Brick Flex
For Sale
$259,000
406 Lindsey Lane, Athens, TX 75751
CommercialSale, Athens, TX
Property Size2,710 SF
Lot Size0.51 Acres
Price / SF$95.57
Days on Market116
Property Features for 406 Lindsey Lane
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
RETAIL
Subdivision
Park Hlnds Sub
Directions
FROM DOWNTOWN ATHENS: GO SOUTH ON HWY 19 (S. PALESTINE ST), TURN LEFT ONTO E. BRYSON AVE, RIGHT ONTO LINDSEY LANE. PROPERTY WILL BE ON YOUR RIGHT.
Standard status
Active
APN
37600010015001
Lot size
0.51 Acres
Taxes and HOA fees
Tax Description
AB 782 T PARMER SUR, PARK HIGHLANDS, BLK 10 L
Tax Annual Amount
2830
Legal Description
AB 782 T PARMER SUR, PARK HIGHLANDS, BLK 10 L
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Floors in Building
1
Number of units
1
Flooring type
Concrete, Combination
Building materials
Brick
Roof type
Composition
Listing Agency:
Steve Grant Realty LLC
(903) 675-3503
Listed By:
Trish Mcguffey · License #0472383
(903) 681-3530
Added: May 15
Changed: Sep 4
Last Checked: Sep 7 at 10:06PM
MLS# 21271685
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 brick flex-space building contains 2,710 square feet on a 0.505-acre parcel. Interior finishes include a combination of flooring types, including concrete, providing a straightforward base for reconfiguration. The property is currently zoned for retail use, with potential layouts described for salon, office, retail, or warehouse applications.
Central electric heating and cooling serve the building, supplemented by ceiling fans. Public water and public sewer are available, and the roof is constructed with composition materials. The property is located in Athens, Texas, at 406 Lindsey Lane.
Central electric heating and cooling serve the building, supplemented by ceiling fans. Public water and public sewer are available, and the roof is constructed with composition materials. The property is located in Athens, Texas, at 406 Lindsey Lane.
Key Highlights
- 2,710‑square‑foot brick building
- 0.505‑acre parcel
- Currently zoned for retail use
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
$14,071
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
5.43%
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%
$281,420
$281.4K
Cap Rate 7%
$201,014
$201.0K
Cap Rate 9%
$156,344
$156.3K
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
−$2.0K −$0.74/SF
EGI
$20.1K $7.42/SF
− OpEx
−$6.0K −$2.23/SF
NOI
$14.1K $5.19/SF
Area
Henderson County, TX
Vacancy
9.10%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
30.00%
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%
$281,420
Cap Rate 7%
$201,014
Cap Rate 9%
$156,344
Alternative Uses
Best Use
Retail
$531.1K
$464.8K – $619.7K
NOI $37,180 @ 7.0% cap · market cap 14.36%
Second Best
Flex RnD
$407.7K
$356.7K – $475.6K
NOI $28,536 @ 7.0% cap · market cap 11.02%
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 Industrial 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 - Currently zoned for retail use with central heating and cooling.
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‑square‑foot brick building; 0.505‑acre parcel; Currently zoned for retail use
