Updated Office Suite with
For Sale
Contact for pricing
303 S State Street, Decatur, TX 76234
Updated office suite with a central reception area, breakroom, and an in-suite bathroom with shower.
Property Size784 SF
Price / SF$2.30
Days on Market96
Property Features for 303 S State Street
General Information
Standard status
Active
Size
784 SF
Property subtype
Office
Building Details
Year Built
1985
Listing Agency:
Parker Properties Real Estate
(940) 627-9040
Listed By:
John Lanier · License #0453020
(940) 627-9714
Source:
Lonestarluxuryrealty
Added: Jul 19
Changed: Oct 15
Last Checked: Oct 20 at 10:57PM
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 Parker Properties Real Estate
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Investment Insights
Based on property information with market context.
Updated office suite offering multiple private offices, a central reception area, and supporting amenities. The primary office measures 13 by 13, with a secondary office at 11 by 13. The oversized reception area measures 13 by 20 and provides room for a desk and conference table. Additional features include a breakroom and a bathroom with shower. Furniture may be included, and the suite totals 784 square feet.
The property is located just down the street from the Historic Wise County Courthouse at 303 S State Street in Decatur, Texas.
There is also a sitting area out back for fresh air. The seller indicates a 3-year lease is preferred, though other terms may be negotiated.
The property is located just down the street from the Historic Wise County Courthouse at 303 S State Street in Decatur, Texas.
There is also a sitting area out back for fresh air. The seller indicates a 3-year lease is preferred, though other terms may be negotiated.
Key Highlights
- Updated office space in a building built in 1985
- Central oversized reception area measuring 13' x 20' with space for a desk and conference table
- Primary office measures 13' x 13' and secondary office measures 11' x 13'
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,114
Suggested Prices Based on Cap Rates
Cap Rate 5%
$262,280
$262.3K
Cap Rate 7%
$187,343
$187.3K
Cap Rate 9%
$145,711
$145.7K
Market Conditions
NOI Build-Up for 784 SF
Gross rent
$24.1K $30.72/SF
− Vacancy
−$6.6K −$8.42/SF
EGI
$17.5K $22.30/SF
− OpEx
−$4.4K −$5.58/SF
NOI
$13.1K $16.73/SF
Area
Wise County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$262,280
Cap Rate 7%
$187,343
Cap Rate 9%
$145,711
Alternative Uses
Best Use
Office B
$187.3K
$163.9K – $218.6K
NOI $13,114 @ 7.0% cap · market cap 728.56%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$590.5K
$516.7K – $688.9K
NOI $41,336 @ 7.0% cap · market cap 2,296.44%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
Explore this area
Business Placement
Demographics for 76234, TX
18,755
Population
8,047
Households
2.3
Avg Household Size
40
Median Age
22%
College-Educated
89%
High-School Grad
314.0 sq mi
ZIP Area
60
Density / Sq Mi
$88,083
Median Household Income
$45,137
Median Earnings
$1,358
Median Rent
$304,300
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 - Updated office suite with a central reception area, breakroom, and an in-suite bathroom with shower.
Where is this office unit located?
The property is located at 303 S State Street Decatur, TX.
What are key features of this property?
This property features: Updated office space in a building built in 1985; Central oversized reception area measuring 13' x 20' with space for a desk and conference table; Primary office measures 13' x 13' and secondary office measures 11' x 13'
