Fenced Flex Property with
For Sale
$300,000
324 West La Fayette Street, La Grange, TX 78945
Commercial, La Grange, TX
Property Size1,200 SF
Lot Size0.46 Acres
Price / SF$250
Days on Market58
Property Features for 324 West La Fayette Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1
Exterior features
Metal
High school district
La Grange
Directions
On the corner of Water & W Lafayette Sts.
Standard status
Active
APN
38519
Size
1,200 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Annual Amount
2628
Utilities
Water source
Public
Building Details
Year built
2006
Floors in Building
2
Roof type
Metal
Listing Agency:
Diggs Real Estate, Inc.
Listed By:
Diggs Real Estate, Inc.
(979) 968-6143
Added: Jul 28
Changed: Sep 22
Last Checked: Sep 23 at 4:06PM
MLS# 153080
Copyright © 2026 South Central Texas 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 1,200-square-foot flex property combines a two-story shop with a second-level apartment and additional storage improvements. The one-bedroom, one-bath apartment measures 600 square feet and can support office or on-site accommodation use. The shop includes overhead doors, while a separate open storage building provides four bays.
The property occupies 0.46 acres at 324 West La Fayette Street in La Grange, Texas. A 6-foot fence encloses the construction yard, and public water serves the site. Built in 2006, the improvements feature metal exterior construction and a metal roof.
The property occupies 0.46 acres at 324 West La Fayette Street in La Grange, Texas. A 6-foot fence encloses the construction yard, and public water serves the site. Built in 2006, the improvements feature metal exterior construction and a metal roof.
Key Highlights
- 1,200‑square‑foot flex property on 0.46 acres
- Second‑level apartment with 1 bedroom, 1 bath, and 600 square feet
- 4‑bay shop with overhead doors
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
$15,840
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
5.28%
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%
$316,800
$316.8K
Cap Rate 7%
$226,286
$226.3K
Cap Rate 9%
$176,000
$176.0K
Market Conditions
NOI Build-Up for 1,200 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
$28.8K $24.00/SF
− Vacancy
−$3.5K −$2.88/SF
EGI
$25.3K $21.12/SF
− OpEx
−$9.5K −$7.92/SF
NOI
$15.8K $13.20/SF
Area
Fayette County, TX
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$316,800
Cap Rate 7%
$226,286
Cap Rate 9%
$176,000
Alternative Uses
Best Use
Mixed Use
$226.3K
$198.0K – $264.0K
NOI $15,840 @ 7.0% cap · market cap 5.28%
Second Best
Warehouse
$105.2K
$92.1K – $122.7K
NOI $7,364 @ 7.0% cap · market cap 2.45%
Theoretical Best
Multifamily LT 5
$13.45M
$11.77M – $15.70M
NOI $941,764 @ 7.0% cap · market cap 313.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78945, TX
10,483
Population
5,461
Households
1.9
Avg Household Size
46
Median Age
31%
College-Educated
91%
High-School Grad
248.2 sq mi
ZIP Area
42
Density / Sq Mi
$76,221
Median Household Income
$40,180
Median Earnings
$747
Median Rent
$299,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two-story commercial property with an overhead-door shop, second-level apartment, and open storage.
Where is this flex space located?
The property is located at 324 West La Fayette Street La Grange, TX.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,200‑square‑foot flex property on 0.46 acres; Second‑level apartment with 1 bedroom, 1 bath, and 600 square feet; 4‑bay shop with overhead doors
