Office/Retail Condo with Fenced
251 S Mill Street Unit 180 Lewisville, TX 75057
New
251 S Mill Street Unit 180, Lewisville, TX, 75057
$745,000
For Sale
$745,000
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 Market3
Property Features for 251 S Mill Street Unit 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
Rene Jensen · License #0670223
(214) 532-6823
Source
Lonestarluxuryrealty
Added: Jul 19 Updated: Jul 20 at 2:09 am Checked: Jul 20 at 2:09 am
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.
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
Local 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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Awesome Financial Group
Loan Service
1 Stop Barber ...
Barber Shop
Luxe Lounge DFW
Hair Salon
Old Town Dog ...
Pet Grooming Service
Tailored Education
Tutoring Service
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - 2,071 SF condo includes private offices, reception space, a kitchen, two ADA-compliant restrooms, and a fenced patio.
Where is this office units located?
The property is located at 251 S Mill Street Unit 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
