Commercial Land on Signalized
For Sale
$495,000
350 NW 1st, Paris, TX 75460
COMMERCIAL - Paris, TX
Property Size2,479 SF
Lot Size0.92 Acres
Price / SF$199.68
Days on Market69
Property Features for 350 NW 1st
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Parking Lot
Subdivision
City of Paris
Directions
NW intersection of North Main, 1st NW, and Graham. Hard Corner
Standard status
Active
APN
14021
Lot size
0.92 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1979
Floors in Building
1
Number of units
1
Flooring type
Tile
Building materials
Brick, MetalSiding
Roof type
Metal, Flat
Listing Agency:
Nathan Bell Property Management and Rentals, LLC
(903) 785-5578
Listed By:
Nathan Bell IV · License #0155615
(903) 517-2026
Added: Jul 1
Changed: Aug 5
Last Checked: Sep 7 at 10:06AM
MLS# 20804519
Copyright © 2026 North Texas Real Estate Information Systems, Inc. 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.
Commercial land opportunity at a signalized hard corner in Downtown Paris, Texas, featuring nearly 1 acre of open, ready-to-build space. The site also includes a +/- 2,479 SF former restaurant structure, providing flexibility for an owner-operator, redevelopment, or new construction alongside an outdoor seating concept.
Frontage and access are available on three streets: N Main (Hwy 217 N Business), Graham Street, and 1st Street NW. Parking is described as accommodated by a parking lot on-site. Construction materials include brick and metal siding, with tile flooring, central heating using natural gas, and electric central air conditioning. The roof is flat and metal, and the building was constructed in 1979.
The property includes public water and public sewer services, and subdivision is available with a survey on file. TxDOT counts are cited for traffic flow near the area, including roughly 10,300 vehicles per day on N Main Street a half-mile north and about 3,400 a tenth-mile south, with approximately 7,700 on Graham Street just east (AADT, 2023-2025).
Frontage and access are available on three streets: N Main (Hwy 217 N Business), Graham Street, and 1st Street NW. Parking is described as accommodated by a parking lot on-site. Construction materials include brick and metal siding, with tile flooring, central heating using natural gas, and electric central air conditioning. The roof is flat and metal, and the building was constructed in 1979.
The property includes public water and public sewer services, and subdivision is available with a survey on file. TxDOT counts are cited for traffic flow near the area, including roughly 10,300 vehicles per day on N Main Street a half-mile north and about 3,400 a tenth-mile south, with approximately 7,700 on Graham Street just east (AADT, 2023-2025).
Key Highlights
- 0.9205‑acre commercial land parcel with open, ready‑to‑build space
- +/- 2,479 SF former restaurant on‑site for adaptive reuse or redevelopment
- Frontage and access on three streets: N Main (Hwy 217 N Business), Graham St, and 1st St NW
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
$44,087
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
8.91%
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%
$881,740
$881.7K
Cap Rate 7%
$629,814
$629.8K
Cap Rate 9%
$489,856
$489.9K
Market Conditions
NOI Build-Up for 2,479 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
$61.9K $24.96/SF
− Vacancy
−$3.1K −$1.25/SF
EGI
$58.8K $23.71/SF
− OpEx
−$14.7K −$5.93/SF
NOI
$44.1K $17.78/SF
Area
Lamar County, TX
Vacancy
5.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$881,740
Cap Rate 7%
$629,814
Cap Rate 9%
$489,856
Alternative Uses
Best Use
Specialty Retail
$629.8K
$551.1K – $734.8K
NOI $44,087 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$1.87M
$1.63M – $2.18M
NOI $130,705 @ 7.0% cap · market cap 26.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10,300 VPD
Traffic count
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
839
Businesses Nearby
Explore this area
Business Placement
Demographics for 75460, TX
22,925
Population
11,210
Households
2
Avg Household Size
38
Median Age
17%
College-Educated
88%
High-School Grad
101.9 sq mi
ZIP Area
225
Density / Sq Mi
$44,241
Median Household Income
$30,546
Median Earnings
$895
Median Rent
$123,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial land on a signalized corner with frontage on three streets and public water and sewer service.
Where is this commercial land located?
The property is located at 350 NW 1st Paris, TX.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 0.9205‑acre commercial land parcel with open, ready‑to‑build space; +/- 2,479 SF former restaurant on‑site for adaptive reuse or redevelopment; Frontage and access on three streets: N Main (Hwy 217 N Business), Graham St, and 1st St NW
