Flex Space with Warehouse
For Sale
$3,650,000
3790 Lamar Avenue, Paris, TX 75462
COMMERCIAL - Paris, TX
Property Size69,000 SF
Lot Size8.19 Acres
Price / SF$52.90
Days on Market94
Property Features for 3790 Lamar Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Subdivision
City Of Paris
Lot features
Acreage
Directions
Lamar Ave E through overpass, R on Private Dr.
Standard status
Active
APN
21145
Lot size
8.19 Acres
Taxes and HOA fees
Tax Description
CITY OF PARIS, BLOCK 313, LOT PT 3 & PT 4, 37
Tax Annual Amount
20728
Legal Description
CITY OF PARIS, BLOCK 313, LOT PT 3 & PT 4, 37
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Floors in Building
1
Number of units
1
Flooring type
Vinyl, Concrete
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Glass Land and Home LLC
(903) 785-8457
Listed By:
Bryan Glass · License #0614699
(903) 785-8457
Added: May 28
Changed: Aug 4
Last Checked: Aug 29 at 3:06AM
MLS# 21198211
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.
This flex space offers a blend of warehouse and office use, with 2 updated office suites that include multiple offices, a conference room, reception area, kitchen and break room, and multiple bathrooms. The warehouse area is configured for multi-tenant occupants or principal warehouse use, with both doc height and ground loading available, plus an additional ramp entrance.
The building includes recent improvements such as re-skinning of metal siding, interior/exterior paint, installation of a fire compression system and sprinklers, and a new concrete driveway and approach. The property is served by public water and public sewer and features a metal roof, vinyl and concrete flooring, electric heating, and central air conditioning.
An 8.188-acre site is available for additional yard space, add-ons, or other development. The location is just off Loop 286 and the Highway 82 East travel corridor in Paris, TX, near retailers and destinations including Wal Greens, CVS, Wal Mart, Paris Town Center, Shops of Paris, and a new hotel planned for 2027.
The building includes recent improvements such as re-skinning of metal siding, interior/exterior paint, installation of a fire compression system and sprinklers, and a new concrete driveway and approach. The property is served by public water and public sewer and features a metal roof, vinyl and concrete flooring, electric heating, and central air conditioning.
An 8.188-acre site is available for additional yard space, add-ons, or other development. The location is just off Loop 286 and the Highway 82 East travel corridor in Paris, TX, near retailers and destinations including Wal Greens, CVS, Wal Mart, Paris Town Center, Shops of Paris, and a new hotel planned for 2027.
Key Highlights
- 2 updated office suites with multiple offices, conference room, reception, kitchen/break room, and multiple bathrooms
- Warehouse space configured for multi‑tenant occupants or principal use
- Doc height and ground loading available, plus an additional ramp entrance
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
$327,059
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
8.96%
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%
$6,541,180
$6.5M
Cap Rate 7%
$4,672,271
$4.7M
Cap Rate 9%
$3,633,989
$3.6M
Market Conditions
NOI Build-Up for 69,000 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
$554.8K $8.04/SF
− Vacancy
−$51.6K −$0.75/SF
EGI
$503.2K $7.29/SF
− OpEx
−$176.1K −$2.55/SF
NOI
$327.1K $4.74/SF
Area
Lamar County, TX
Vacancy
9.30%
Lease Rate
$8.04 /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%
$6,541,180
Cap Rate 7%
$4,672,271
Cap Rate 9%
$3,633,989
Alternative Uses
Best Use
Office B
$17.03M
$14.90M – $19.87M
NOI $1,192,320 @ 7.0% cap · market cap 32.67%
Second Best
Warehouse
$6.11M
$5.35M – $7.13M
NOI $427,692 @ 7.0% cap · market cap 11.72%
Theoretical Best
Hotel Hospitality
$51.97M
$45.48M – $60.63M
NOI $3,638,025 @ 7.0% cap · market cap 99.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
561
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75462, TX
12,016
Population
4,717
Households
2.5
Avg Household Size
43
Median Age
29%
College-Educated
90%
High-School Grad
192.7 sq mi
ZIP Area
62
Density / Sq Mi
$72,576
Median Household Income
$41,284
Median Earnings
$961
Median Rent
$226,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- All Smoke, No Mirrors Barbecue — 4750 Pine Mill Rd, Paris, TX 75462
Frequently Asked Questions
What type of property is this?
Flex space - Flex space with updated office suites and warehouse configuration for multi-tenant occupancy with available loading access.
Where is this flex space located?
The property is located at 3790 Lamar Avenue Paris, TX.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: 2 updated office suites with multiple offices, conference room, reception, kitchen/break room, and multiple bathrooms; Warehouse space configured for multi‑tenant occupants or principal use; Doc height and ground loading available, plus an additional ramp entrance
