Dual-Entry Retail
New
For Sale
$149,000
511 Saunders Street, Gatesville, TX 76528
CommercialSale, Gatesville, TX
Property Size955 SF
Lot Size1.72 Acres
Price / SF$156.02
Days on Market3
Property Features for 511 Saunders Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Subdivision
Original Town
Lot features
City Lot, Level, Mature Trees, Views
Elementary school
Gatesville
Middle school
Gatesville
Elementary school district
Gatesville ISD
Middle school district
Gatesville ISD
High school district
Gatesville ISD
Directions
From Gatesville Court House look across main on 8th street. The rock building sets at the end of 8th street less than a mile from Gatesville court house
Standard status
Active
APN
114080
Size
955 SF
Lot size
1.72 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ORIGINAL TOWN GATESVILLE, BLOCK 65, LOT 2, ACRES 1.72
Tax Annual Amount
1942
Legal Description
ORIGINAL TOWN GATESVILLE, BLOCK 65, LOT 2, ACRES 1.72
Utilities
Water source
Public
Water front
1
Building Details
Year built
1955
Floors in Building
1
Flooring type
Vinyl, Carpet
Building materials
StoneVeneer
Listing Agency:
Dixon Realty Team|KW
Listed By:
Jana Carpenter · License #0704283
(254) 493-8004
Added: Oct 17
Changed: Oct 19
Last Checked: Oct 19 at 4:06PM
MLS# 628037
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 955-square-foot retail property, built in 1955, sits on a 1.72-acre parcel. The remodeled interior has front and rear entrances, side rooms, two ADA-compliant bathrooms, vinyl flooring, and updated electrical and plumbing. A heat-pump heating and cooling system, spray foam insulation, on-demand hot water heaters for sinks, and a roof replaced in 2020 are among the improvements. The layout offers flexibility for separate business areas or a more open configuration. Stone veneer and a rock wall add detail to the building.
A level area behind the property overlooks a seasonal creek and mature trees. The site is one block from the Gatesville Courthouse and has public water service.
A level area behind the property overlooks a seasonal creek and mature trees. The site is one block from the Gatesville Courthouse and has public water service.
Key Highlights
- 955‑square‑foot retail building on 1.72 acres
- Two ADA‑compliant bathrooms, with front and rear entrances
- Roof replaced in 2020; updated electrical and plumbing
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
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Updated interior areas can function separately or connect as a larger commercial space.
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 building on 1.72 acres; Two ADA‑compliant bathrooms, with front and rear entrances; Roof replaced in 2020; updated electrical and plumbing
