Flexible Live-Work
For Sale
$205,000
503 E Main St, Decatur, TX 76234
C-2-zoned property combines residential features with adaptable commercial space for an owner-occupant or business user.
Property Size1,410 SF
Price / SF$145.39
Days on Market53
Property Features for 503 E Main St
General Information
Standard status
Active
Size
1,410 SF
Property subtype
Commercial
Zoning
C-2
Building Details
Year Built
1930
Listing Agency:
Parker Properties Real Estate
Listed By:
Keri Malone (940) 627-9040 · License #0719411
(940) 399-7661
Source:
Divinerealtygrp
Added: Sep 2
Changed: Oct 1
Last Checked: Oct 23 at 7:07AM
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 Parker Properties Real Estate
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Investment Insights
Based on property information with market context.
This 1,410-square-foot live-work property, built in 1930, includes a kitchen, living areas, two separate bedrooms, and a large flexible room positioned off the kitchen. The layout can accommodate a combination of residential living and business functions, subject to applicable zoning requirements and buyer verification.
Located at 503 Main Street in Decatur, Texas, the property is within a C-2 zoning district. The additional room and bedroom configuration provide adaptable areas for offices, appointments, storage, classes, or other activities consistent with permitted use. Buyers should confirm intended uses with the appropriate municipal authorities.
Located at 503 Main Street in Decatur, Texas, the property is within a C-2 zoning district. The additional room and bedroom configuration provide adaptable areas for offices, appointments, storage, classes, or other activities consistent with permitted use. Buyers should confirm intended uses with the appropriate municipal authorities.
Key Highlights
- 1,410‑square‑foot live‑work property at 503 Main Street, Decatur, TX 76234
- C‑2 zoning district supports evaluation of residential and commercial use options
- Two separate bedrooms add adaptable private rooms or living space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,276
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,520
$285.5K
Cap Rate 7%
$203,943
$203.9K
Cap Rate 9%
$158,622
$158.6K
Market Conditions
NOI Build-Up for 1,410 SF
Gross rent
$25.4K $18.00/SF
− Vacancy
−$2.5K −$1.80/SF
EGI
$22.8K $16.20/SF
− OpEx
−$8.6K −$6.07/SF
NOI
$14.3K $10.13/SF
Area
Wise County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,520
Cap Rate 7%
$203,943
Cap Rate 9%
$158,622
Alternative Uses
Best Use
Office B
$336.9K
$294.8K – $393.1K
NOI $23,585 @ 7.0% cap · market cap 11.50%
Second Best
Mixed Use
$203.9K
$178.5K – $237.9K
NOI $14,276 @ 7.0% cap · market cap 6.96%
Theoretical Best
Hotel Hospitality
$1.06M
$929.3K – $1.24M
NOI $74,342 @ 7.0% cap · market cap 36.26%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
806
Businesses Nearby
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Business Placement
Demographics for 76234, TX
18,755
Population
8,047
Households
2.3
Avg Household Size
40
Median Age
22%
College-Educated
89%
High-School Grad
314.0 sq mi
ZIP Area
60
Density / Sq Mi
$88,083
Median Household Income
$45,137
Median Earnings
$1,358
Median Rent
$304,300
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Live-work space - C-2-zoned property combines residential features with adaptable commercial space for an owner-occupant or business user.
Where is this live-work space located?
The property is located at 503 E Main St Decatur, TX.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: 1,410‑square‑foot live‑work property at 503 Main Street, Decatur, TX 76234; C‑2 zoning district supports evaluation of residential and commercial use options; Two separate bedrooms add adaptable private rooms or living space
