Mixed-Use Property with Private
251 S Mill Street, Lewisville, TX 75057
For Sale
New
$745,000
CommercialSale, Lewisville, TX
Property Size2,071 SF
Lot Size0.64 Acres
Price / SF$359.73
Days on Market4
Property Features for 251 S Mill Street
General Information
Property type
Property subtype
Zoning description
Parking features
Subdivision
Directions
Standard status
APN
Lot size
Additional Details
Mixed-Use Components
Property Use
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
shared fenced patio courtyard
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Jeanie Cline · License #0670223
(214) 202-7615
Added: Nov 4
Last Checked: Nov 7 at 3:06AM
MLS# 21428233
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 251 S. Mill Street, the offering pairs two condominium units totaling 4,963 square feet in a development completed in 2018. The 2,071-square-foot ground-floor unit has a flexible layout with three to four private offices, reception or collaborative space, a kitchen, two ADA-compliant restrooms, laundry and storage. A shared fenced courtyard serves the commercial unit. The 2,892-square-foot second-floor residence includes an open living area, kitchen with island seating, dining area, covered balcony, three bedrooms with ensuite baths, a guest half bath and a private two-car garage.
The property is in Old Town Lewisville, near restaurants, coffee shops, boutiques, galleries, live music and seasonal festivals. Its approximate Walk Score is 72. The commercial condo and residence may be acquired together or separately; a third-floor penthouse is separately available. Elevator access arrangements depend on whether that penthouse is sold separately.
The property is in Old Town Lewisville, near restaurants, coffee shops, boutiques, galleries, live music and seasonal festivals. Its approximate Walk Score is 72. The commercial condo and residence may be acquired together or separately; a third-floor penthouse is separately available. Elevator access arrangements depend on whether that penthouse is sold separately.
Key Highlights
- Two condominium units offer 4,963 SF combined
- Ground‑floor commercial unit measures 2,071 SF and has 3‑4 private offices
- Second‑floor residence spans 2,892 SF and includes 3 bedrooms, each with an ensuite bath
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
Mixed Use
$488.2K
$427.2K – $569.5K
NOI $34,172 @ 7.0% cap · market cap 4.59%
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,289
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The offering combines a street-level commercial condo with a custom second-floor home in a mixed-use development.
Where is this mixed-use property 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: Two condominium units offer 4,963 SF combined; Ground‑floor commercial unit measures 2,071 SF and has 3‑4 private offices; Second‑floor residence spans 2,892 SF and includes 3 bedrooms, each with an ensuite bath
