Office Condo with Fenced
New
For Sale
$745,000
251 S Mill Street 180, Lewisville, TX 75057
Office condo with multiple private offices, ADA restrooms, kitchen, laundry, and a spacious fenced patio.
Property Size2,071 SF
Price / SF$359.73
Days on Market3
Property Features for 251 S Mill Street 180
General Information
Standard status
Active
Size
2,071 SF
Property subtype
Office
Additional Details
Office Units
1
Amenities
fenced patio
Building Details
Building Size
2,071 SF
Year Built
2018
Listing Agency:
Real Broker, LLC
(682) 225-3262
Listed By:
Jeanie Cline · License #0670223
Source:
Soldbywes
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 30 at 12:59PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This office condo offers a flexible layout designed for client-facing work and everyday operations. The floorplan includes 3–4 private offices, an expansive reception or collaborative workspace, a large kitchen, a laundry room, and multiple storage areas. There are 2 ADA-compliant restrooms and a spacious fenced patio that extends usable space beyond the interior. Modern finishes and quality construction are also noted for the space.
The property is located in Lewisville’s Old Town District within a premier mixed-use development, with walkable access and an active mix of nearby businesses, restaurants, entertainment, and residential development. The listing also notes that the location experiences year-round festivals and weekly events, supporting strong visibility and pedestrian activity.
The condo is within the Old Town TRIZ (Tax Increment Reinvestment Zone). The seller is the original developer and builder of the mixed-use project and surrounding residential communities. Two luxury residential condo flats above the commercial space are also available for purchase, with garages and an elevator shown on the floor plan intended to serve the residential units above.
The property is located in Lewisville’s Old Town District within a premier mixed-use development, with walkable access and an active mix of nearby businesses, restaurants, entertainment, and residential development. The listing also notes that the location experiences year-round festivals and weekly events, supporting strong visibility and pedestrian activity.
The condo is within the Old Town TRIZ (Tax Increment Reinvestment Zone). The seller is the original developer and builder of the mixed-use project and surrounding residential communities. Two luxury residential condo flats above the commercial space are also available for purchase, with garages and an elevator shown on the floor plan intended to serve the residential units above.
Key Highlights
- 2,071 SF office condo within a mixed‑use development
- Layout includes 3–4 private offices plus reception or collaborative workspace
- Large kitchen, laundry room, and multiple storage areas
Financial Insights For Office B
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 | $68.3k | $33.00 |
| − Vacancy | −$17.2k | −$8.32 |
| EGI | $51.1k | $24.68 |
| − OpEx | −$12.8k | −$6.17 |
| NOI | $38.3k | $18.51 |
2,071 SF · lease $33.00/SF/yr · vacancy 25.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$547.7K
$479.3K – $639.0K
NOI $38,340 @ 7.0% cap · market cap 5.15%
Second Best
Retail
$475.5K
$416.1K – $554.8K
NOI $33,288 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$690.5K
$604.2K – $805.5K
NOI $48,332 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,300
Businesses Nearby
Explore this area
Business Placement
Demographics for 75057, TX
16,001
Population
7,171
Households
2.2
Avg Household Size
31
Median Age
29%
College-Educated
83%
High-School Grad
13.3 sq mi
ZIP Area
1,203
Density / Sq Mi
$76,128
Median Household Income
$43,253
Median Earnings
$1,589
Median Rent
$208,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office condo with multiple private offices, ADA restrooms, kitchen, laundry, and a spacious fenced patio.
Where is this office units located?
The property is located at 251 S Mill Street 180 Lewisville, TX.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: 2,071 SF office condo within a mixed‑use development; Layout includes 3–4 private offices plus reception or collaborative workspace; Large kitchen, laundry room, and multiple storage areas
