Retail Space with Dual
New
For Sale
$149,000
511 Saunders Street, Gatesville, TX 76528
The adaptable floor plan can support two businesses or a single larger commercial operation.
Property Size955 SF
Price / SF$156.02
Days on Market4
Property Features for 511 Saunders Street
General Information
Standard status
Active
Size
955 SF
Property subtype
Commercial
Amenities
rock wall
outdoor natural setting
Building Details
Year Built
1955
Listing Agency:
Dixon Realty Team|KW
Listed By:
Jana Carpenter · License #jcarpenter
(254) 721-0407
Source:
Efirsttexas
Added: Oct 19
Last Checked: Oct 20 at 6:00PM
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 Dixon Realty Team|KW
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Investment Insights
Based on property information with market context.
Built in 1955, this 955-square-foot retail property has front and rear entrances, entry areas, and rooms along both sides. Its layout can be arranged for two separate businesses or opened up for a single larger commercial space. Improvements include two ADA-compliant bathrooms, updated electrical and plumbing, vinyl flooring, spray foam insulation, on-demand water heaters for the sinks, and a heat pump system for heating and cooling. The roof was replaced in 2020, and a rock wall adds a distinctive interior feature.
A level area behind the building overlooks a seasonal creek and mature trees. The property is one block from the Gatesville Courthouse, with the outdoor space providing an additional feature alongside the commercial interior.
A level area behind the building overlooks a seasonal creek and mature trees. The property is one block from the Gatesville Courthouse, with the outdoor space providing an additional feature alongside the commercial interior.
Key Highlights
- 955‑square‑foot retail property with front and rear entrances
- Layout can accommodate two businesses or one larger commercial space
- Two ADA‑compliant bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,359
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,180
$227.2K
Cap Rate 7%
$162,271
$162.3K
Cap Rate 9%
$126,211
$126.2K
Market Conditions
NOI Build-Up for 955 SF
Gross rent
$17.2K $18.00/SF
− Vacancy
−$963 −$1.01/SF
EGI
$16.2K $16.99/SF
− OpEx
−$4.9K −$5.10/SF
NOI
$11.4K $11.89/SF
Area
Coryell County, TX
Vacancy
5.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,180
Cap Rate 7%
$162,271
Cap Rate 9%
$126,211
Alternative Uses
Best Use
Retail
$162.3K
$142.0K – $189.3K
NOI $11,359 @ 7.0% cap · market cap 7.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$229.4K
$200.7K – $267.6K
NOI $16,057 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
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Business Placement
Demographics for 76528, TX
18,773
Population
7,311
Households
2.6
Avg Household Size
40
Median Age
18%
College-Educated
89%
High-School Grad
486.3 sq mi
ZIP Area
39
Density / Sq Mi
$66,989
Median Household Income
$37,705
Median Earnings
$848
Median Rent
$189,900
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - The adaptable floor plan can support two businesses or a single larger commercial operation.
Where is this retail space located?
The property is located at 511 Saunders Street Gatesville, TX.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: 955‑square‑foot retail property with front and rear entrances; Layout can accommodate two businesses or one larger commercial space; Two ADA‑compliant bathrooms
