Flexible Commercial
For Sale
$259,000
406 Lindsey Lane, Athens, TX 75751
Retail zoning supports office, salon, storefront, and warehouse configurations.
Property Size2,710 SF
Price / SF$95.57
Days on Market28
Property Features for 406 Lindsey Lane
General Information
Standard status
Active
Size
2,710 SF
Property subtype
Commercial
Zoning
RETAIL
Building Details
Building Size
2,710 SF
Year Built
9999
Buildings
1
Units
1
Listing Agency:
Steve Grant Realty LLC
(903) 675-3503
Listed By:
Trish Mcguffey · License #0472383
(903) 675-3503
Source:
Vickiesteam
Added: Aug 3
Changed: Aug 28
Last Checked: Aug 28 at 11:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Steve Grant Realty LLC
Investment Insights
Based on property information with market context.
This 2,710-square-foot commercial building at 406 Lindsey Ln in Athens is currently zoned for retail use. The space is identified for potential adaptation to several business formats, including a beauty salon, office building, retail store, or warehouse.
The property provides a flexible commercial footprint for an owner evaluating different operating concepts within the existing building. Its present retail zoning establishes the current land-use designation, while the range of described configurations offers multiple directions for future occupancy or buildout.
The property provides a flexible commercial footprint for an owner evaluating different operating concepts within the existing building. Its present retail zoning establishes the current land-use designation, while the range of described configurations offers multiple directions for future occupancy or buildout.
Key Highlights
- 2,710 SF commercial building
- Currently zoned retail
- Located at 406 Lindsey Ln, Athens, TX 75751
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
$16,879
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
6.52%
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%
$337,580
$337.6K
Cap Rate 7%
$241,129
$241.1K
Cap Rate 9%
$187,544
$187.5K
Market Conditions
NOI Build-Up for 2,710 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
$22.1K $8.16/SF
− Vacancy
−$2.3K −$0.83/SF
EGI
$19.9K $7.33/SF
− OpEx
−$3.0K −$1.10/SF
NOI
$16.9K $6.23/SF
Area
Henderson County, TX
Vacancy
10.20%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
15.00%
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%
$337,580
Cap Rate 7%
$241,129
Cap Rate 9%
$187,544
Alternative Uses
Best Use
Office B
$647.6K
$566.6K – $755.5K
NOI $45,330 @ 7.0% cap · market cap 17.50%
Second Best
Retail
$531.1K
$464.8K – $619.7K
NOI $37,180 @ 7.0% cap · market cap 14.36%
Theoretical Best
Office A
$953.3K
$834.1K – $1.11M
NOI $66,731 @ 7.0% cap · market cap 25.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75751, TX
17,100
Population
7,432
Households
2.3
Avg Household Size
39
Median Age
20%
College-Educated
85%
High-School Grad
180.4 sq mi
ZIP Area
95
Density / Sq Mi
$71,524
Median Household Income
$31,897
Median Earnings
$1,063
Median Rent
$205,200
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.
Frequently Asked Questions
What type of property is this?
Flex space - Retail zoning supports office, salon, storefront, and warehouse configurations.
Where is this flex space located?
The property is located at 406 Lindsey Lane Athens, TX.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 2,710 SF commercial building; Currently zoned retail; Located at 406 Lindsey Ln, Athens, TX 75751
