Historic Flex Space with Truck
For Sale
$525,000
307 E Larkin St, Athens, TX 75751
Commercial Sale, Athens, TX
Property Size3,300 SF
Lot Size1.77 Acres
Price / SF$159.09
Days on Market1826
Property Features for 307 E Larkin St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm
Subdivision
Henderson
Standard status
Active
APN
2050.0025.0080.01
Size
3,300 SF
Lot size
1.77 Acres
Taxes and HOA fees
Tax Description
Athens Old Town, Blk 25, LTS 1,2,3A,6B,7,8,8R&3340
Legal Description
Athens Old Town, Blk 25, LTS 1,2,3A,6B,7,8,8R&3340
Amenities
shaded front porch area
large bay door
restored backyard greenspace
newly fenced in backyard
large shade trees
separate garden tunnel entrance
vendor gates
performance stage
original full size truck scale with 5ft scale dial
Building Details
Year built
1939
Listing Agency:
Echols Real Estate Associates
(903) 675-7575
Listed By:
Russell Richardson · License #0617556
(903) 681-7017
Added: Sep 1, 2021
Changed: Aug 19
Last Checked: Aug 31 at 9:06PM
MLS# 96000
Copyright © 2026 Henderson County Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,300-square-foot flex property occupies 1.774 acres and includes a historic 1939 building with a vaulted ceiling, exposed steel beam construction, restored concrete flooring, and large sliding doors. A wide bay door opens to the rear grounds, while the original full-size truck scale remains in place with its 5ft scale dial. The property is zoned Comm.
Access extends from three city streets through multiple entrances. Outdoor improvements include a fenced acre of restored greenspace, mature shade trees, a covered front porch, a separate garden-tunnel entry, vendor gates, and a performance stage. The combination of industrial-style building features, open yard area, and established site improvements creates a distinctive flex-space configuration near downtown Athens.
Access extends from three city streets through multiple entrances. Outdoor improvements include a fenced acre of restored greenspace, mature shade trees, a covered front porch, a separate garden-tunnel entry, vendor gates, and a performance stage. The combination of industrial-style building features, open yard area, and established site improvements creates a distinctive flex-space configuration near downtown Athens.
Key Highlights
- 3,300 SF flex property on 1.774 acres
- Historic 1939 building with vaulted ceiling and steel beam structure
- Original full‑size truck scale with 5ft scale dial
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,749
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$694,980
$695.0K
Cap Rate 7%
$496,414
$496.4K
Cap Rate 9%
$386,100
$386.1K
Market Conditions
NOI Build-Up for 3,300 SF
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.
Gross rent
$59.4K $18.00/SF
− Vacancy
−$5.9K −$1.80/SF
EGI
$53.5K $16.20/SF
− OpEx
−$18.7K −$5.67/SF
NOI
$34.7K $10.53/SF
Area
Henderson County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$694,980
Cap Rate 7%
$496,414
Cap Rate 9%
$386,100
Alternative Uses
Best Use
Flex RnD
$496.4K
$434.4K – $579.2K
NOI $34,749 @ 7.0% cap · market cap 6.62%
Second Best
Industrial
$244.8K
$214.2K – $285.6K
NOI $17,134 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,259 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75751, TX
17,100
Population
7,432
Households
2.3
Avg Household Size
39
Median Age
20%
College-Educated
85%
High-School Grad
180.4 sq mi
ZIP Area
95
Density / Sq Mi
$71,524
Median Household Income
$31,897
Median Earnings
$1,063
Median Rent
$205,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Three-street access and multiple entrances support flexible commercial use near downtown Athens.
Where is this flex space located?
The property is located at 307 E Larkin St Athens, TX.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 3,300 SF flex property on 1.774 acres; Historic 1939 building with vaulted ceiling and steel beam structure; Original full‑size truck scale with 5ft scale dial
