Retail-Zoned Flex
For Sale
$259,000
406 Lindsey Ln, Athens, TX 75752
Commercial Sale, Athens, TX
Property Size2,710 SF
Price / SF$95.57
Days on Market110
Property Features for 406 Lindsey Ln
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RETAIL
Subdivision
Henderson
Standard status
Active
APN
3760.0010.0150.01
Size
2,710 SF
Taxes and HOA fees
Tax Description
LOTS 15-16 BLOCK 10 PARK HIGHLAND
Legal Description
LOTS 15-16 BLOCK 10 PARK HIGHLAND
Listing Agency:
Steve Grant Real Estate, LLC.
(903) 675-3503
Listed By:
Patricia McGuffey
(903) 681-3530
Added: May 14
Changed: Aug 19
Last Checked: Aug 31 at 4:06PM
MLS# 112868
Copyright © 2026 Henderson County Board of REALTORS®. 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 includes a 2,710-square-foot commercial building with a layout that can be adapted to different business formats. The property is currently zoned RETAIL, and the building may accommodate concepts such as office, retail, salon, or warehouse operations, subject to applicable requirements and approvals.
Located at 406 Lindsey Ln in Athens, Texas, the property offers an existing structure for an owner-user or commercial operator seeking a flexible building configuration. Its current retail zoning and interior area provide the foundation for a range of potential business layouts.
Located at 406 Lindsey Ln in Athens, Texas, the property offers an existing structure for an owner-user or commercial operator seeking a flexible building configuration. Its current retail zoning and interior area provide the foundation for a range of potential business layouts.
Key Highlights
- 2,710‑square‑foot commercial building
- Currently zoned RETAIL
- Flex‑space configuration suitable for office, retail, salon, or warehouse concepts
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 75752, TX
7,439
Population
3,217
Households
2.3
Avg Household Size
47
Median Age
20%
College-Educated
85%
High-School Grad
150.7 sq mi
ZIP Area
49
Density / Sq Mi
$58,185
Median Household Income
$34,554
Median Earnings
$1,023
Median Rent
$197,900
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 - Existing commercial improvements provide a configurable footprint for business use.
Where is this flex space located?
The property is located at 406 Lindsey Ln 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 commercial building; Currently zoned RETAIL; Flex‑space configuration suitable for office, retail, salon, or warehouse concepts
