15-Unit Apartment
For Sale
$2,699,000
307 N Henry Street, Lindale, TX 75771
COMMERCIAL - Lindale, TX
Property Size16,890 SF
Lot Size0.54 Acres
Price / SF$159.80
Days on Market105
Property Features for 307 N Henry Street
General Information
Property type
Commercial Sale
Property subtype
Other
Fencing
Fenced
Lot features
Inside City Limits
Directions
From Tyler, take Hwy N into Lindale. Turn left onto North St. Turn right onto Henry St. Property is on the corner. SIY.
Standard status
Active
Size
16,890 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CITY OF LINDALE BLOCK 14 LOT 8A
Legal Description
CITY OF LINDALE BLOCK 14 LOT 8A
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
private fenced backyard area
Building Details
Year built
2020
Number of units
15
Building materials
Metal Siding
Listing Agency:
Keller Williams Realty-Tyler
(903) 534-6600
Listed By:
Haden Riggs · License #0670076
(903) 473-8885
Added: Apr 30
Changed: Aug 12
Last Checked: Aug 12 at 9:06PM
MLS# 26006114
Copyright © 2026 Greater Tyler Association 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.
Built in 2020, this two-building apartment property contains 15 units totaling 16,890 square feet on 0.539 acres. The configuration includes eleven 2-bedroom, 2.5-bath residences measuring 1,160 square feet and four 1-bedroom, 1.5-bath residences measuring 900 square feet. Interiors feature contemporary finishes and open layouts, while each residence includes access to a private fenced backyard area.
The property is 100% occupied, with tenants responsible for all utilities. Central heating, electric cooling, public water, and public sewer serve the buildings. Located at 307 N Henry Street in Lindale, the property is within the Lindale school district and offers access to local shopping, dining, and amenities. Tyler and I-20 are also nearby for regional travel.
The property is 100% occupied, with tenants responsible for all utilities. Central heating, electric cooling, public water, and public sewer serve the buildings. Located at 307 N Henry Street in Lindale, the property is within the Lindale school district and offers access to local shopping, dining, and amenities. Tyler and I-20 are also nearby for regional travel.
Key Highlights
- 15 units across two buildings, totaling 16,890 square feet
- Unit mix includes eleven 2 bed, 2.5 bath units at 1,160 sq ft
- Four 1 bed, 1.5 bath units measure 900 sq ft
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
$126,802
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
4.70%
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%
$2,536,040
$2.5M
Cap Rate 7%
$1,811,457
$1.8M
Cap Rate 9%
$1,408,911
$1.4M
Market Conditions
NOI Build-Up for 16,890 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
$253.4K $15.00/SF
− Vacancy
−$22.8K −$1.35/SF
EGI
$230.5K $13.65/SF
− OpEx
−$103.7K −$6.14/SF
NOI
$126.8K $7.51/SF
Area
Smith County, TX
Vacancy
9.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
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%
$2,536,040
Cap Rate 7%
$1,811,457
Cap Rate 9%
$1,408,911
Alternative Uses
Best Use
Apartment 5plus
$1.81M
$1.59M – $2.11M
NOI $126,802 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$12.72M
$11.13M – $14.84M
NOI $890,525 @ 7.0% cap · market cap 32.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
Explore this area
Business Placement
Demographics for 75771, TX
21,870
Population
9,241
Households
2.4
Avg Household Size
41
Median Age
29%
College-Educated
91%
High-School Grad
146.1 sq mi
ZIP Area
150
Density / Sq Mi
$90,112
Median Household Income
$48,088
Median Earnings
$1,318
Median Rent
$266,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied residential community with private fenced backyard areas and tenant-paid utilities.
Where is this apartment building located?
The property is located at 307 N Henry Street Lindale, TX.
What is the asking price?
The asking price for this property is $2,699,000.
What are key features of this property?
This property features: 15 units across two buildings, totaling 16,890 square feet; Unit mix includes eleven 2 bed, 2.5 bath units at 1,160 sq ft; Four 1 bed, 1.5 bath units measure 900 sq ft
