Historic Landmark in Downtown
For Sale
$1,500,000
500 E Main St, Kilgore, TX 75662
21,000 SF mixed-use facility on 1.3 acres for sale.
Property Size21,000 SF
Lot Size1.30 Acres
Price / SF$71.43
Days on Market565
Property Features for 500 E Main St
General Information
Standard status
Active
Size
21,000 SF
Lot size
1.30 Acres
Taxes and HOA fees
Annual Taxes
$7,645
Listing Agency:
Coldwell Banker Lenhart - Kilgore
(903) 983-9314
Listed By:
Randy Renshaw
(903) 983-9314
Source:
Exprealty
Added: Jan 24, 2025
Changed: Aug 8
Last Checked: Jul 16 at 2:34AM
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 Coldwell Banker Lenhart - Kilgore
Investment Insights
Based on property information with market context.
This 21,000 square foot, well-maintained facility is a historic landmark located in downtown Kilgore. Situated on a 1.3 acre lot with access from two streets, the property offers endless possibilities. Previously used as office, retail, service, and warehouse space, the majority of the property is climate controlled. The property could be suitable as an event center or civic center.
Key Highlights
- Historic landmark building in downtown Kilgore.
- Large 21,000 square foot, well‑maintained facility.
- Situated on a 1.3 acre lot with access from two streets.
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
$122,669
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
8.18%
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%
$2,453,380
$2.5M
Cap Rate 7%
$1,752,414
$1.8M
Cap Rate 9%
$1,362,989
$1.4M
Market Conditions
NOI Build-Up for 21,000 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
$191.5K $9.12/SF
− Vacancy
−$16.3K −$0.78/SF
EGI
$175.2K $8.34/SF
− OpEx
−$52.6K −$2.50/SF
NOI
$122.7K $5.84/SF
Area
Gregg County, TX
Vacancy
8.50%
Lease Rate
$9.12 /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%
$2,453,380
Cap Rate 7%
$1,752,414
Cap Rate 9%
$1,362,989
Alternative Uses
Best Use
Office B
$5.02M
$4.39M – $5.85M
NOI $351,268 @ 7.0% cap · market cap 23.42%
Second Best
Retail
$4.06M
$3.56M – $4.74M
NOI $284,450 @ 7.0% cap · market cap 18.96%
Theoretical Best
Hotel Hospitality
$15.82M
$13.84M – $18.45M
NOI $1,107,225 @ 7.0% cap · market cap 73.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
Explore this area
Business Placement
Demographics for 75662, TX
25,002
Population
9,474
Households
2.6
Avg Household Size
37
Median Age
18%
College-Educated
83%
High-School Grad
126.8 sq mi
ZIP Area
197
Density / Sq Mi
$65,926
Median Household Income
$37,027
Median Earnings
$1,051
Median Rent
$165,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 21,000 SF mixed-use facility on 1.3 acres for sale.
Where is this mixed-use property located?
The property is located at 500 E Main St Kilgore, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Historic landmark building in downtown Kilgore.; Large 21,000 square foot, well‑maintained facility.; Situated on a 1.3 acre lot with access from two streets.
