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    Two-Story Downtown Retail Building Title is generated by Realmo AI

    3907 Lee Street, Greenville, TX 75401

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    For Sale
    $499,000

    SINGLE_FAMILY - Greenville, TX

    Type:Retail
    Property size:
    7,410 SF
    Lot size:
    0.40 Acres
    Price / SF:
    $67/SF
    Added:
    Jan 2, 2026
    Days on Market:
    152
    Last Refresh:
    Jun 3 at 8:06 am

    Property Features for 3907 Lee Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Standard status
    Active
    APN
    72316
    Lot size
    0.40 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1965
    Floors in Building
    2
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    Brick
    Roof type
    Flat, Built-Up

    We can help!

    Listing Contact
    Karan Aulakh

    Listing agent Karan Aulakh

    Listing office KARE Investment Sales & Leasing TX

    Listing date Jan 2, 2026

    MLS# 21141036

    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.

    HighLights

    • Approximately 7,410 SF two‑story commercial building on +/-0.396 acres in downtown Greenville, TX
    • Brick construction with central heating and central air; flat built‑up roof
    • Public sewer and built‑up systems servicing the property; flooring includes concrete
    • 17,250 SF lot with city street frontage and surface parking
    • Constructed in 1965

    Overview

    Exceptional two-story brick commercial building totaling approximately 7,410 SF, constructed in 1965. The property offers central heating and cooling throughout and features a flat built-up roof. With surface parking and a layout suited to flexible commercial use, it presents an appealing option for owner-users or investors looking for a centrally located downtown asset.

    Located in the heart of the downtown district of Greenville, Texas, the building is prominently positioned across from Family Dollar. It is surrounded by established retail stores, along with a nearby gas station and convenience services, supporting visibility and accessible everyday commerce. The property sits on approximately 0.396 acres with city street frontage.

    This configuration can fit a range of retail and commercial concepts where downtown presence matters. The combination of dependable building systems, straightforward access via street frontage, and practical on-site parking provides a solid platform for an owner-operator or an investor pursuing a downtown-oriented retail investment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Friendship Baptist Church Church

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Hunt
    State
    Texas
    Longitude
    -96.120675
    Latitude
    33.139722

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    FAQs

    What type of property is this?
    Retail space - Brick, two-story downtown building with central HVAC, surface parking, and strong visibility near major retail.
    Where is this retail space located?
    The property is located at 3907 Lee Street Greenville, TX.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Approximately 7,410 SF two‑story commercial building on +/-0.396 acres in downtown Greenville, TX; Brick construction with central heating and central air; flat built‑up roof; Public sewer and built‑up systems servicing the property; flooring includes concrete
    (469) 471-6413
    We can help!
    Listing Contact
    Karan Aulakh
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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