Flexible Live-Work
New
For Sale
$225,000
503 Main Street, 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$159.57
Days on Market5
Property Features for 503 Main Street
General Information
Standard status
Active
Size
1,410 SF
Property subtype
Office
Zoning
C-2
Taxes and HOA fees
Annual Taxes
$3,671
Amenities
Electric
3
Building Details
Year Built
1930
Listing Agency:
(940) 627-9040
Listed By:
Parker Properties Real Estate
(817) 992-1328
Source:
Xome
Added: Aug 31
Changed: Sep 4
Last Checked: Sep 4 at 2:32PM
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
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 = 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
$14,276
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
6.34%
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%
$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
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
$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 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%
$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 10.48%
Second Best
Mixed Use
$203.9K
$178.5K – $237.9K
NOI $14,276 @ 7.0% cap · market cap 6.34%
Theoretical Best
Hotel Hospitality
$1.06M
$929.3K – $1.24M
NOI $74,342 @ 7.0% cap · market cap 33.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
806
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 Main Street Decatur, 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: 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
