Office Condo with Fenced
251 S Mill Street, Lewisville, TX 75057
For Sale
$745,000
CommercialSale, Lewisville, TX
Property Size2,071 SF
Lot Size0.64 Acres
Price / SF$359.73
Days on Market124
Property Features for 251 S Mill Street
General Information
Property type
Property subtype
Zoning description
Parking features
Subdivision
Directions
Standard status
APN
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
large kitchen
2 ADA-compliant restrooms
laundry room
multiple storage areas
spacious fenced patio
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Jeanie Cline · License TX #0670223
(214) 202-7615
Added: Jul 13
Changed: Sep 30
Last Checked: Nov 13 at 10:06PM
MLS# 21318569
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.
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Investment Insights
Based on property information with market context.
This 2,071-square-foot commercial condo is configured for office or retail occupancy. The layout includes three to four private offices, a reception or collaborative area, a large kitchen, two ADA-compliant restrooms, a laundry room, storage areas, and a fenced patio. Tile flooring, central heating and central air are in place, with brick construction and a composition roof.
The property is located at 251 S Mill Street in Lewisville’s Old Town District, within a mixed-use development near restaurants, entertainment, businesses, and residential projects. The site provides parking-lot access, public water, and public sewer. A Walk Score of approximately 72 reflects nearby dining, shopping, and entertainment within walking distance.
The property is located at 251 S Mill Street in Lewisville’s Old Town District, within a mixed-use development near restaurants, entertainment, businesses, and residential projects. The site provides parking-lot access, public water, and public sewer. A Walk Score of approximately 72 reflects nearby dining, shopping, and entertainment within walking distance.
Key Highlights
- 2,071 SF commercial condo at 251 S Mill Street
- Office or retail configuration with 3‑4 private offices
- Reception or collaborative workspace plus large kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,340
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$766,800
$766.8K
Cap Rate 7%
$547,714
$547.7K
Cap Rate 9%
$426,000
$426.0K
Market Conditions
NOI Build-Up for 2,071 SF
Gross rent
$68.3K $33.00/SF
− Vacancy
−$17.2K −$8.32/SF
EGI
$51.1K $24.68/SF
− OpEx
−$12.8K −$6.17/SF
NOI
$38.3K $18.51/SF
Area
Lewisville, TX
Vacancy
25.20%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$766,800
Cap Rate 7%
$547,714
Cap Rate 9%
$426,000
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,289
Businesses Nearby
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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
$208,500
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Lewisville, TX
Properties on Market for Office Units in Lewisville
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Commercial condo configured for office or retail use, with private rooms, shared workspace, and customer-facing amenities.
Where is this office unit located?
The property is located at 251 S Mill Street 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 commercial condo at 251 S Mill Street; Office or retail configuration with 3‑4 private offices; Reception or collaborative workspace plus large kitchen
