Mixed-Use Property with Office
407 W Main Street, Waxahachie, TX 75165
For Sale
$749,900
Half of the building is leased through June 2028, with on-site parking and pylon signage.
Property Size2,166 SF
Lot Size0.23 Acres
Price / SF$346.21
Days on Market47
Property Features for 407 W Main Street
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Road Access
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Hi View Real Estate
Listed By:
Jimmy Poarch · License TX #0684786
(214) 801-1740
Source:
Baerealty
Added: Sep 26
Changed: Nov 3
Last Checked: Nov 10 at 3:28PM
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 Hi View Real Estate
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Investment Insights
Based on property information with market context.
This 2,166-SF freestanding mixed-use property occupies a 0.23-acre parcel on W Main Street in Waxahachie, with approximately 102 feet of frontage. Interior improvements include office space remodeled in 2021 and a 500-SF apartment-office area completed in 2020, with a full bathroom, shower, washer-dryer, and kitchenette. A kitchen buildout with a dishwasher and refrigerator was completed in 2018. The building has a rooftop HVAC unit installed in 2021 and a roof replaced in 2022.
Site features include a security fence and mechanical gate added in 2019, a paved parking area that was resealed three times since 2019, pylon signage, and a basketball goal with netting installed in 2020. Half of the building is leased through the end of June 2028. The property is presented for a range of commercial uses, subject to zoning and applicable regulations.
Site features include a security fence and mechanical gate added in 2019, a paved parking area that was resealed three times since 2019, pylon signage, and a basketball goal with netting installed in 2020. Half of the building is leased through the end of June 2028. The property is presented for a range of commercial uses, subject to zoning and applicable regulations.
Key Highlights
- 2,166 SF freestanding property on a +-0.23‑acre lot
- Approximately 102 feet of frontage on W Main Street in Waxahachie
- 500 SF apartment‑office buildout completed in 2020, with bathroom, shower, washer‑dryer, and kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,231
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$724,620
$724.6K
Cap Rate 7%
$517,586
$517.6K
Cap Rate 9%
$402,567
$402.6K
Market Conditions
NOI Build-Up for 2,166 SF
Gross rent
$66.5K $30.72/SF
− Vacancy
−$18.2K −$8.42/SF
EGI
$48.3K $22.30/SF
− OpEx
−$12.1K −$5.58/SF
NOI
$36.2K $16.73/SF
Area
Ellis County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$724,620
Cap Rate 7%
$517,586
Cap Rate 9%
$402,567
Alternative Uses
Best Use
Office B
$517.6K
$452.9K – $603.9K
NOI $36,231 @ 7.0% cap · market cap 4.83%
Second Best
Mixed Use
$355.1K
$310.7K – $414.3K
NOI $24,855 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$761.9K
$666.7K – $888.9K
NOI $53,336 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,153
Businesses Nearby
Explore this area
Business Placement
Demographics for 75165, TX
49,805
Population
18,940
Households
2.6
Avg Household Size
36
Median Age
28%
College-Educated
90%
High-School Grad
118.0 sq mi
ZIP Area
422
Density / Sq Mi
$84,780
Median Household Income
$45,677
Median Earnings
$1,473
Median Rent
$308,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Half of the building is leased through June 2028, with on-site parking and pylon signage.
Where is this mixed-use property located?
The property is located at 407 W Main Street Waxahachie, TX.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 2,166 SF freestanding property on a +-0.23‑acre lot; Approximately 102 feet of frontage on W Main Street in Waxahachie; 500 SF apartment‑office buildout completed in 2020, with bathroom, shower, washer‑dryer, and kitchenette
