1:06 am

    Property Features for 221 S Main

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Parking features
    Alley
    Standard status
    Active
    APN
    137722
    Lot size
    0.12 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1905
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Hardwood
    Building materials
    Block, Rock, Stone
    Roof type
    Metal

    We can help!

    Listing Contact
    Daniel Grant

    Listing agent Daniel Grant License #0639487

    Listing office Daniel Grant TX

    Listing date May 21, 2026

    MLS# 20981745

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Nearly 7,000 sq ft of historic storefront space on main street in downtown McGregor, TX
    • Downstairs features 3 individual spaces; 2 are in 'white box' condition and 1 is partially finished as office space with HVAC and restrooms
    • Upstairs offers over 3,000 sq ft of open‑span space with 12+ ft high ceilings
    • Roof structure overhaul completed in 2024, plus many other repairs for preservation of the building
    • Central heating (natural gas) and central air; public water and public sewer
    • Metal roof with hardwood flooring; parking provided via alley

    Overview

    This historic retail building offers nearly 7,000 square feet of storefront space arranged across two levels. The downstairs includes three individual spaces, with two units delivered in “white box” condition and a third partially finished as office space, already equipped with HVAC and restrooms. Upstairs provides over 3,000 square feet of open-span area with 12+ foot high ceilings, offering a highly adaptable floorplate for a variety of concepts.

    Located on Main Street in downtown McGregor, the property is set on a compact 0.12-acre site and presents a true street-facing retail presentation. The offering includes a roof structure overhaul completed in 2024, along with other repairs designed to support the building’s preservation and ongoing use.

    For investors, this configuration supports multiple income streams through the separate downstairs spaces while also allowing upside through customization of the large upstairs open area. For operators or owner-occupants, the combination of “white box” retail units and an office-ready downstairs space can align with retail, service, or professional uses, with the upstairs open layout suited to a tenant mix that benefits from volume and ceiling height.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Discount Store Garden Center Cafe & Coffee Shop Clothing & Fashion Store Computer & Electronic Repair Veterinary Clinic Barber Shop Home Appliance Store Nursing Home (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    McGregor
    County
    McLennan
    State
    Texas
    Longitude
    -97.406684
    Latitude
    31.439873

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    FAQs

    What type of property is this?
    Storefront property - Multi-level storefront and office-ready space with flexible open-area layout and recent roof work in place.
    Where is this storefront property located?
    The property is located at 221 S Main McGregor, TX.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Nearly 7,000 sq ft of historic storefront space on main street in downtown McGregor, TX; Downstairs features 3 individual spaces; 2 are in 'white box' condition and 1 is partially finished as office space with HVAC and restrooms; Upstairs offers over 3,000 sq ft of open‑span space with 12+ ft high ceilings
    (512) 965-7307
    We can help!
    Listing Contact
    Daniel Grant
    Real Estate License ID: 0639487
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    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.

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