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    Retail Strip Center with Highway Exposure Title is generated by Realmo AI

    2327 S 57th St, Temple, TX 76504

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    Claim this Listing
    New
    For Sale
    $4,465,000

    Well-positioned retail center on Loop 363 with strong daily visibility and convenient access for shoppers and tenants.

    Type:Shopping Strip
    Property size:
    44,068 SF
    Lot size:
    3.05 Acres
    Price / SF:
    $101/SF
    Added:
    Jun 1, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 3 at 1:49 am

    Property Features for 2327 S 57th St

    General Information

    Standard status
    Active
    Size
    44,068 SF
    Lot size
    3.05 Acres
    Property subtype
    Shopping Strip

    Building Details

    Year Built
    1974

    We can help!

    Listing Contact
    Scott Jones
    Scott Jones

    Listing agent Scott Jones License #License(s): TX: 81153

    Listing office Houston Office

    Listing date Jun 1, 2026

    Source Marcusmillichap

    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 Houston Office

    HighLights

    • 44,068 SF retail center on 3.05 acres built in 1974
    • Located on Loop 363 (Highway 190) with exposure to approximately 58,965 vehicles per day
    • Convenient access along Loop 363 for shoppers and tenants
    • Approximately 100,000 residents within a 5‑mile radius
    • Leans on nearby major highways, established businesses, national retailers, hotels, and regional attractions

    Overview

    Legends Plaza is a 44,068-square-foot retail strip center on 3.05 acres, offered for sale. The center’s configuration is designed to serve multiple retail needs within one cohesive property, supported by a location that emphasizes visibility and accessibility to passing traffic. This is a compelling option for investors or operators seeking a retail asset built for everyday consumer convenience.

    The property is situated along Loop 363 (Highway 190) with exposure to approximately 58,965 vehicles per day, helping drive showroom and storefront awareness. It is also positioned near major highways, established businesses, and a dense retail corridor. The surrounding area supports a strong trade area, with approximately 100,000 residents within a 5-mile radius, alongside a mix of national retailers, hotels, and regional attractions.

    With its highway-adjacent placement and established retail surroundings, Legends Plaza may be well-suited for retail tenants seeking consistent customer flow and an easily identifiable location. For buyers, the property offers an opportunity to acquire a strategically placed neighborhood retail center with long-term growth potential supported by the size of the local trade area and continued retail demand.
    Location Intelligence

    Current Use by Public Records

    Armstrong McCall Professional ... Big Box & Wholesale Store

    Suggested Use

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

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

    Similar Places Nearby

    • Bird Creek Crossing — 3550 S General Bruce Dr, Temple, TX 76504
    • Coin Cloud Bitcoin ATM — 3550 S General Bruce Dr, Temple, TX 76504

    Location Insight

    • Map
    • Local Demand
    City
    Temple
    County
    Bell
    State
    Texas
    Longitude
    -97.3808689
    Latitude
    31.0820922

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    FAQs

    What type of property is this?
    Shopping center - Well-positioned retail center on Loop 363 with strong daily visibility and convenient access for shoppers and tenants.
    Where is this shopping center located?
    The property is located at 2327 S 57th St Temple, TX.
    What is the asking price?
    The asking price for this property is $4,465,000.
    What are key features of this property?
    This property features: 44,068 SF retail center on 3.05 acres built in 1974; Located on Loop 363 (Highway 190) with exposure to approximately 58,965 vehicles per day; Convenient access along Loop 363 for shoppers and tenants
    (713) 452-4359
    We can help!
    Listing Contact
    Scott Jones
    Scott Jones
    Real Estate License ID: License(s): TX: 81153
    Learn More
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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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