Office/Retail Condo with Fenced
For Sale
$745,000
251 S Mill Street #180, Lewisville, TX 75057
2,071 SF condo includes private offices, reception space, a kitchen, two ADA-compliant restrooms, and a fenced patio.
Property Size2,071 SF
Price / SF$359.73
Days on Market95
Property Features for 251 S Mill Street #180
General Information
Standard status
Active
Size
2,071 SF
Property subtype
Office
Building Details
Year Built
2018
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Jeanie Cline · License #0670223
(817) 354-4836
Source:
Lonestarluxuryrealty
Added: Jul 19
Changed: Oct 5
Last Checked: Oct 20 at 11:16PM
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
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Investment Insights
Based on property information with market context.
A 2,071 SF office/retail condo within a premier mixed-use development, completed in 2017. The space features 3–4 private offices, an expansive reception and/or collaborative area, a large kitchen, two ADA-compliant restrooms, a laundry room, and multiple storage areas. A spacious fenced patio is included, with modern finishes and quality construction throughout.
Located in Lewisville’s Old Town District, the property is positioned for visibility and pedestrian activity associated with year-round festivals and weekly events. Open parking and a walkable location support convenient access for employees and visitors. The listing also notes a Walk Score of approximately 72, with dining, shopping, and entertainment within steps.
The condo is within the Old Town TRIZ (Tax Increment Reinvestment Zone), with potential property tax incentives tied to the City’s active Economic Development Corporation and ongoing district investment. Two luxury residential condo flats are available for purchase directly above the commercial space; garages and an elevator shown for the private residential units are intended to be separated from the commercial space unless purchased together.
Located in Lewisville’s Old Town District, the property is positioned for visibility and pedestrian activity associated with year-round festivals and weekly events. Open parking and a walkable location support convenient access for employees and visitors. The listing also notes a Walk Score of approximately 72, with dining, shopping, and entertainment within steps.
The condo is within the Old Town TRIZ (Tax Increment Reinvestment Zone), with potential property tax incentives tied to the City’s active Economic Development Corporation and ongoing district investment. Two luxury residential condo flats are available for purchase directly above the commercial space; garages and an elevator shown for the private residential units are intended to be separated from the commercial space unless purchased together.
Key Highlights
- 2,071 SF commercial condo built in 2018 in Lewisville’s Old Town District
- Floorplan includes 3–4 private offices, expansive reception/collaborative workspace, and a large kitchen
- Two ADA‑compliant restrooms plus a laundry room and multiple storage areas
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
1,300
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - 2,071 SF condo includes private offices, reception space, a kitchen, two ADA-compliant restrooms, and a fenced patio.
Where is this office unit 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 commercial condo built in 2018 in Lewisville’s Old Town District; Floorplan includes 3–4 private offices, expansive reception/collaborative workspace, and a large kitchen; Two ADA‑compliant restrooms plus a laundry room and multiple storage areas
