Brick Retail Space
For Sale
$259,000
406 Lindsey Lane, Athens, TX 75751
SINGLE_FAMILY - Athens, TX
Property Size2,710 SF
Lot Size0.51 Acres
Price / SF$95.57
Days on Market95
Property Features for 406 Lindsey Lane
General Information
Property type
Residential
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
Central, Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air, Electric
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) 675-3503
Added: May 15
Changed: Aug 2
Last Checked: Aug 17 at 4:06PM
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 retail space features a 2,710 SF brick building on a 0.505-acre lot. The interior flooring is concrete and a combination of materials, and the building is equipped with central air and central electric heating with ceiling fans. Additional functional systems include electric cooling and electric heating, supporting a range of potential business uses. The property also has a composition roof and is served by public water and public sewer.
The building is currently zoned retail, making it well-suited for commercial concepts consistent with retail zoning requirements. While the space can be adapted for different operations, the existing structure offers a straightforward starting point for an office, retail store, or warehouse-style setup.
The property’s configuration and utilities support tenant-ready fundamentals, with the brick exterior and established mechanicals providing a solid base for a new business direction.
The building is currently zoned retail, making it well-suited for commercial concepts consistent with retail zoning requirements. While the space can be adapted for different operations, the existing structure offers a straightforward starting point for an office, retail store, or warehouse-style setup.
The property’s configuration and utilities support tenant-ready fundamentals, with the brick exterior and established mechanicals providing a solid base for a new business direction.
Key Highlights
- 2,710 SF brick retail‑zoned building on 0.505 acres
- Zoned retail at present
- Central air with electric cooling and ceiling fan(s)
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
Retail
$531.1K
$464.8K – $619.7K
NOI $37,180 @ 7.0% cap · market cap 14.36%
Second Best
Warehouse
$241.1K
$211.0K – $281.3K
NOI $16,879 @ 7.0% cap · market cap 6.52%
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
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?
Retail space - Retail-zoned brick building with public water and public sewer, with central electric HVAC and concrete flooring throughout.
Where is this retail 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 brick retail‑zoned building on 0.505 acres; Zoned retail at present; Central air with electric cooling and ceiling fan(s)
