Building Details

Year built 1955

Listing Agency: Regal Realtors LLC Show Phone

Listed By: William Moomaw · License #0715236 Show Phone

Added: Mar 27 Changed: Sep 21 Last Checked: Sep 23 at 3:06AM

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MLS# 112560

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 mixed-use commercial property includes a brick building with 4,475 square feet of property area and a separate 2,400-square-foot shop. The shop is fully insulated and equipped with plumbing, electrical service, and HVAC. A carport and storage building add covered vehicle space and additional utility for operations or equipment.

The property occupies 3.5 acres along State Highway 175 between Mabank and Athens, with highway frontage and a location in Eustace, Texas. Commercial zoning supports a range of business-oriented uses. The brick building is identified as suitable for professional offices, administrative space, or on-site living quarters, while the shop provides dedicated workspace for production, manufacturing, food service, or event-related operations.

Key Highlights

• 3.5‑acre commercial property along State Highway 175
• 4,475 square feet of property area
• Fully insulated 2,400‑square‑foot shop

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

$23,235

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

7.50%

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%

$464,700 $464.7K

Cap Rate 7%

$331,929 $331.9K

Cap Rate 9%

$258,167 $258.2K

Market Conditions

NOI Build-Up for 4,475 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

$36.5K $8.16/SF

− Vacancy

−$3.3K −$0.74/SF

EGI

$33.2K $7.42/SF

− OpEx

−$10.0K −$2.23/SF

NOI

$23.2K $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%

$464,700

Cap Rate 7%

$331,929

Cap Rate 9%

$258,167

Alternative Uses

Best Use

Flex RnD

$673.2K

$589.0K – $785.4K (±1% cap)

NOI $47,122 @ 7.0% cap · market cap 15.20%

Second Best

Industrial

$331.9K

$290.4K – $387.3K (±1% cap)

NOI $23,235 @ 7.0% cap · market cap 7.50%

Theoretical Best

Office A

$1.57M

$1.38M – $1.84M (±1% cap)

NOI $110,192 @ 7.0% cap · market cap 35.55%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Hair Salon Big Box & Wholesale Store Plumbing Service Locksmith Auto Parts Store (Bike/Boat/Book/etc) Store

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

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

182

Businesses Nearby

Explore this area Business Placement

Demographics for 75124, TX

5,093

Population

2,371

Households

2.1

Avg Household Size

44

Median Age

21%

College-Educated

91%

High-School Grad

89.2 sq mi

ZIP Area

57

Density / Sq Mi

$79,162

Median Household Income

$45,994

Median Earnings

$932

Median Rent

$195,300

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

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercially zoned property combining office, workshop, storage, and vehicle-cover improvements along State Highway 175.

Where is this mixed-use property located?

The property is located at 449 HWY 175 Eustace, TX.

What is the asking price?

The asking price for this property is $310,000.

What are key features of this property?

This property features: 3.5‑acre commercial property along State Highway 175; 4,475 square feet of property area; Fully insulated 2,400‑square‑foot shop