Listing Agency: Steve Grant Real Estate, LLC. Show Phone

Listed By: Patricia McGuffey Show Phone

Added: May 14 Changed: Sep 4 Last Checked: Oct 15 at 10:06PM

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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.

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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.

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 / Yr

$14,071

Cap Rate

5.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$281,420 $281.4K

Cap Rate 7%

$201,014 $201.0K

Cap Rate 9%

$156,344 $156.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,710 SF

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 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 (±1% cap)

NOI $37,180 @ 7.0% cap · market cap 14.36%

Second Best

Flex RnD

$407.7K

$356.7K – $475.6K (±1% cap)

NOI $28,536 @ 7.0% cap · market cap 11.02%

Theoretical Best

Office A

$953.3K

$834.1K – $1.11M (±1% cap)

NOI $66,731 @ 7.0% cap · market cap 25.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Diet Center Weight Loss Service The Salty Llama Hair Salon Fidelity Barber Shop ... Barber Shop

Suggested Use

Top Pick Parking Lot & Garage HVAC Service (Bike/Boat/Book/etc) Store Skin Care Clinic Home Appliance Store Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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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