Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Triplex with Garage Apartment Units Title is generated by Realmo AI

    408 Live Oak Street, Marlin, TX 76661

    View on Map
    Claim this Listing
    New
    For Sale
    $225,000

    SINGLE_FAMILY - Marlin, TX

    Type:Retail
    Lot size:
    0.46 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 6:06 pm

    Property Features for 408 Live Oak Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Parking features
    Paved or Surfaced, Open, Garage
    Standard status
    Active
    APN
    35406
    Lot size
    0.46 Acres

    Taxes and HOA fees

    Tax Description
    S3750 OAKES BLK 1 LOT 5A-6/12B .689 ACRES
    Tax Annual Amount
    4682

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air, Electric, Window Unit(s)
    Water source
    Public

    Building Details

    Floors in Building
    1
    Number of units
    3
    Flooring type
    Tile, Carpet
    Building materials
    AluminumSiding, MetalSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Mercedes Lane

    Listing agent Mercedes Lane License #746855

    Listing office Agents Of Texas, LLC Waco, TX

    Listing date Jun 3, 2026

    MLS# 21288261

    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.

    HighLights

    • Income‑producing commercial property with three leased garage apartment units, approx. 420 SF each
    • 0.43‑acre tract with paving/surfaced open parking and garage parking
    • Ability to add two additional units on the property for future rental or commercial development
    • Public water and public sewer service
    • Metal roof with aluminum and metal siding exterior
    • Utilities include central heating/electric heating and central air plus electric and window unit cooling

    Overview

    This income-producing triplex features three garage apartment units, each approximately 420 SF, currently leased and generating rental income. The property is configured to support additional density, with stated ability to add two more units within the existing tract. There is also ample space for potential future development, including the option for additional rental units or a commercial building.

    The property is located at 408 Live Oak Street in Marlin, Texas (Falls County). It sits on a generous residential tract of roughly 0.43 to 0.46 acres, offering an ownership footprint that can accommodate current rental operations alongside future site improvements.

    For investors or buyers looking for an income property with an expansion pathway, the current leased unit setup offers immediate rental cash flow, while the described ability to add units provides a clear route to increase on-site capacity. The offering can also be purchased individually, or as part of a larger package with five additional investment properties, and it may be combined with neighboring income-producing uses identified in the remarks for a broader multi-property ownership strategy.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Chill Spot Shaved ... Take-out & Catering

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Marlin
    County
    Falls
    State
    Texas
    Longitude
    -96.891816
    Latitude
    31.305791

    Nearby Similar for Sale

    • $265,000

      Renovated Downtown Office Building

      Completely renovated office building with upgraded systems, dual entrances, and two plumbed restrooms for flexible tenant use.
      138 Live Oak, Marlin, TX 76661
      View Details
    • $225,000
      3,493 SF

      Retail Barbershop with Attached Residence

      Front barbershop space and an attached 2-bedroom residence offer flexible mixed-use leasing arrangements.
      406 Live Oak Street, Marlin, TX 76661
      View Details
    • $250,000

      Turnkey Drive-Thru Restaurant Opportunity

      Fully equipped restaurant with drive-thru, ample parking, and recent roof upgrades for owner-operators or investors.
      1008 N Bus Hwy 6, Marlin, TX 76661
      View Details
    • $5,195,686

      Cattle Ranch with Ponds

      752-acre cattle land with perimeter fencing and four ponds, offering reliable water and practical operational flexibility.
      CR 229, Marlin, TX 76661
      View Details
    • $205,000

      Marlin, TX Acreage Opportunity

      Two parcels of land totaling 12.37 acres near town.
      County Road 101, Marlin, TX 76661
      View Details
    • $265,000
      5,500 SF

      Renovated Downtown Building For Sale

      Completely renovated downtown building suitable for various business types.
      138 Live Oak #1, Marlin, TX 76661
      View Details
    • $50,000

      Multi-Functional Office Building

      Well-suited for a small business, featuring dedicated kitchen space and multiple restrooms within a versatile office layout.
      721 N Bus Hwy 6, Marlin, TX 76661
      View Details
    • $78,000
      2,984 SF

      Commercial Building on Business Highway

      Multifunctional commercial building suitable for small business.
      721 N. Bus Hwy 6 Highway Unit 1, Marlin, TX 76661
      View Details

    FAQs

    What type of property is this?
    Triplex - Three leased garage apartment units provide rental income, with room for expansion on a small residential tract.
    Where is this triplex located?
    The property is located at 408 Live Oak Street Marlin, TX.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: Income‑producing commercial property with three leased garage apartment units, approx. 420 SF each; 0.43‑acre tract with paving/surfaced open parking and garage parking; Ability to add two additional units on the property for future rental or commercial development
    (817) 501-2996
    We can help!
    Listing Contact
    Mercedes Lane
    Real Estate License ID: 746855
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    408 Live Oak Street, Marlin, TX 76661
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!